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Looks like my 488/485 entry point was misjudged - couldnt forsee us falling back to the 450's with the money we are generating. Looks like I'm sitting on them and taking the divi until we get a catalyst (new ceo, perhaps?)

I think you're forgetting MBS has a walled city, the olympics and god knows what else to pay for

Here's one for you M&A experts... if we're seeing increased acquisition activity in the permian, does this make the assets that bp holds there more valuable? Could we see a re-evaluation of our position based on fair market value?

It’s one rule for us, and one rule for crazed Russian ministers of war

Clued,

I am, my bad it is worth £4m. Seems the UK gov have frozen their assets and banned entry to UK: https://www.businessinsider.com/uk-sanctions-lavrovs-stepdaughter-who-owns-5m-london-apartment-2022-3?r=US&IR=T

Found it ironic he slams the west, yet his daughter went to a london uni and infamously purchased a £2m+ flat on kensington high st when she was 21, cant be all bad here can it, lavvy boy?

Does make you wonder why they don’t purchase 1/5 of bp for the dividend alone, ignoring the access to a world class trading business they don’t have

... Exxon spending $20bn on buybacks alone next year, more than bp will spend running its entire business. Frightening, but you do have to wonder why Exxon are doing this.

They clearly see themselves generating mountains of excess cash, but like for like this still represents only 5% of outstanding Exxon shares. They must think that at $400bn they are undervalued (!) and if Exxon are undervalued the bull case is clearer for bp than Exxon (From its current lowly lows)

Nice work, gains are gains

I'd recommend to detach yourself from day to day movements on oil price! None of the fundamentals on why you should invest here have changed over the past few quarters, so it back, reap the divi and all will be well!

See my comment from a few days ago re: working for a few years and having more money you could ever spend. He’s still young at 53, Murray can do this for 6/7 years, steer bp through to 2030 delivery and then join the non exec gravy train and make more than he ever earnt to date

I think bringing dudley back is a mis-step - it screams to investors that the board isnt confident in its own choices. Time to move on

The only challenge with Murray from what I've heard is he hasn't ever ran a business operation, which is seen a must-have in bp ceo candidates. So if he does get the nod, and there are certainly several reasons why he should, it would be a departure from the norm - The board would then have to fill his c-suite with proven business operators to lighten some of the burden from him. I believe bp currently has this anyway so he gets my nod as he is more than adept at handling investors

Why wouldn't you want the top job if you were CFO, its a shoe-in no risk opportunity in a business you know inside out, work for 2 /3 and resign with more money than you could ever spend

Like this move a lot, high strategic value, more access to world class grid scale renewables and integration risk is low.

meoryou, I think the line around potential for external investment is to hammer home points to investors that there is future exit options and an ability to retain access to renewables but gain through equity sales

As we close out 2023, i thought it'd be interesting to see latest position on buybacks for the year (to date Nov 24)

Number of shares bought back - 1.22bn

Total Cost = $7.659bn

Current share float: 16.81bn (Yahoo finance)

Market cap Jan 3rd 2023 = $104bn

Market cap Nov 24th 2023 = $101.5bn

7.3% of Jan 3rd market cap bought back - not including any share awards granted this year

Depends on POO - our SP is so connected to this at the moment its like the market values the rest of the portfolio at zero

Again, I'd argue the alternate view - many large co's have their own stated ESG goals and are responsible to investors, they need to find ways to decarbonise whichever major power hungry industry they play in. You already see this now with firms moving towards biofuels which command a premium. - https://biofuels-news.com/news/dhl-to-transition-on-site-fuelling-stations-from-diesel-to-hvo-by-the-end-of-the-year/

as for "there is no such things as a green electron" - there is and there's different ways to trade this green electron which create commercial opps.

I think the word "retail" probably doesn't represent the "retail" sector as you would think in typical commercial language - I'd guess it just means they can now sell power to anyone under Japanese law - which would support their comments re: integrated value chain and green electrons (see planits post)

Interesting. I'd argue they are coherent and this activity is a natural extension of bp's wind activity in-market to date - establishing the energy value chain play in a G7 market in partnership with a local player.