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The past 18 months was ripe for negative sentiment towards BP and more specifically the SP. We would read with regularity that fossil fuels were destined for the bin and the transition to renewables, along with Labour's enthusiasm for net zero would be the ultimate demise of BP and others. Thank the Lord gas and oil is there in sufficient quantities - they iliterally keeps the lights on, heat our homes and keeps industry moving.

BP's sp is way undervalued due to the misconceptions of the past 18 months so there is a lot of catching up which should see the sp at levels where the top- end forecasters are suggesting - 550p?

In spite of this news natural gas futures are up 4.5% , this will feed into the bp's bottom line. The upward trend for the sp is firmly there.

What a difference, two weeks ago the SP appeared almost beyond hope. Long may this upturn last—fingers crossed!

The signs are good. Record gas prices - approx. 80% Oil / 20% Gas business. Oil prices easily in access of $70. Recent announcements of gas production off West coast of Africa and U.S. activities, as outlined by Neversell, along with the Trump mantra - Drill Baby Drill - news outflow is much more positive than in recent months.

Without exception, pundits were predicting lower oil prices in the last 3 months than the levels seen today. Have the market makers in the SP noticed? Revenues continue to flow into the coffers but the SP appears to ignore what actually is happening - is there a new year bounce ahead?

Driftking,

I agree with all your comments but only if certain provisos remain in place, namely the dominance of the Dollar. US debt is out of control and increasing all the time. The fed will need to increase the printing of the fiat currency just to keep the lights on and pay the wage bill.

A new world reserve currency is needed which is backed by precious metals and commodities - oil has a future and BP could unwittingly benifit from the financial turmoil ahead. IMO.

It's depressing seeing the SP at these levels, however, the consolation is that revenue from near-record gas prices and NYMEX trading at $70 a barrel will feed eventually into the bottom line- irrespectively however inefficiently this is utilised for shareholder value. But the fact the SP is currently trading sub £380 is very depressing.

BP, like so many listed companies, is unloved on its London listing. Surely, in the interest of shareholders, we should port over to New York and gain the appreciation the SP deserves.

Now that Barclays have turned negative on BP , I would treat their comments as a Buy signal. As analysts, their SP targets on a raft of ratings are so off the mark that their comments should be treated with extreme caution.

BP currently sounding progressive following recent statements. IMO.

SP up 20p /+5%

There appears to be the usual positive statements by BP that would ordinarily go unnoticed by the Market makers. Is there something more exciting going on here? Just a thought!!!

Nala

Totally understand where you're coming from, however, oil is not only used for petrol and diesel cars but used across the board in the mfg of all things pvc, and EV's will take many years, if ever, to become the majority of transport - air travel and shipping for instance will be totally reliable on fossil fuel oils for many a year. IMO.

Dividend seekers could do a lot worse than invest at these levels. The business that is BP is surely fundamentally sound? I'm nursing a serious unrecognised loss since entry level but I have concluded its best to stick this one out. BP surely is within an industry which is relevant to todays society as it was 10 and 20 years ago?

Meoryou

Thank you for that clarification, helpful. Maybe then as a result, the current SP is very undervalued?

BP trades Oil and Gas. SP is in the pits. Oil demand going forward is expected to be light hence the soft price. Gas demand and prices are at near record highs. Can anyone clarify what is the proportion of business Gas cobstitutes to the business vs Oil?

A positive for the SP. BP's focus on future business away from the U.K. and more specifically the U.S. can only benefit the S.P. going forward, providing B.P. doesn't fall back into the P.C. mantra of wind and solar and ' we must be seen to do what the Liberal left want'.

BP sp is disappointing to say the least. It's in the energy sector peddling oil and gas and active around, as per the recent annoucements. The excuse for the lagging SP due to a glut of oil globally is just an excuse for the poor performance. Mgt. needs to focus on shareholder's returns and simply abandon the P.C. mantra of doing the 'right thing'.

Couldn't BP be making overtures to Russia to ease future possible dialogue?

The Dollar and other G7 currencies are nothing more than issued paper backed by nothing more than a notional value. 1970's the Dollar was at least backed by Gold until Nixin decided to come away from the Gold standard. Commodities are surely the way to preserve wealth. Oil and Gas offers a tantalising prospect as a backer of currencies.

Wokism - yes I totally agree with your comments. P. C. policies are the order of the day throughout corporate U.K.plc from the fear of not being seen to do the right thing. BP needs to step back and reevaluate its stance on profitability rather than the policy of ' what will they say ' and ' what will the legal ramifications be '.

Energy companies should concentrate on their product and profitability.

The price of crude oil is at the lower end of forecasted prices and world consumption may or may not increase in the coming year/s - coupled with oversupply concerns are at the forefront of traders' minds. The SP has been battered due to the most pessimistic scenarios coming true.

The Dollar is losing its status as World Reserve currency. The BRICS nations are formulating their own currency based on real assets - i.e. precious metals and commodities.

BP may not be in favour at the moment but times are a-changing.