Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Exploration,
It just shows BP's true strength lie in its core business and the expertise of the men and women who work in this field. I also shows why funding should be increased into oil and gas projects and not a 50:50 split with green. I would prefer the massive gushing profits rolling in to BP's coffers from an oil well, than have to rely on some bloke charging his Tesla whilst sipping "Wild Bean Coffee"
LeeRex,
You write "Need the CEO position confirmed, and hope it’s a positive 1."
Looney has transformed BP into such a confused mess. He initiated a green transition policy based on ridiculous figures and wishful thinking. He had 3 years throwing money around like confetti at a wedding. And now, we find ourselves floundering considerably marked down against our peers with an interim CEO who's message, "business as usual ". It's really pathetic there is 20-30% upside in easily achievable shareholders value. We only lack a leader with the cahonas to achieve it. A Suella Braverman of the oil and gas world is required. Not a Richi Sunak from Canada.
Well the day ended rather flat. We are in need of some good news or geopolitical event to get the share price moving again. Then again, now we have that slippery Mr Cameron as Foreign Secretary he know doubt will now bring on "World Peace" and allow us to get our share of Rosneft back. All for commission ofcouse.Lol
No No No. This company belongs to the shareholders not greenies types looking to build a green eutopia. We are seriously undervalued due to bad decisions and leadership. Murray Auchincloss has made statements that he will proceed with Looney's legacy. In my mind, Mr Patience, you are quite right in questioning our current direction. C156 is quite wrong to criticize. He may be a Murray fan but I am most certainly NOT.
Exploration,
Thanks for the reply. It seems that there is NO substitute for experience. You cant foister someone on the employees if they have no confidence in them. Especially in Scotland. Hopefully we have a list of suitable replacement for Looney who can inspire the workforce and drive the company forward.
Am I alone in fearing a hapless BP board will try to foister an unwanted (grey tax man) Murray Auchincloss as our new CEO. we require a dynamic, experienced, full of energy and ideas of how to unlock hidden shareholders value; and drive us forward with a renewed commitment to full steam ahead with Oil and Gas production. Not the "Grey Tax Man", Business as Usual. Boring Boring, Boring. Get rid of them all, the current BOD has to go.
Meoryou, The article suggests BP shareholders would demand a near double of the share price to secure a deal. A merger between Shell and BP would be ideal. I would be happy with an offer of £7-7.50. Seems a long shot though.
1.ARMANI
Remember in 2019 oil averaged $63 barrel. The share price ranged from £5.70 down to £5.10 and we received about 40cents in dividend. These were the days when we were professionally led by a true blooded oil and gas CEO, Mr Bob Dudley. Imagine where we could be today with an oilman at the helm. That is why we cannot have Murray Auchincloss an accountant as CEO.
1.ARMANI,
How much added value to the m'cap would there be.
1. The appointment of a new CEO with an oil first attitude.
2. The reinstatement of the pre Covid dividend.
BP is in exellelent financial health held back by poor leadership and bad decisions.
Dr Patience,
I couldn't agree more. Unfortunately I fear that BP will try and foister an unwanted Murray Auchincloss upon us. Mr Auchincloss is an Accountant and totally unsuitable to be the CEO. We need a complete reset as referencing our forward strategy. That strategy must focus primarily on oil and gas, not a 50:50 split with green projects. I am still hoping for a seasoned Oil and Gas Veteran who will rip up Looney's plans and "Drill Baby Drill"
Jakers,
Amen to that. It would be ideal if Bob Dudley could rejoin as CEO for a couple of years. His leadership would hopefully realign the company to focus on our core very profitable base, and regain market confidence. We have to remember though that Mr Dudley tenure led to Looney. Surely someone with impeccable oil and gas credentials can be found as out long term CEO.
Today's SHELL results shows what a powerhouse the company has become. Imagine where BP could be if we didn't have 3.5 "dead years" under Looney's stewardship. BP traded pre Looney through the Bob Dudley years at approx 4/1. That implies a current share price of £6.5 - £6.75.
IMO, That lost value cannot be returned by the current Interim CEO. Nothing short of a full reset will do and a complete ditching of NET ZERO policy.
Happyinvestor100, Meoryou.
“ Core operational business is remarkably strong. We produce 2.1m boepd and our pipeline is best in industry”
This statement does suggest that large additional production may be forthcoming to add to our handsome daily total. However I am troubled as Mr Auchincloss has said production going forward will remain at 2022 levels. In his (wet rag) presentation he indicated BP had mad disposals totalling 100Billion. He failed to mention a great deal of those were to pay for the "Deepwater Horizon Tragedy". I wonder whether his reference to disposals suggests that any uplift in production totals in excess of 2022 levels would be sold off. Most Worrying. He must Go along with the entire Board of Directors as soon as possible.
MarkGo,
“That’s down to management and it rather begs the question as to whether any new chief executive will persevere with the ‘Performing while Transforming’ of Bernard Looney, because while it is clear that BP is transforming, it certainly isn’t performing,"
That is a very alarming statement. BP is already significantly marked down against our peers and what with Murray Auchincloss coming across as a damp rag in his results address is it any wonder the share price has fallen so far. We desperately need a "Rockstar" as Meoryou posted both to refocus the business to our core very profitable base. I found it alarming that we the shareholders have been left in limbo for so long.