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https://russiabusinesstoday.com/energy/rosneft-gas-could-enter-eu-via-nord-stream-2/
Maybe ...$200m a year for BP
Domtaz agreed, total nonsense.
Zac,
you might not like or agree with their plan for the next 10 years, but at least they have one. This is a lot more than can be said for the majority of companies.
And they are currently having the best year they have had in many years.
Cong,
I have similar numbers, $700m spent QTD. This is 50% of the total. Under the same conditions they have 27 trading days worth of buying left.
Zac,
What about BP's profit share of Rozneft vostock, about 350m bpd. This covers maybe 30-40 % of the reduction. What about the expansion in service stations. This is where they were making their money pre-pandemic. So it is not true to say there is nothing to cover the decline in oil & gas production.
I think the effect of GOM will be around $350m lost profit on production(12/24 days, since half their production is operating) and maybe $100m repairs (which is definitely insured).
To counter this vs. Q2 :
They have had $1b from the rise in Gas prices (before IDA).
Oil 4$ higher ($350m)
Re-opening in several markets where their stations exist. This was a large contributor to their profits historically. (This should increase by $500m+ due to seasonality)
Maybe their trading arm can offset some of the Ida disruption?
Q3 looks better than Q1.
Gas demand is rising, so is energy demand. LPG is currently 1.5 times more expensive then petrol.
So Looney recently said about the trading arm "that’s where the magic comes in".
So show us in q3
Hopefully gas holds at these levels for the next few months. That would be nice.
https://www.bp.com/en_us/united-states/home/news/storm-center.html
10 Year is rising, which I believe will be good for sector rotation.
Sorry to see you go.
Goodbye Gavster-NBC and goodluck
vs. Q2
The gas element is around $900m additional profit at a projected average of $4
BP EPS should be up 75% ish from Q2
Also the customers and products segement is yet to recover, At Q2 it was at 25% of 2019.
By my calculations Q3 is looking very good and 2021 will be the best results for the last 10 years.
Hi Markgo,
all of what you say could be true. Its really about the price of gas and of course oil. So far this year it has been good. 2022 and beyond who knows like any commodity. Iron ore is down 30% but this has been on the back of a 300% rise.
Keep well
Does anyone have any updates? This must be affecting the business, positively or negatively or both.
Actually I think the 2M b is Boe/d, so oil and & gas.