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Exactly my thoughts meoryou. Add the $20bn standalone value with $33bn of cash and you’re around 50% of market cap!

Thanks for sharing, sound financial analysis but trying to place an equity value on bpx as a standalone is largely pointless in a company with an integrated value chain

Simply amazing, they are trying to tax Oil and Gas like they limit price caps on utilities and remove the funding in place - its pseudo nationalization without having to front up the cash to purchase or responsibility to manage and operate.

Wouldn't surprise me if O&G companies revisit where they are listed if the windfall tax becomes permanent and credits are removed, it'll either lead to a disastrous relocating of the HQ, leading to loss of UK jobs. Or a complete sell-off of UK assets by O&G majors. One thing is for certain, it'll lead to higher energy prices as cost to produce sky rockets and the govts response will only be more tax as they battle with another energy spike.

Brain dead politicians detached from reality of business. Wouldn't expect much more from anyone earning £90k just to talk for a living.

This plus the UK ISA allowance makes it a good day - cash inflows please

The only people generating a windfall are those who have had a wave of capital deployed in the markets since covid. These, of course, tend to be older voters which skew to the Tory right. Yet there’s no talk of a windfall tax for those folks.

I recommend people watch Gary Stevenson on YouTube, former trader at citi. He explains it so succinctly and paints a pretty grim picture for the world economy as inequality is set to increase

Nice bit of analysis below, good to see the analysts wakening up to the opportunity here based on the sheer amount of cash we are generating

Jefferies also pointed to potential for a further buyback acceleration in the second half.

"Under both our macro assumptions and strip prices, BP should be able to step up its buyback in 2H24 to $3bn/quarter (from $1.75bn/quarter), which would result in total yield growing to 14.5% (from 11.6%), by far the highest in the sector after Equinor (which is unsustainable)," it said.

Oooft, thanks meoryou. There you have it folks. Saudi need to maintain these margins to fund MBS’s spicy mushroom dreams. OPEC broadly in line. SPR will dwindle in an already tight market. What a bullish indicator heading into the new week.

We all feel your pain Gingy! I think we're all pretty comfortable that we'll get a fairer valuation at some point soon, however who knows when this is.

You also have to realise this is an income stock, you can get this income at no risk in a savings account currently. I suspect when we see base rate decreases we'll see an inflow of cash back to income stocks, at which point we'll have less shares, a sustainable dividend and a P/E thats ridiculous for an oil major. hang tight

Https://oilprice.com/Energy/Crude-Oil/Short-Sellers-in-Trouble-As-Physical-Oil-Market-Defies-Data.html

No violin needed for me squire! I got out with my face clean, thousands of others didn’t!

Ahh right, so it wasn’t because your prediction was wildly incorrect. Gotcha

You said you’d do this at q4 results? What happened?

Cross forum ramping. I was in HE1 from early days. Absolute shambles of a board and c suite. Turned the early retail investors into bag carriers with ludicrously low share placings and diluted everyone into oblivion after terrible mgmt decisions on drilling. Only ones benefiting now are the boards mates who bought at the recent placing. Lesson learnt on AIM for sure, as a private investor, don't touch it.

Interesting one using a $bn to buyback debt and not shares. Balance sheet being strengthened from all angles it seems.

Charlie, if only I had another three weeks in SEA planned. Alas I'm back in rainy london generating shareholder value

I think its a matter of process, they buyback and cancel shares as in their RNS, then instead of "keeping them back" they issue new shares. Always best to track absolute share count and not take buyback figures as the absolute reduction.

I posted a few months ago that I think the power of sentiment drives 15-20% of the bp share price. When sentiment was good re:$100 oil or when the 2030 O&G production target reduction was downsized to 25% we touched £5.60+,

15% from today (466) is: 535p

20% from today (466) is: 559p

I'd say we are more vulnerable to general attitudes about POO than anything else (ongoing Takeover talk etc.)

Very true meoryou, I've worked with many a highlight educated big 3 management consultant who's default question is "fill this slide in for me to present back".

Absolutely Tinker! How am I meant to compete with that level of brainpower! 😂

IB desks are full of pvt. schooled oxbridge/lse types who still needed a good slice of nepotism to get the seat. The old guard are falling out of the industry.

Make of that what you will