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Agree - I think we won't see a complete climb-down however - I believe it will be gradual, starting with moving the phasing of cap. ex. out past 2025 and from there it'll be held steady at a lower % of cap.ex. already stated.
I watched the Shell earnings call just now and a few observations:
1. Shell are ever so careful to keep reinforcing the focus on O&G at every turn
2. There is little to no discussion about downstream businesses, their performance or cap. ex.
3. Plenty of questions on wind - no asset write downs but incurred a
I do think although we are hearing the rhetoric on net zero targets remaining, a new CEO has one and one opportunity only to reduce these targets and thats his/hers first three months in the job. It'll be a big call call but for current shareholders theres only upside - no incoming CEO will cut oil further due to SP pressure, so they either stay the same (SP remains) or they cut reinvent bp strategy (SP booms)
Happy, I wont comment on Archea as this isnt my area of expertise.
The Travel centers acquisition was superb, it carries many opportunities across the C&P portfolio and compliments our US retail real estate nicely - do not under estimate the future integration value of bp, particularly in the US where we have our strongest assets
They qualified they took the impairment due to accounting partners (externals) mark to market accounting of their assets. I don't think its about massaging the good news when they've been unsuccessful in renegotiating the NYC wind bids.
Wow many on this board seem to be loosing their head a little here - operationally really strong results, more oil pumped than last year at lower cost to do so - simple.
Buybacks vs. divi is what it is - can see the merits of both in this situation, why not allocate a bit more cash and promise a >4% annual raise, this would please everyone and move the stock upwards
I'll be back in around 480-490, expect a drop when US opens
Expect Shell to falter on gas trading news also
Thats what to focus on - trading will fluctuate Quarter to quarter, I'm not back in just yet after selling £30k at £5.57, but will be if this settles sub 5, not moving too quickly as not catching a falling knife, there'll be future opps
Not odd at all, a war in Palestine has minimal impact on POO. Any minor impact can and will be swallowed up by other nations.
Only way POO spikes is if Iran shows signs of escalation (or US hostility language towards Iran increases)
A war in the Middle East doesn’t necessarily mean a boom for POO, it depends on several other factors
Https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-boosts-ev-charging-network-with-100-million-dollar-order-of-tesla-ultra-fast-chargers.html
Seems to be a hardware only purchase - Tesla becoming a charger OEM supplier??
Doesn't every CEO pack their leadership team with ally's?
I do think its telling that Tufan walked into a CEO position at RR and Brian walked into a chairman position at INEOS - both highly regarded by industry but tossed aside by bp
I think the broader risk on the Israel - Hamas conflict expanding to other regions of the middle east has largely subsided from investors now, which is why oil is falling slightly as so is the SP.
A war in Israel doesnt hugely impact oil supply, but Iran wading in could lead to more oil embargos and jack up prices - which hasn't happened yet. This risk premium was built into the SP over the last two weeks. It seems to be removing itself from the SP currently.
Now now a Shell and bp merger would send shock waves through the industry.
but as I posted earlier, a super-major acquisition or merger is a magnitude higher than the Chevron/Exxon deals announced.
The acquisitions we are seeing now are a reflection of the industry being cash rich after a bumper 2 year period. It could very well come to bite them should oil dive in the next 12m
If bp repeated the trend we’ve been on since 2020 then I’d love that! Plenty of buying opportunities to come then! And the 12k shares in my company acc will see me benefit
On the historical share price comment, you have to consider a completely new strategy, a lower dividend and the loss of rosneft divi’s and a new incoming CEO All impact SP which doesn’t make this an apples to apples comparison
As I said - still bullish on bp but urge to take profits was stronger for me today! Who knows if I’ll
Be right or not!