Bp Share Discussion Threads

[la forge] 18/11/2018 08:04

TO BE FRANK

NICE

[buywell3] 18/11/2018 00:43

Recent developments within OPEC and the USA re Shale OIL should cause Oilies to have a rethink soon

70% of crude oil is used for diesel manufacture

This is killing us by means of nasty particulates that we breathe ... kids and babies first

Our loosely termed Government ... who have been proved brainless and clueless of late

Have been forced into looking into banning diesel burning transport engines

As they are killing off voters

Trump , USA Shale oil ... still profitable at around $20 a barrel in many cases ... and recent developments in SA mean IMO that the production of EV vehicles is set to accelerate

Which means OIL usage for transport is set to drop

We are now at the tipping point

The point at which olde oily bulls thought they would never see

Usage of OIL is set now to decline

Other transport technologies are going to eclipse it and breathing its exhaust emissions us humans are to be frank killing us softly



good eh

[la forge] 17/11/2018 15:11

IOCs stay committed to south Iraq
IOCs are pushing ahead with plans for output expansion—and the phasing out of flaring—despite Basra violence this summer
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BP and Russia's Lukoil will move forward with output increases at their flagship projects in southern Iraq despite civil unrest that roiled the region this summer. Shell is also gearing up for an expansion of its gas venture which should deliver economic and social benefits.

BP, operator of the Rumaila field, Iraq's largest producer, aims to lift production there from its current 1.48m barrels a day to 2.1m b/d, although this is a downward revision from an initial target of 2.85m b/d due to logistical constraints such as the water supply, and has no intention of pulling out in the wake of violent protests in Basra.

"BP has been successfully operating the Rumaila oilfield for the past eight years without interruption. That speaks for itself," says Zaid Elyaseri, BP's Iraq country manager. "Long-term sustainability is what drives us." BP's Rumaila service contract runs until 2034, enabling the company to make long-term decisions.

And the Iraqi government recently approved a development plan that will double the current 400,000 b/d production at the Lukoil-operated West Qurna 2 field by 2025. "I strongly believe that much more potential for development will emerge in the coming years," Lukoil's country manager Yaroslav Okulov told an Istanbul conference, pointing to a "very promising discovery" in exploration block 10, 120km (75 miles) west of Basra. Preliminary estimates put recoverable reserves there at 2.6bn barrels.

Shell has sold its shares in the West Qurna 1 oilfield and handed the Majnoon field to the state-run Basra Oil Company. Its sole focus now is on gathering and processing associated gas. Shell is the 44% operating partner, alongside the Iraqi government (51%) and Mitsubishi (5%), in the Basrah Gas Company (BGC).

The BGC's brief is to gather associated gas from three major oilfields in the south: Rumaila, West Qurna 1 and Zubair. The operation, according to Shell's Iraq country manager Mark Wharton, "is truly mega-project in scale". At present, BGC is handling close to 1bn cubic feet a day of gas through two natural gas liquids trains, with three more trains being installed to take that figure up to 1.4bn cf/d over the next two to three years, and ultimately to 2bn cf/d. Dry gas is delivered to the power sector and liquefied petroleum gas (LPG) goes to the domestic market, with excess LPG production exported from Umm Qasr port.
1bn cf/d—BGC's gas production

Close to half of the gas that used to be flared from the three big fields is now processed. "Driving around southern Iraq," Wharton added, "the flares have been very visible. Step by step we're playing a strong role to take those flares away and turn them into useful products to benefit society and benefit the environment." By 2021, BGC aims to capture 94% of associated gas from the targeted fields.

The increasing natural gas and NGLs output will eventually outstrip domestic demand and Shell's intention is to develop a petrochemicals complex where the gathered gas volumes can be used as a feedstock. But a proposed liquefied natural gas export terminal, which was an initial goal of the southern Iraq gas project, and even got as far as the award of a FEED contract for a 4.5m tonne a year terminal to Italy's Saipem in 2014, appears to now be entirely off the table.

Shell's plans tick a number of boxes. "The young people need water, electricity and jobs," Mohammed al-Tamimi, deputy governor of Basra, told the conference. "Instead, they smell the smoke from the oilfields. I don't blame them if they go out and demonstrate."

For years, Iraq has been second only to Russia in the table of gas-flaring countries. Iraqis living in the region have complained for years about the poor air quality. Alongside frustrations at failings in the power and water supply, this resentment helped to fuel the summer's surge in violent protest.

But, even though the disorder may have caught IOC operators on the back foot, it has not weakened their resolve to remain in southern Iraq for the long haul. "The violence was a shock," says Shell's Wharton, "but we reviewed our security, as we always do, with the government and decided that it remains in a band where we can operate. We have a strong and unwavering commitment to Iraq."

The BP and Lukoil expansions will bring jobs and greater tax revenues, although it will also increase the volume of associated gas that requires either capturing by BGC or flaring. Shell's project is perhaps the most transformative—;offering benefits to government coffers and the local job market, particularly if the petrochemicals complex moves forward—but helping too to stabilise power supply and remove the acrid smell of flared methane from Basra's air.
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[waldron] 16/11/2018 17:18

Total
49.995 -0.23%


Engie
12.2 +0.33%

Orange
14.66 +0.24%


FTSE 100
7,013.88 -0.34%
Dow Jones
25,292.24 +0.01%
CAC 40
5,025.2 -0.17%


Brent Crude Oil NYMEX 67.03 +0.62%
Gasoline NYMEX 1.57 +1.43%
Natural Gas NYMEX 4.22 +4.46%


BP
524.9 -0.40%


Shell A
2,407 +0.23%


Shell B
2,453.5 +0.25%

[ny boy] 15/11/2018 20:22

Back to 545/50 area over the next few trading sessions

[badtime] 15/11/2018 12:54

Not really happy to keep core and happy to scalp some

[eentweedrie] 15/11/2018 09:16

talk about bad timing fellow!

[skinny] 15/11/2018 09:07

Interesting link bracke.

[bennodean] 15/11/2018 06:15

is that a typo ?

[tradejunkie2] 15/11/2018 00:04

Buy ready at 400p

[tradejunkie2] 14/11/2018 19:23

Buy ready at 400p

[waldron] 14/11/2018 17:26

Total
49.66 +0.30%


Engie
12.5 -0.36%

Orange
14.705 +0.51%

FTSE 100
7,033.79 -0.28%
Dow Jones
25,140.82 -0.58%
CAC 40
5,068.85 -0.65%



Brent Crude Oil NYMEX 66.68 +1.85%
Gasoline NYMEX 1.57 +1.69%
Natural Gas NYMEX 4.57 +11.36%


BP
512.1 -0.27%


Shell A
2,358.5 -0.80%

Shell B
2,406.5 -0.93%


TOMORROW

[badtime] 14/11/2018 15:15

Out at 517.., retain core

[highball10] 14/11/2018 14:29

Bought at £5.03 yipee

[badtime] 14/11/2018 12:27

Finger hovered over the buy button at 502..but I passed but did pick up some yesterday at 506/7

[ny boy] 14/11/2018 12:26

Went shopping for a few more just over 500p, fantastic opportunities abound, best ignore the noise and buy when some blood on the streets! Solid blue chip multi national with an attractive annual divi, what’s not to likey!

[essentialinvestor] 13/11/2018 20:41

£4?, Never say never given the huge volatility.
Would expect OPEC production cuts to kick in before then.
BP got down to the 4.60's in March, so a little surprised we are above £5,
given the oil price declines.

[stevenrevell] 13/11/2018 20:33

Wonder iff we will get £4 again

[badtime] 13/11/2018 16:19

Nabbed a few to trade at 507 ...enough core so won't probably keep

[ny boy] 13/11/2018 16:05

Sp is at a silly level, they are making shed loads of cash at $50 a barrel

Common sense will return.

A key stock in a portfolio imo