Bp Share Discussion Threads

[bracke] 31/1/2019 12:52

Good day La Forge

Thank you for your post.

I prefer not to become involved in threads which are not of current interest so have to decline your request for a detailed analysis of Shell. Most of my time is spent trading.

I have looked at the Shell chart which is similar to BP. I note the share price made a lower low at 22.30 following which it has risen with a couple of gaps which appear to be with above ave volume.

A break and hold above the last high of 24.25 is the next target.

[la forge] 31/1/2019 12:25

bracke nice post and chart

could you do us the honour of much the same for the rdsa and rdsb threads

cheers in anticipation

[bracke] 31/1/2019 12:18

Good day optomistic

You will see during its decline the share price has risen to the black Median Line (ML) but no further and then dropped to the Lower Parallel (LP). On the last drop it did not reach the LP but held at 495 so no lower low.

The share price has now risen to the black ML and also to the shorter time frame blue ML. Holders need a move to a higher high (two are marked with dashed pink lines).

The Gaps

The daily average volume for BP. is 36.97 million. the 29th was 31.2 million and 30th was 35.3 million. Both days were a little below average. I suspect you are hoping that they are Breakaway Gaps but unfortunately they do not have the usual features of building a range followed by high volume. You will see that the share price gaps on a regular basis and fills them relatively quickly these are Common Gaps.

So in answer to your question I think they are Common Gaps. This does not mean that they will be immediately filled but neither do they indicate that the share price will take off as would be expected with a Breakaway Gaps.

BP. DAILY

[optomistic] 31/1/2019 11:50

They do look positive Skinny, ROC as well Back later...off to the gym.

[skinny] 31/1/2019 11:46

Gaps fascinate me, RSI & MACD looking positive.

[grupo guitarlumber] 31/1/2019 11:45

FTSE 100 peer BP (LON:BP) is scheduled to update investors on its fourth-quarter performance on Tuesday, February 5.

[optomistic] 31/1/2019 11:33

Eminent gurus have an insight into that Skinny ...and Bracke is known for her/his interpretation of gaps :-)
Been good to see the last couple of days direction.

[skinny] 31/1/2019 11:28

or

Another assault on 7000 coming up.

[optomistic] 31/1/2019 11:24

Bracke, using the benefits of your guru status...if you are around I would be interested in how you would classify these last two gaps and thoughts on where from here?

[ohojim] 31/1/2019 08:53

Limit sell triggered at 521, for half position.

[waldron] 30/1/2019 17:14

FTSE 100
6,941.63 +1.58%
Dow Jones
24,907.13 +1.33%
CAC 40
4,974.76 +0.95%


Brent Crude Oil NYMEX 62.43 +2.01%
Gasoline NYMEX 1.43 +3.97%
Natural Gas NYMEX 2.87 -1.00%

WTI (WTI)
- 30/01 17:52:09
54.8 USD +2.83%


Eni
14.644 +0.84%


Total
47.02 -0.47%


Engie
13.895 -1.07%

Orange
13.51 +0.15%



BP
511.4 +1.67%

Vodafone
136.7 +1.20%

Shell A
2,276 +1.70%


Shell B
2,285.5 +1.65%

[florenceorbis] 30/1/2019 10:37

ExxonMobil and Shell lead as counterparts lag on EPA's first methane rollback proposal
By EDF Blogs / Bio / Published: January 29, 2019

By Ben Ratner and Rosalie Winn

Methane emissions from the American oil and gas industry waste valuable resources, accelerate climate change and severely cloud the credibility of natural gas in the low carbon transition. Unfortunately, Acting EPA Administrator Andrew Wheeler has proposed to weaken standards limiting pollution from new and modified oil and gas facilities.

Companies across the value chain with a stake in the future of gas have an incentive to urge continued—and enhanced—nationwide methane regulation that helps industry as a whole improve. As EPA reportedly considers issuing an even more extreme, second proposal to eliminate methane regulation, some industry responses include promising signs of leadership that underscore just how out of step this administration’s attacks have been. Other responses (and non-responses) from industry have been more discouraging in supporting regulatory rollbacks that will increase harmful emissions and further call into question the role of natural gas as investors, customers and others demand cleaner energy.

ExxonMobil calls for continued EPA methane regulation

Importantly, ExxonMobil filed comments with EPA noting the company’s support for “federal regulatory standards to mitigate methane emissions for both new and existing source oil and gas facilities,” and urging EPA to “continue” to regulate methane. Exxon also expressed support for comments submitted by the American Petroleum Institute (API) that call for a loosening of the current leak detection and repair requirements for new sources.

Although EDF strongly disagrees with the API comments, Exxon deserves recognition for becoming the first company to call for continued EPA methane regulation. This aspect of Exxon’s comments supports its prior public commitment to advocate for methane regulation (BP, Chevron, Equinor and Shell are among those who have made the identical commitment) and position Exxon as an important voice against rollbacks in 2019 and beyond.
ExxonMobil and Shell lead as counterparts lag on EPA rollbacks


Shell supports continuation of twice-yearly leak inspections

With EPA proposing to weaken leak detection and repair frequency, Shell explained that from its experience, “a continuation of semiannual survey frequency is reasonable for the reduction of fugitive emissions from…affected sources.” By supporting continued twice yearly inspections, Shell showed leadership in becoming the only operator to oppose proposed EPA changes that would immediately increase emissions.

However, Shell stopped short of ExxonMobil by remaining quiet on the underlying need for continued federal regulation of methane, while noting its comments are intended to “complement” those submitted by API and other trade groups, which generally oppose federal methane regulation.

Other companies miss the mark

While some companies stepped up, others supported even more substantial rollbacks or stayed silent, letting lobbying from their trade associations’ lowest common denominator speak for them.

BP comments focused on innovative alternatives for compliance with leak detection standards, while largely ignoring the administration’s proposal to dramatically weaken the core standards themselves, and stopping short of Exxon’s call for continued federal methane regulation. EDF is committed to supporting efforts that incentivize innovative technologies and methodologies to achieve greater emissions reductions at even less cost. Unfortunately, EPA’s proposal to weaken the current core standards for leak detection—an essential element of a rigorous alternative compliance pathway—undermines incentives for innovation.

Other companies actively supported EPA’s proposed rollback and even more environmentally damaging actions. For instance, in its comments, Chevron urged EPA to adopt weaker standards, calling for EPA to implement “no more than an annual frequency for leak detection surveys.” Chevron asserted that increasing emissions with fewer inspections is an “appropriate tradeoff.”

And other companies with positive methane commitments, like Equinor, remained silent in the comment period, effectively allowing API to speak for them.

As the administration reportedly considers eliminating EPA regulation of methane for the oil and gas sector, companies like ExxonMobil and Shell have an opportunity to build on their initial leadership and support a responsible regulatory environment for climate and the future of American natural gas. Their upstream peers and companies across the value chain should join the call before it is too late.

[ohojim] 30/1/2019 09:44

I hope you are right Skinny. Either way, a better entry beckons. Still think we're doomed, doooomed I say.

[optomistic] 30/1/2019 09:24

Ummmm... OK I give in.

[skinny] 30/1/2019 09:20

Morning Optomistic - as you may know, resistance is fultile!

[optomistic] 30/1/2019 09:15

Morning Skinny...perhaps another line across the tops? resistance @ 625.

[skinny] 30/1/2019 09:09

ohojim - an additional line for you chart.

[optomistic] 30/1/2019 08:45

Good morning Penycae, He is a very well cared for monkey;-)
If you are going out on the hills this morning maybe you should get as far as the bacon butty van then return...all looking a bit bleak on the weather front :-(

[penycae] 30/1/2019 08:16

This morning, I have actually delivered a whole hand of bananas to my furry friend.

Trade well and prosper......

[waldron] 30/1/2019 05:08

30 Jan 2019 | 04:52 UTC Singapore

Analysis: BP looks to independent refiners to expand retail foothold in China

Author Oceana Zhou Sambit Mohanty Editor Elizabeth Thang Commodity Oil Topic President Xi's Second Term

Highlights

Move signals growing trust in the independent sector

Tough road ahead as retail margins get narrower

JVs a strong outlet for cargoes of independent refiners

Singapore — BP has launched its first retail gas station in China in partnership with an independent refiner, a sign that the oil major is now more willing to expand the scope of joint ventures, which until now was largely with Chinese state-run oil companies.
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The move by Shandong Dongming Yinglun Petroleum Co. Ltd. -- a joint venture between BP and Dongming Petrochemical -- to open its first gas station in Shandong is also a part of BP's ambitious five-year plan to open up to 1,000 retail fuel stations in China.

It is also a sign that Chinese independent refiners are starting to win the trust of global oil majors as reliable partners.

BP said in a press statement on Tuesday that the gas station, with Dongming as partner, had started operations in Jinan city in Shandong province.

This is the first gas station in China jointly started by a foreign oil company and an independent refinery. Market sources said this would lead to more intense competition in China's retail oil market as foreign companies would have the ability to bring in relatively better customer service experience.

"The Chinese market is critical to the development strategy of BP's downstream business. The new petrol station will be the first full-service BP site, which also demonstrates our continued supply of charging solutions, fuel and high quality goods and services to our customers with strong commitment," Tufan Erginbilgic, chief executive officer of BP's downstream business, said in the statement.

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NETWORK, MARGINS

Analysts and market participants said that although global oil majors would bring in service quality of international standards, it may not be easy to compete with the much larger network of gas stations owned by state-owned companies.

"Gas stations owned by national oil companies are located in relatively better areas and have better brand equity," Grace Lee, senior analyst at S&P Global Platts Analytics said. "Tying up with BP is a good thing for independent refiners as this provides a channel for their products, particularly at a time when state-owned oil companies are buying relatively lower volumes from them." she added.

However, the biggest challenge will be to earn robust margins amid intensifying competition in the retail sector.

"Profitability in the retail sector is getting increasingly squeezed because of competition. For state oil enterprises, margins used to be around 4%-5% during the later half of the past decade. Now, we are just seeing margins of slightly above 2%," Lee added.

BP currently operates around 740 gas stations in southern Guangdong and eastern Zhejiang provinces through joint-ventures with Sinopec and PetroChina, selling around 15 million liters/day of gasoline and gasoil to end-users, according to BP.

BP, in February 2018, set up a JV with Dongming Petrochemical in an effort to expand its retail network in China, with a special focus on China's eastern and central provinces of Shandong, Henan and Hebei. The 7.5 million mt/year independent refiner owns 51% stake in Shandong Dongming Yinglun Petroleum, while BP owns the remaining 49%.
OVERSEAS PARTICIPATION

Until mid-2018, Beijing had set a ceiling of 30 on the number of gas stations a foreign company can own. But a foreign company with a JV with a Chinese company was allowed to go above the ceiling.

However, in mid-2018, Beijing removed the restriction on the number of gas stations a foreign company can own independently -- as an effort to further open up the industry.

Currently, there are about 100,000 gas stations in China. Sinopec has the biggest retail sales network in China, with 30,643 gas stations. PetroChina has about 21,800 stations, while the rest are owned by state-owned CNOOC, SinoChem, independent companies and JVs between Chinese and foreign companies.

Sinopec and PetroChina used to have about 75% of retail market share, but that has fallen to somewhere around 60% due to price competition, slowing demand growth from end-users for petroleum products, and growing interest in electric vehicles.

There are currently about 3,000 gas stations in China, owned by foreign companies, such as Shell, BP, Chevron, ExxonMobil and Total, but mainly through joint ventures.

Shell has plans to set up an additional 2,000 gas stations by 2025, while Gulf Oil, which opened its first station last September, also plans to increase the number to up to 1,200 in 10 years.

"The lubricants business is quite good in those gas stations which are owned by foreign companies," a Beijing-based analyst said.

Beijing recently has also taken other steps to open up the domestic oil sector to overseas participation.

Earlier this month, China awarded a license to oil major Shell to independently trade oil products in China's domestic wholesale oil market, a sign that Beijing is keen to attract more international participation in its oil sector.

Shell (Zhejiang) Petroleum Trading Co, a wholly-owned subsidiary of Shell China, obtained the domestic oil product wholesale license from China's Ministry of Commerce. The license will enable Shell China's Zhejiang branch to carry out purchases and sales of oil products for its customers in the Chinese market.

-- Analysis by Daisy Xu, [e-mail]

-- Oceana Zhou, [e-mail]

-- Sambit Mohanty, [e-mail]

-- Edited by Elizabeth Thang, [e-mail] -

[philanderer] 30/1/2019 00:16

Market report:

London's oil and gas sector pushed off a 10-month low after Donald Trump stepped up his attempt to dislodge embattled Venezuelan leader Nicolas Maduro by slapping sanctions on its crude exports.

Oil prices bounced back above $60 per barrel as the White House ramped up the pressure on the socialist leader, hoping to propel Juan Guaidó into power.

The White House has imposed sanctions on state-run PDVSA’s oil exports to the US, currently the biggest buyer of Venezuelan crude.

[waldron] 29/1/2019 17:12

FTSE 100
6,833.93 +1.29%
Dow Jones
24,585.5 +0.23%
CAC 40
4,928.18 +0.81%


Brent Crude Oil NYMEX 61.38 +2.62%
Gasoline NYMEX 1.39 +2.71%
Natural Gas NYMEX 2.85 -0.70%

WTI
- 29/01 17:44:45
53.42 USD +2.65%



Eni
14.522 +0.62%


Total
47.24 +1.19%


Engie
14.045 +1.23%

Orange
13.49 +0.04%



BP
503 +1.64%


Shell A
2,238 +1.13%


Shell B
2,248.5 +0.97%

[ohojim] 29/1/2019 13:01

Monkeys aren't just for Christmas penycae! I'm currently holding 2 positions at average 510.5, normally I go to 4 positions for a swing trade, but holding off for the moment. BP spends most of it's time under a fiver, certainly on a long term (5 years) plus view. So, looking at the charts generally, I see support at 460, maybe down to 440. We may have had the nice fiver ++ phase for now. Here's a 10 year view.


free stock charts from uk.advfn.com

[philanderer] 29/1/2019 12:26

'BP invests $5m in AI firm as it looks to technology to boost its exploration activities'

[bracke] 29/1/2019 11:57

A monkey isn't just for profit.