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Amazing, Barclays reiterating their £10 price target.

Although we all stand to benefit immensely should this happen, the mind boggles about why they are so bullish

What a week, wonder where the oil markets and bp SP go from here...

POO $87+

Nat Gas >$3.30

Unrest in the middle east - potential humanitarian crisis and a war that lasts years as Iran funds certain anti-Israel groups

Hedge funds offloading their long positions

US Gasoline builds, but stocks at near records lows

Heading into the northern hemisphere winter

Russia Ukraine seemingly at a stalemate - Russian elections in March

Inflation numbers to follow

Results on 27th Oct, Oil majors already prepping the market for a bumper quarter

More bullish than bearish factors above IMO - sit tight we may see £5.50 again this year

God dammit I'd be piling into Shell right now if I had the cash

Thanks for posting the link - Bob sure comes across as a steady-hand and can see why he is so revered by BP shareholders.

few things for me :

1) he states there was four candidates on his dept. - I see these as Bernard L. Tufan E (now RR CEO), Brian G. (now Ineos chairman) but who would the other have been?

2) I don't believe he wouldnt have aware of Bernards reputation that has since come out in the FT and other press

3) On the strategy not changing, I think he is just following what the board has said publicly and is seeking to create an air of stability around the co - as I'm sure his bp share holdings influence him to do

Ahh right I missed the rather obtuse joke

What an odd response - Your reply infers you don’t believe a female leader to be as credible as a male one

Credibility is one variable of many that should be taken into account for exec teams - gender however should not

Tbf I have no doubt that we only employ the best people for the best roles, regardless of gender - there’s some incredible female leadership talent in the company currently

This story coming out is unfortunate, but the company is bigger than one person (as referenced by the SP over the last two weeks). It does undermine his history of progressive hiring however you look at it which is a shame in a male dominated industry

Saw a post over the weeknd about Lawler leaving as he wasn't in contention for CEO role - this would be 2 steps upwards in the bp hierarchy and wouldnt imagine the board considers this an option

Your maths concern me

A bit of wisdom I picked up from Prof G: Always sell into strength

No worries if you sold today, bank the profit and move forward

I think this is the crux of the issue and why I challenge those who just say pump more oil, bp has a responsibility to its shareholders, part of that responsibility is ensuring the business is sustainably larger in 20/30 years time vs. today - but like it or not it also has a responsibility to governments and due to the business we're in, a social responsibility to supply the world with energy without destroying it.

If you disagree with this, then bp probably isn't the share for you. Blindly requesting a change in listing location, a US CEO or our global strategy to be impacted by the outcome of a UK referendum is a bit short sighted imo - the board isn't fussed about the 2-3 year holding proposition, its the 10/20/25 value prop they chase. As I posted before, I totally get it, your investors - but if you don't like the investment proposition you can always vote with your money and head over to Exxon

Whilst I do disagree with 95% of the anti -strategy posts on here I understand why an investor has them as they want bp to pump the well dry (literally) then fold into administration or get legislated out of existence so they can jump out just as we peak, although Mr Looney had his faults the idea that only a few companies can enact the change to get us off Dino juice i fully believed in - as he said, you simply couldnt build enough green companies quick enough to reach climate goals.

One thing I am slightly critical of us is even from the outside it looks like we've given mckinsey folks a massive bumper payday and not trusted the years of expertise we had internally - I get you need to change culture etc. but our strategy does read like a mgmt consultant deck and when compared to Shells/Totals is a lot more bullish on fundamentals that quite simply have to be right for our SP sake.

I do think there is a three way tug of war going on at the moment:

US/West: Trade/ purchase as little Ural as possible

OPEC: keep prices elevated as Saudi says so and footballers arent cheap

Russia/China/India: Sell as much as possible/ Buy/Buy

US/West are depleting their reserves - this is pushing up oil prices due to inventory reporting

OPEC: Enforcing prolonged production cuts

Russia/China/India: A secondary market is appearing for Russian barrels (which the oil traders will be cashing in with)

The macro impact: Oil prices go boom as supply/demand is off-kilter, India/China benefit from cheaper energy

The micro impact: Due to a pending Sharesave transfer, if the bp SP goes above 552p by Monday next week it will supercede my ISA allowance for this year, opening me up to capital gains

The world, she keeps on turning

This change was driven by a change in strategy, reversal of 40% O&G production to 25%, not financial results

Difficult to say - POO up over Q2, Gas largely flat, Refining margins up - given the upwards pressure on oil price I expect trading result to be strong. however bp never moves on results so take this into your trading consideration.

Depends how you define ‘keep’ and what plan you are on:

Sharematch - doesn’t become tax free until after five years of holding, you have to ‘keep’ your holding here for at least three years, at which point if you sell they get taxed at income and NI, if you sell before or leave then the matched shares will be sacrificed

Sharesave - these can be transferred to s&s isa after three or five years depending on your plan

Share plan - standard RSUs with a defined vesting period (typically three years I think but I’m not SLL so don’t understand this fully)

I use PBs to park my S&S ISA cash in, so when the tax year starts I simply transfer 20k across straight away... I figure even though returns are greater in the market, non S&S ISA gains will very likely be subject to CGT, which i do believe will start to be levelled at income tax rates as one of last remaining tax grabs the govt. has... so for me its either pay a ridiculous amount of CGT for 8-10% a year or chance my arm with a avg luck of 4% before investing it a year later. It also enables me to stay liquid and take advantages of any downturns, which I view as important in the current market.

PBs also appeals to my monkey brain that I could win a decent amount of tax free cash - I'll change my view when I have the wealth to invest amounts that can reasonably deliver 5 figure returns instead of 4 figures/ have the confidence to invest these amounts

Here's an interesting one - say we reach £6 by January 2024, who would sell and who would hold?

I'd be very tempted to sell my entire holding around £5.70/£5.80 despite me being here for the divi income

Can’t see it, putting a lifetime consultant into the top job is suicide for the SP and credibility with investors - same issue with all mgmt consultants. Due to the nature of their job they do not enough history of multi-year execution on physical projects - we all know McKinsey/ Bain/ BCG are famous for their slides but fall flat on their a*se when asked to execute

My guess is Murray A gets it or Carol Howe (trading and shipping EVP).

I tell a lie! it sees this quarter HL has included me in the fast payment stream!

Apologies!