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NalaKapala,
I agree, Jeremy Hunt as remainer has introduced some very puzzling measures. Like raising windfall taxes, corporation taxes, which seem at a glance very anti UK Business.
Surely we should be reducing taxes and fostering an economic environment to increase jobs and encourage inward investment.
God forbid Putin in his madness sees it as an opportunity to attack the USA.
Jezzoo, was that an attempt at sarcasm, Lol.
I seriously doubt Putin would be daft enough to make a strike against the United States, but they are very capable of strikes against American infrastructure and interests. Oil platforms shipping, underwater cables etc. In any scenario a depleted Strategic Petroleum Reserve would be sadly missed.
Does anybody know whether the Americans still have the SPR Taps On.
What we could have is a battle of wills with the Democrats trying to get oil prices down, while the Saudi's are cutting output in an attempt to raise prices. The SPR WILL have to be replenished at some point, probably towards the year end.
How long will this pessimism hang over the markets. Does y11-shx have a point. I don't think the SP will drop past £4 the current dividend would support it and present a massive bargain.
Looney could certainly buoy the SP with a reinstated pre Covid dividend of 10.5 cents qtr. That would help rocket the SP past £5.
Y11-shx,
Although very pessimistic, I fear your predictions are largely correct that the pressure on this share is downwards. Hopefully towards the year end when a suggested shortfall in demand v supply is predicted the horizon should brighten significantly.
Cheers
Y11-shx may be extremely negative regarding the future prospects for the stock market, including BP. There are indeed storm clouds gathering in the financial markets which could lead to a drop.
If I was in cash I would wait, but as a long term holder we have weathered such times before. However our dividend was always there as a buffer. Not so now, as Looney still refuses to reinstate the full amount.
Since Bernard awarded Richi Sunaks father in law a 1.5 Billion Dollar contract, how long will it be before he recieves his Knighthood.
Just reading that Irish citizens can receive awards I.e. Terry Wogan, but they have to ask permission first from the Irish govt. I bet the "Green" Royals will be out in force for that one.
Oj17
I agree, but you haven't mentioned using agricultural land to produce this electricity. This seems a strange option as food production is going to be a major concern in our over populated planet. If solar was sighted in more arid areas, electricity can easily be cabled to the coast for use in the production of hydrogen.
Cheers
Meoryou, the thought of thousands or good agricultural land being transferred to biofuels production is a worrying development for the future. However surely the production of "green hydrogen" requires electricity.
Oj17
From my backpacking day in Oz years ago. The country is so huge with massive areas of relatively low yield land due to lack of water, perfect for solar projects. So why do BP need agricultural facilities. Just wondering.
Cheers.
Neil74, BP is a first class oil and gas company with decades of experience and huge knowledgeable workforce in delivering these type of projects.
1 rogue CEO must not be allowed to $xxx on this companies fantastic legacy. We need to ditch green and refocus primarily back to fossil fuel with all haste.
This report does nothing but reinforce what a complete xxxx our CEO is.
Whilst our global peers are focused primarily on oil and gas, massively expanding their production. Our CEO whilst reigning in his green aspirations somewhat is still too focused on green initiative's.
What would it take to put ordinary shareholders infront of his legacy or vanity.
Morning People,
Off to a flying start this morning. Let's hope we continue with the momentum. I'm Certainly alot more cheerful than over the last few days.
With oil still priced so low what is the consensus for fair value of BP shares.
Cheers.
I fear this share has a lot further to fall.
What with China and India filling their boots with Russian crude, with the latter possibly selling on to whoever undermining sanctions. This puts Opec under enormous pressure.
Storm clouds are also gathering in the bond markets with suggestions of further banking trouble.
I wish I'd totally got out a couple of weeks ago.
The saving grace is that BP's debt is now so low that they could fund the divi through any downturn.
Happyinvestor100,
As usual your spot on. From the 1st moment Lonney took the helm his decisions have in my opinion been disastrous.
From announcing his 40% oil cut and green dream at the height of a pandemic that saw billions wiped off our share price as investors fled in droves. I remember the dispare of seeing my investment destroyed with BP shares touching £1.90.
In my view Looney will allw ays be the UNFORGIVEN