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You’ve just copied my comment from a few days ago

Should confirm the below - these are my views only of what I'd expect a large corporate to do as part of their succession planning!

If this article was released on the back of bp appointing the firm I am a little shocked its taking us two months to at least appoint an exec search firm. I believe it hasn't though and the firm was one of many to pitch for business as soon as Looney stepped down.

If we have only just appointed them I'd question why it took so long to even start the search, it's a bit worrying when there doesnt seem to be any succession planning in place for the top job!

All driven by market sentiment - the market took OPEC decision to delay the meeting as bearish in that they cant reach agreement across members - markets assume because members want to drill drill and saudi is saying no no.

The reality could be different, it could be that they just can't agree how long the extension cuts are. Who knows until they publish

Election deadline 5pm 29th Nov - I'll be setting mine to reinvest at these prices! I'm a little bit stunned by our P/E at the moment - I hardly ever invest on fundamentals alone but here I have

If this past year has taught me anything its that sentiment alone drives at least 20% of share price in bp and shell

Interesting comment Happy.

The potential for an IEC is 100% there and live - its a hedging strategy to have a diverse power/ energy portfolio as the world weens itself off O&G.

The limited cross-over of renewable technologies isn't a big deal - bp have proved through lightsource they can enter areas of little competency and stand-up a sustainable business - the value, as in O&G is the integrated value chain. What differs in renewables is the production, the rest of the value chain is largely the same, i.e. the renewables power can still be traded, can still be transported to customers or retail sites and sold alongside other areas of the downstream portfolio.

I don't forsee a pivot coming, the IEC strategy is too ingrained in the company, from the board to exec team to what we publish externally to the major shareholders. Imagine the questions if the board and c-suite pivoted now, just three years after they signed such a sector divergent strategy. They may as well resign themselves if they do so.

A bet on bp is a bet that a diverse energy portfolio will come good as governments legislate against carbon, we've seen it in auto and it won't be long until we see it in energy also.

Thanks for background - sounds like a good move - if it isnt making any money its a toxic asset and needs to be cut!

I assume this is all part of high grading where bp operate - Turkish inflation over the past few years must have destroyed the competitiveness of the business

It has to be said on Rosneft that although we wrote the value down to zero we still own the ~20% equity stake and have dividends accruing in rubles, in a russian bank account. Tainted assets they may be but they arent worth zero and their value will be recognized at some point - by both the accountants and investors.

No chance of anything occuring pre-election next year, but beyond this who knows.

Agree - I think with all the renewable investment, the days of gearing up to pay dividends are well and truly over.

I do think we will see an elevated oil price environment over the next year - OPEC has shown how effective it is at maintaining margin and with Saudi requring 70-80$ oil to balance its books I can't see them flooding the market like they have done previously. They have so many more high capital projects through to 2030 that demand and margin is catastrophic for MBS's plans.

I have to admit the divi has been pretty disappointing since COVID - I wonder how much pressure a new CEO will put on his/her CFO to alter the financial frame which currently favours buybacks over divis.

Saying this however - buybacks are being done as our p/e is so fudging low we are incredibly cheap vs peers, I'm actually on the side of bp on this one. It makes complete strategic sense to continually reduce share count now... it means when the strategy swings back in favour of dividends the SP increase should be considerable.

This is hardly a "skewering".. and particularly from an ex-employee who is no doubt earning huge cash as a contractor.

The pension blowback blows my mind as a current employee - why should they get an inflation matching rise when working employees foister the standard 2-3%. Its a joke by a generation who had have seen gold plated pensions, pay-offs and record asset price rises. Nothing more than a cash grab

Interesting, mind sharing more Exploration?

I hadn't heard this and I'm and employee!

Bet, not best*

POO steady at $80 this morning just as Saudi would like it to balance margin vs. demand.

Looks like I jumped in a little early but sure my perception will change on divi payment day! Has anyone got the list of the small best on EOY or xmas price?

Painful indeed! See my comment below re: timing the market however

You'll never catch the peak and you'll never catch the low - I jumped in at 488 and 485. This investment was on fundamentals - strong operational performance, large p/e gap to peers, expected jump on new CEO announcement. I can weather short term losses as we only reduced to a trading miss.

Brent down 3% due to China, but their gov will continue to add stimulus, meanwhile India is growing at a clip whilst record oil demand growth is occurring. Fundamentals are there so I'm moving to ignore any day to day movement

Just added also, brought my [personal] holding up to 8.5k shares.

Assuming Q4 tracks Q3, we're in line for $18bn of RCOP this year, 31.4bn in op. cashflow, 43.5bn EBITDA, after a record year last year and substantially >10% of the share count reduced over the past three years

How we are under £100m market cap blows my mind