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HL seem to take about a week to payout - nice little interest bonus for them I'm sure

Thanks for sharing the article, reads as a bit of a hit piece, ignoring many of our strengths. The last paragraph hits home hard:

Overall, Brinker associates BP with greater instability than its peers, seen in its volatile cash flows, and successive dramas, from the Gulf of Mexico spill, to Russia. "BP continues to be the most challenged of the [majors] and therefore the least likely to survive intact this decade," he said.

I think comparing GoM to Russia is a bit of a shoddy argument... then again this is a US source, so there's no mention of EU peers dominance in trading - even in the US homeland of Chevron and exxon

He may as well of took his jet to the north sea and had a ribbon cutting ceremony

How to p*ss off business 101

We are governed by stupid people. It's not even the distinct policy its the constant flip-flopping between positions to win votes. No wonder we have a low growth economy in the UK when the gov can't even present a consistent policy landscape to base investment on - I too see a O&G rise post Sunak's speech, despite windfall taxes etc

I think by record high they meant its getting more or less equal to the 52 week high

Turns out my post c: 4/5 weeks ago re: Shell being a more favorable play was well positioned, will sustain until bp closes its valuation gap - helped me to a nice low four figure gain in the SIPP + Divi's - I'll hold for now though as I don't like to use my SIPP to trade in and I'm holding mainly for divi's

Production and operations finance chief gets the nod on an interim basis - should support the SP as shows O&G experience is still in the driving seat

https://www.bp.com/en/global/corporate/news-and-insights/press-releases/kate-thomson-appointed-as-bp-interim-chief-financial-officer.html?dm_i=2WYO,1F0NW,7F4QEX,5LLIR,1

Hmm strange! The FT called him a scot!

I'm not sure the SP movement over their search duration will come into it - I wouldnt be too concerned about him being a CFO -> CEO, he knows the risk of cost cutting thanks to GoM.

I always thought he was american, turns out he's scottish - who knew!

I think Murray is a good candidate but doesnt strike me as someone who has the charisma required to charm governments which is vital for a bp CEO.

No doubt he has the knowledge and experience to speak to investors

Very nice place, but at £8-£10 a beer I'm not sure I'll visit again (unless on business ofc)!

Had fun in the sauna's then jumping in the sea.. again not one I think I'll do again!

No comments from me the past few days as I've been off enjoying Oslo!

Since BL leaving its been interesting to see just how divisive bp's strategy is to the people on this board. To the point in which I question why, if you are so opposed to it, do you hold BP? Surely Shell is your safer EU O&G holding.

I do believe the new CEO will be an internal candidate, I can't see how a new external CEO can come in and rip up the same strategy that the board signed off

I too, as a current bp employee, am sceptical at the reasons given - there has to be more to the story. his renewables push was questioned by investors but not to the point of him being forced out, the business is generating excess cash and operating well.

As one IB analyst has stated, we're likely to see a more material reaction to SP based on who comes in, not who leaves.

I think the renewables direction will stay, the board after all would have signed off on the strategy as Looney interviewed for his role and shared his vision for bp - so they are also tied into accepting the direction

it does paint a picture of the male psyche… you can work your **** off for 25 years, sacrificing family and potentially kids to get the top job…. only to have it taken away because you can’t not sleep with someone at the same company you work with.

the man’s a millionaire in london, he could pay for some high class extra curricular activities if he needed to get it wet - blows my mind

FT article states it’s not due to financial performance but due to previous relationships with colleagues! The dawggggggggg

Either way, I hope Murray steps in and we keep most of our exec team - we have some real all stars at the executive level at the moment

If it’s on the FT I’d take it as the truth!

Me thinks the investor pressure got to him and the board would no longer back him. If so, this means the new CEO has to be more pro O&G which, for the SP at least is a positive

I've had a few realizations over the past 12m, thought I'd share:

1. The impact of the Saudi's alone can move the oil market - this is now my leading factor on my position in O&G shares. If they are protecting their margins them I'm holding

2. The impact of their dominance means one thing - greater political power going forward, expect the US /West to try and align more closely to them going forward. I believe this will materialize with greater Saudi investment into the US through some large scale M&A (above and beyond their PIF).

3. Renewables will be a beating stick for the SP until the first seeds of financial performance are shown, I expect a big push on the financial reporting side of things in Q2 reporting next year - this will be the acid test for high £5s

4. Renewables are a developed world problem - if you want to keep your exposure to O&G demand throughout your life, check Total's growth in Africa.

4. The "peak oil" phrasing is largely nonsense - no one knows when this will be and many forecast it to be late this decade - the earth is still on an upward trajectory for oil use

5. China vs. India - The growth in these energy markets will now to start to disband, China has a population crisis on its hands and as it grows more secular, India has a long way to go on growth - in my eyes China GDP growth is still outpacing most western markets so represents the 5 year S&S ISA play. India represents the pension play.

My mistake! misunderstood the accounting guidelines given!

Still material impact on Q3 results. I assume they have de-levered from variable interest loans when they reduced debt over the past 24 months.

Another $2.5bn in buybacks is another 2.8% reduction in share count - this is getting silly now !

Https://www.bp.com/en/global/corporate/investors/regulatory-news-updates-and-filings/trading-conditions-update.html

Avg. brent cost nearly $6 higher than last Q

Rule of thumb +/- $340m RCOP per $ of brent

6*340m = 2bn+ more than Q2

Gas increase nominal

Refining increase material

Strong q3 close is being priced in w/ upward momentum clear for Q4