Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I think that rising rates will cause the energy sector to outperform
I get $485M, around three to four weeks of buying left, and then Q3 results and a new lower trailing P/E ratio.
It looks like the first month of gas prices are locked in for Q4
Pay down was the wrong word.
Net debt.
and the start to Q4 is looking good. Maybe their debt will be below $30B
I think they will do $1.5B buyback and pay down $2B debt.
I think BP achieve a twelve months trailing P/E of 6 at Q3. And if they gas prices stay where they are for another week, they hit that or better in Q4.
Buyback should last another four weeks +-
There are only 8 more days in the quarter/month. P/E is going to drop with Q3 results. BP will have 1st month of Q4 gas prices set. I think this might be possible if the gas stations are starting to achieve what they have historically.
He does seem to have landed one of the more difficult roles, and he is smiling.
It does seem a slightly different tone, just in time for COP26
Joe Biden has said to contain the price he wants to hunt down the "bad actors".
I wonder if he has thought of looking in Hollywood.
The big difference between this and previous buy backs is that BP is currently buying at about 40% of the price of previous buy backs.
Governments are starting to panic about oil and gas prices. I can see a sharp u turn in policies and narrative coming very shortly.
Maybe there was a large seller who had to be cleared from the market which is why the price wasn’t moving upwards. This combined with a fear that FF price rises where a temporary phenomenon.
With BP buying YTD 1.5% and the Chinese buying 1.5% that should have cleared things out.
Now what we need is some excellent Q3 results and gas prices locked in for October on a first of the month basis and hopefully this can go up.
Wind currently produces half of the power generated by coal in the USA,(10%) and solar next to nothing.
BP is strategically moving to gas. This makes sense. As there will be big demand over the next 20 Years during the transition.
Will going to electric vehicles require 100% increase in gas prices ?
Nice move today.
Or a permanent 15% cut in global GDP might get rid of coal.
I believe once the scale of decarbonisation is seriously considered, the first objective will be to remove coal from the mix. In parts of the world like the USA coal provides a serious amount of power. It would take years just to get rid of coal.
$3.5T “so called” infrastructure will not make even the smallest dent in the power simply supplied by coal.
They will never remove coal unless the substitute it with gas, and that it not so easy either. Unfortunately, the politicians aren’t interested in the problem, they are interested in the social media.