Bp Share Discussion Threads

[sarkasm] 20/5/2019 12:56

Bp amoco: Morgan Stanley remains overweight
Friday, May 17, 2019 at 2:17 pm
BFM Stock Exchange

Morgan Stanley retains the BP title among its five favorites in the European energy sector, maintaining an 'overweight' recommendation and a 620 pence course target on the UK group's action.

In its research note, the broker believes that energy stocks have been 'oversold' despite higher oil prices. 'Valuations are low and the dividend yield of the sector is particularly attractive', he says.

[waldron] 20/5/2019 11:17

GREENBIZ

'Unprecedented': Why BP investors holding billions in shares are backing a climate resolution
Michael Holder
Monday, May 20, 2019 - 12:30am
BP sign and money hands
GreenBiz Collage

Leading BP investors holding the equivalent of around $12.7 billion of shares in the oil giant have co-filed a resolution urging the company to set out a business strategy consistent with the goals of the Paris Agreement, in a move they claim has secured "unprecedented" levels of shareholder backing.

The 58 investors, acting as part of the Climate Action 100+ initiative, own just under 10 percent of BP voting shares between them, which they claim marks the highest proportion of support yet received for a shareholder resolution calling for climate action at a major corporate.

And crucially, following engagement with investors, BP's board has already said it will support the resolution at this year's AGM, which takes place May 21.

A BP spokesman explained that the resolution would "deepen our reporting in this important area and will help investors appraise the company's progress in relation to the dual challenge" of providing affordable and clean energy.

Similar action from Climate Action 100+ investors last year forced rival oil giant Shell to give its backing to a shareholder resolution on climate action, as a result of which it agreed to link its executive pay rewards to performance against its emission reduction targets. Both Shell and BP have been stepping up their investments in low carbon industries in recent years, but continue to face criticism from campaigners that they are failing to take concerted enough action to shift away from fossil fuels.

Shell and BP have been stepping up investments in low carbon industries, but continue to face criticism that they are failing to take concerted enough action to shift away from fossil fuels.

The BP resolution calls on the oil firm to play its part in containing global average temperature increases to "well below" 2 degrees Celsius, and stresses that the Paris Agreement requires a considerable reduction in demand for fossil fuels, as well as investment to help shift its production.

It also sets out a number of transparency requirements for BP to report on its consistency with the Paris Agreement with regards to: new capital investments; greenhouse gas reduction targets; investment in oil, gas and other energy technologies; estimated carbon intensity of energy products; and links between the firm's targets and executive remuneration.

Steve Waygood, chief responsible investment officer at Aviva Investors — one of the shareholders backing the action — said BP's support for the resolution "demonstrates how the investment industry can collaborate to instigate meaningful change."

"The scientific consensus is crystal clear on the need for far-reaching action by corporates, with the next decade critical in limiting global warming to 1.5 C. Investors have a responsibility to hold companies to account and to ensure they consider their alignment with the Paris Agreement," he said. "We hope that this first, but important, step represents a shift by the oil and gas sector in tackling today's climate emergency head-on."

Investors have a responsibility to hold companies to account and to ensure they consider their alignment with the Paris Agreement.

However, the resolution stops short of requiring BP to set emissions reduction targets covering all of its emissions, including from its Scope 3 greenhouse gas emissions caused by the burning of its oil and gas products, which account for the lion's share of its emissions footprint.

BP also has called on its shareholders to reject a separate shareholder resolution next week tabled by activist investor group Follow This that would force the oil giant to set Scope 3 emissions reduction goals. Follow This argues only emissions goals including Scope 3 emissions can be compliant with the Paris Agreement.

Nevertheless, investors behind the Climate Action+ resolution include some the United Kingdom's largest asset and fund managers — Aviva Investors; HSBC Global AM; Legal & General Investment Management; M&G Investments; Schroders; UBS AM; and Royal London AM — and the action also marks the first time leading investors have opted to initiate a shareholder resolution by co-filing.

Stephanie Pfeifer — member of the global Climate Action 100+ steering committee and CEO of the Institutional Investors Group on Climate Change (IIGCC) — said support for the BP resolution demonstrates how investors are increasingly embracing an active approach to stewardship of assets they manage with regards to climate change.

"The scale of investor support for the BP resolution is truly unprecedented," she said. "It is the first time globally that shareholders holding a 10 percent stake in a major listed company have filed a resolution on climate change. Investors will continue to build on this momentum and expect companies to embrace the opportunity this provides to strengthen their business."

It is the first time globally that shareholders holding a 10 percent stake in a major listed company have filed a resolution on climate change.

The move signals increasingly tough action from shareholders on major carbon-emitting firms, which comes amid a surge in public concern over climate change amplified by high profile protests and school strikes in recent months. Recent surveys have shown levels of concern about climate change are higher than ever in both the United Kingdom as well as the United States.

And there are signs shareholder climate action isn't just taking aim at fossil fuel producers, it seems, but also major users. At their AGM's this year, auto giants Daimler and Volkswagen are also facing calls from Hermes Investment Management, which looks after $42.64 billon of assets worldwide, to align their business strategies with the Paris Agreement goals and take better account of climate risk.

Hermes' Equity Ownership Services' (EOS), also a member of Climate Action 100+, today outlined its voting recommendations for both AGMs, explaining that it would raise questions at the meetings about both companies' climate change strategies. VW's AGM is taking place today, ahead of Daimler's next week.

Both companies have expanded their plans to develop their electric vehicle portfolios in response to future regulatory change and surging consumer demand for battery cars.

Both companies have expanded their plans to develop their electric vehicle portfolios in response to future regulatory change and surging consumer demand for battery cars.

But Hans-Christoph Hirt, head of Hermes EOS, said he wanted to see automotive firms intensify their efforts further in preparation for a low carbon world by developing and clearly articulating their strategies for managing their impending transformation.

"This requires setting short, medium, and long term targets to be aligned with the goals of the Paris Agreement, including for average fleet emission reductions, low-carbon vehicle sales and capital expenditure targets," said Hirt. "Investors want to see companies demonstrate the long-term viability of their business models and product offerings so that they are in a position to prosper in a net-zero emissions economy."

All in all, it means two of the world's biggest oil companies, and now two of the world's biggest car companies, are facing unprecedented pressure to provide clarity over their plans to align their businesses with a future, low carbon economy, as the transition away from fossil fuels gathers increasing support.

Which companies might be targeted next?
This story first appeared on:
BusinessGreen

[adrian j boris] 19/5/2019 16:48

MORE IMPORTANTLY


WHO WOULD BE THE STARS AND WOULD IT HAVE A HAPPY ENDING

[coolhandfluke] 19/5/2019 16:44

Sounds like another good film in the making.

[waldron] 17/5/2019 16:43

FTSE 100
7,348.62 -0.07%
Dow Jones
25,852.11 -0.04%
CAC 40
5,438.23 -0.18%


Brent Crude Oil NYMEX 72.14 -0.66%
Gasoline NYMEX 2.01 -0.76%
Natural Gas NYMEX 2.64 -0.08%


(WTI) - 17/05 18:21:18
62.7 USD -0.76%



Eni
14.84 +0.61%


Total
49.17 +1.16%


Engie
13.58 -1.74%

Orange
13.825 +0.33%



Bp
556 +1.15%

Vodafone
124.28 -0.46%

Royal Dutch Shell
2,536 +0.58%


Royal Dutch Shell
2,541.5 +0.40%

[grupo] 16/5/2019 16:31

No, The Oil Glut Hasn’t Disappeared
By Nick Cunningham - May 16, 2019, 11:00 AM CDT
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Global oil demand may be a bit lower this year than previously thought, weighed down by weaker consumption rates in emerging markets.

The International Energy Agency lowered its demand growth projection for 2019 by 90,000 barrels per day to 1.3 million barrels per day (mb/d). It also revised down its 2018 demand figure by 70,000 bpd to 1.2 mb/d.

In the first quarter, demand in Brazil, China, Japan, Korea, Nigeria, and elsewhere came in lower by about 410,000 bpd than the IEA previously expected. First quarter demand was up 640,000 bpd from the same period a year earlier, but that was down from last month’s forecast of a 1 mb/d year-on-year increase. Importantly, while non-OECD demand was up strongly, OECD demand actually contracted by 300,000 bpd in the first quarter, the second consecutive quarterly decrease.

The agency said that the dip is likely temporary, and demand should pick up over the course of the year. The first quarter may be chalked up to a “tough quarter rather than the start of a new trend,” the IEA said.

But the lower demand figure ultimately meant that the global oil market was in surplus in the first quarter by about 0.7 mb/d, a larger glut than expected.

“As we move through 2Q19, while there is considerable uncertainty on the supply side, it is highly likely that the implied balance will flip into an indicative deficit of about the same size,” the IEA said in its report. “Stocks in the OECD at the start of April have fallen back to the level seen in July in terms of days of forward cover and other stock indicators are pointing in the same direction.”
Related: Putin Could Cut His Loss As Venezuelan Oil Output Nosedives

But the U.S.-China trade war could complicate this rather sanguine outlook. The OECD estimates that last year’s round of tariffs shaved off a quarter percentage point from GDP in both countries. The latest increase in tariffs could double the impact to a half percentage point by 2020.

Another potential round of tariffs looms. Trump threatened to put levies on the remaining $300 billion or so of Chinese imports, which could happen in a few months if a deal is not reached. If that occurred, GDP would dip by three quarters of a percentage point and global trade would fall by 1 percent. “Needless to say, such a downward revision to GDP and trade growth would have negative implications for oil demand,” the IEA warned.
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On the supply side, the outlook is “confusing,221; the IEA conceded. Rapid declines in Venezuela and Iran combine with unrest in Libya and the sudden flare up of attacks in the Arabian Peninsula. The contamination issue related to Russian oil traveling through the 1.4 mb/d Druzhba pipeline will be resolved “in due course,” but it could result in a “loss of confidence in the quality” of the oil coming from Russia, which may “intensify price pressures for heavy/medium sour crude oil,” the IEA added.

Overall, global oil supply declined by 300,000 bpd in April to 99.3 mb/d, “led by losses in Canada, Kazakhstan, Azerbaijan and Iran,” the IEA said. However, production increases in Brazil, the U.S., and (surprisingly) in Libya and Nigeria mitigated the supply losses.

Related: New York Ditches Gas Pipeline Proposal Despite Soaring Electricity Bills

Some of the outages are related to maintenance, which should ease. In June, for instance, maintenance in the North Sea is expected to take some barrels offline for a period of time. However, even as these projects come back online and supply rebounds, the “pace of growth will ease further,” the IEA said.“A slowdown in drilling, lower capital allocations and faster base declines underpin our weaker growth projections for the US,” the IEA said. “Expansions in Canada, which averaged nearly 400 kb/d last year, have stalled and further declines are expected in the North Sea.” Higher spending in China could reverse losses, while production should grow in Brazil.

In total, non-OPEC supply growth is expected to reach 1.9 mb/d this year, down from 2.8 mb/d in 2018.

Putting it together, prices are largely trading at about the same levels as a month ago, but the one notable change is the shift in the futures curve. A steeper backwardation – in which near-term contracts trade at a premium to longer-dated futures – suggests tightness in the market. As the IEA notes, front-month oil futures are trading $3 per barrel higher than contracts six months out.

The end result is that the oil market is sending “mixed signals,” the IEA said. Weaker demand combined with supply outages and slowing but still significant production growth – it paints a confusing picture in which the market is tightening, but not overly so.

By Nick Cunningham of Oilprice.com

[waldron] 16/5/2019 16:11

FTSE 100
7,353.51 +0.78%
Dow Jones
25,929.89 +1.10%
CAC 40
5,448.11 +1.37%


Brent Crude Oil NYMEX 73.19 +1.98%
Gasoline NYMEX 2.03 +2.52%
Natural Gas NYMEX 2.64 +1.31%

(WTI) - 16/05 17:48:40
63.23 USD +1.64%


Eni
14.75 +1.60%


Total
48.605 +1.83%


Engie
13.82 +1.54%

Orange
13.78 +0.95%



Bp
549.7 +1.91%

Vodafone
124.86 -0.90%

Royal Dutch Shell
2,521.5 +0.10%


Royal Dutch Shell
2,531.5 +0.22%

[waldron] 15/5/2019 16:44

FTSE 100
7,296.95 +0.76%
Dow Jones
25,677.07 +0.57%
CAC 40
5,374.26 +0.62%


Brent Crude Oil NYMEX 71.99 +1.05%
Gasoline NYMEX 1.99 +1.97%
Natural Gas NYMEX 2.62 -1.58%

(WTI) - 15/05 18:13:04
62.08 USD +1.32%



Eni
14.518 -0.59%



Total
47.73 +0.70%


Engie
13.61 +1.26%

Orange
13.65 -0.07%


Bp
539.4 +0.90%

Vodafone
126 -0.66%

Royal Dutch Shell
2,519 +1.14%


Royal Dutch Shell
2,526 +1.14%

[chinese_takeaway] 15/5/2019 10:07

https://twitter.com/GoodnightCharl1/status/1128589775068438528?s=19

[skinny] 15/5/2019 09:36

I've just had this email :-

"It’s been a great journey, but after 16 years together BP will be leaving Nectar on 31 May 2019. Thank you for your loyalty throughout the years. If you’re a BP customer, there’s something new just down the road – BP’s very own rewards programme. To stay informed click the link below."

Hardly life changing I know.

[waldron] 14/5/2019 16:24

FTSE 100
7,241.6 +1.09%
Dow Jones
25,652.93 +1.29%
CAC 40
5,341.35 +1.50%


Brent Crude Oil NYMEX 71.43 +1.71%
Gasoline NYMEX 1.98 +1.07%
Natural Gas NYMEX 2.65 +1.07%

(WTI) - 14/05 18:03:06
62.03 USD +1.79%



Total
47.4 +1.14%

Engie
13.44 +1.86%

Orange
13.66 +1.04%

Eni
14.604 +1.26%


BP
534.6 +1.58%

Vodafone
126.84 -3.75%

Shell A
2,490.5 +1.76%


Shell B
2,497.5 +1.61%

[grupo] 14/5/2019 07:03

RDSB HSBC Buy from 2,730.00 to 2,740.00 Upgrades

RDSB Deutsche Bank Buy from 2,650.00 to 2,700.00 Upgrades





BP. HSBC Buy 650.00 - Reiterates

[waldron] 14/5/2019 05:49

The Guardian: A coalition of major City investors have emerged as key players in forcing BP to be more transparent in how it fights climate change.

[ny boy] 13/5/2019 16:29

All good here, a great stock to add on the dips, stay patient, long term rewards, quarterly divis, what’s not to likey

[waldron] 13/5/2019 16:24

FTSE 100
7,163.68 -0.55%
Dow Jones
25,313.7 -2.42%
CAC 40
5,262.57 -1.22%

Brent Crude Oil NYMEX 70.15 -0.67%
Gasoline NYMEX 1.97 -0.76%
Natural Gas NYMEX 2.62 +0.00%

(WTI) - 13/05 18:01:12
61.16 USD -0.20%


Eni
14.422 +1.09%



Total
46.865 -0.01%

Engie
13.195 +0.57%

Orange
13.52 -1.53%


BP
526.3 +0.40%

Vodafone
131.78 -5.19%

Shell A
2,447.5 +0.87%


Shell B
2,458 +1.03%

[baztea49] 13/5/2019 10:54

BP has went ex D but RDSB has not so this will explain some of the drop.

[la forge] 13/5/2019 10:14

proactiveinvestors

Shell finds favour, while analysts see fresh caution over BP’s oil spill pay-outs
12:27 02 May 2019
Overall there are positive for both of London's 'big oil' firms, though the outlook is seen to comprise somewhat different challenges.
oil and gas operations
Shell's first quarter beat expectations across most metrics

What did we learn from this week’s ‘big oil’ financial results? – It's that market sentiments are falling in favour with the ‘impressive217; Royal Dutch Shell plc (LON:RDSB) over the ‘good but not great’ performance of BP plc (LON:BP)

Whilst BP’s results, released Tuesday, were called ‘solid’ and ‘resilientR17; today’s figures from Shell beat expectations with the ‘clean’ CCS earnings number coming in at US$5.3bn versus market forecasts of US$4.54bn.

Shell shares rallied 59p or 2.4% to trade at 2,484p in Tuesday’s dealing.

Away from the financials though a Dutch court on Wednesday decided it had jurisdiction to hear a case brought by widows of Nigerian anti-oil activists who were executed by the Nigerian government in 1995.
READ: Shell boss Ben van Beurden boasts of “strong start” to 2019

Reacting to Thursday’s Shell results, analysts at UBS highlighted that the Anglo-Dutch beat expectations across all operating segments, whilst pitching a ‘buy’ recommendation with a 2,900p price target (some 16% above the current price of 2,488p).

Elsewhere, RBC analyst Biraj Borkhataria described “a strong set of numbers” and said that it confirms Shell is closer to reaching its 2020 free cash flow targets.

Borkhataria highlighted that in a stronger quarter the integrated gas business led the charge for Shell.

Going into the week there had already been a sense that Shell’s strong recent share price performance was leaving even its more bullish followers feeling somewhat fatigued.

This was reflected RBC’s somewhat tentative ‘downgradeR17; to a mere ‘sector perform’ view. Rather than seeing it Shell the stand-out oil major, in now retains a positive point of view but sees the company as part of the pack.

Specifically, RBC reckons a further US$30bn of share buy-backs might be needed, which would burden and restrict Shell’s ability to “high grade” its asset portfolio over time.

If RBC’s downgrade of Shell was tentative, it’s perspective on BP is now “incrementally cautious”.

Tuesday’s results statement showed a company with positive upstream and downstream operations, production was in-line with expectations, costs were lower, and an increase in the dividend was welcomed.
RBC says BP spill costs are 'creeping up'

Borkhataria nevertheless has reservations, around two points in particular. One is the tougher pricing around Canadian heavy crude and weaker refining margins, the analyst reckons there’s support through 2020 but beyond that the impacts could dent upside in the future.

Secondly, and perhaps more easy for lay investors to get to grips with, Borkhataria stated his surprise that charges related to the Macondo oil spill amounted to US$654mln during the first quarter.

In a note, the analyst looked back at past models of the pay-outs and determined they have been ‘creeping up’.

“Since 4Q16, BP's Macondo charges have been more negative than our forecasts in 11 of the last 12 quarters,” the analyst said.

“In total, since 4Q16, we estimated around $9.5bn in payments for Macondo, and BP has paid out $11.5bn.

“We think investors typically write these charges as ‘one-off’;; however, given the consistency of the negative surprises, we feel the need to be more prudent.”

RBC now anticipates some US$3bn of Macondo charges for 2019, up 50% from a prior estimate of US$2bn, and, the Canadian bank assumes US$2bn will be paid in both 2020 and 2021 rather than US$1.1bn each year.

In the wake of the results, RBC downgraded its BP target price to 615p from 625p though it retains a positive ‘outperform217; rating for the stock.

[la forge] 13/5/2019 10:12

Monday 13 May 2019 11:06am
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BP: Discipline and efficiency underpin 'buy' case
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Richard Hunter
Richard is a Fellow of the Chartered Institute for Securities & Investment (FCSI [..] Show more
BP: Discipline and efficiency underpin 'buy' case (Source: Getty)

Profits are down in the first quarter, but BP remains on track, writes our head of markets.

BP (LSE:BP.) may not have repeated its immense performance from the full-year numbers in February, but nonetheless remains on track to deliver on its strategic promises.

The company's prodigious cash flow continues to enable its share buyback programme, which will ramp up further in the second half of the year. Meanwhile, there is also an increase to the dividend in the quarter, which will add to an already attractive yield of 5.6%.

The company now has operational control of acquired BHP assets, which should lead to the synergies previously identified in due course, while the more recent strength in the oil price, which should filter through in the second quarter, will further bolster the numbers. The underlying replacement cost profit has dipped 8.9% against strong comparatives, although the figure is slightly above expectations.


Source: TradingView Past performance is not a guide to future performance

As ever with a company of BP's complexity, there are areas of the business which require constant attention. Inevitably, the volatility of the oil price at the beginning of the year had an impact, whilst the company's gearing figure has inched higher to 30.4%, although the company has reiterated its intention to reduce this figure to somewhere around 25% net year, following further divestments.

Meanwhile, revenues dipped slightly for the quarter and the Gulf of Mexico spill is not yet ready to be consigned to the history books, with another £600 million of payments made in the quarter.

Overall, however, progress may be complicated, but it is clearly visible.

The shares have also seen the benefit of BP's stated objectives, having risen 3% over the last year, which compares to a dip of 1% for the wider FTSE 100 index and having spiked 10% in the last three months alone.

The company's historic position as a core portfolio constituent is in little danger, and a matching market consensus of the shares as a 'buy' is most likely to remain intact.