Bp Share Discussion Threads

[gooner1886] 10/4/2020 23:55

We shall see how the market reacts next few weeks/months

[gateside] 10/4/2020 23:49

Heating, essential travel, Food production & distribution etc. China almost back to normal.... The world is not at a total stand still!

[gooner1886] 10/4/2020 23:32

Where is the demand coming from then lol? Worlds at a standstill

[alphorn] 10/4/2020 22:19

G20 backs largest oil supply agreement in history. US and others throw weight behind Opec and Russia’s production cuts. (FT tonight)

[paddybear2] 10/4/2020 22:19

Typical gooner ?? zero demand ? Wally

[kasamavic] 10/4/2020 19:48

Can you explain the relavance of the tankers and in which way that may affect BP?Thanks

[gooner1886] 10/4/2020 18:03

Zero demand for next 2/3Months though thats the realIssue, think the market will see through these cuts come next week, we shall see

[gwatson56] 10/4/2020 11:31

Good news re cuts in production, common sense prevails. Interested to see that KSA have dispatched seven tankers (14 Mil Barrels) to US, by my reckoning will arrive mid May. Suspect lots of lobbying re tariffs etc by US producers and the President will make the call. Thing is ships can turn around if the incentive is there.

[simonc5] 10/4/2020 10:53

Thanks veryniceperson, i'm reassured by that :)

In my research I saw that BP has been around since 1908 and has survived wars and price crashes in the past, but knowing you have invested too and are not losing sleep is good to know.
S

[veryniceperson] 10/4/2020 10:31

Medium term Simon you will do ok. The dividend 9.5% roughly and what you brought at, pretty good price. I brought some at 348 about week ago. With dividend and growth we will do okay. Sleep easy Simon I will.

[simonc5] 10/4/2020 10:20

Hmmm. I bought before the close yesterday so am sat pretty nervously this morning waiting for the outcome of the G20 summit meetings over the weekend.

I am a newbie to share investing but I'm looking at being a medium term investor, so I'm hoping after 3 or so years the money I've invested will begin to bear fruit.
Are you guys pessimistic for the future of the share or are you bullish medium term?
S

[warranty] 10/4/2020 09:14

The cut whilst helpful, won’t offset the lack of demand the longer this virus shutdown continues so it’s not really a surprise oil prices have declined. Rather than rise, I see only further share price falls for Oiler’s when markets reopen on Tuesday. Good time to top up for the long term if you’re brave enough.

[paddybear2] 09/4/2020 22:55

That made me laugh ! Very good in a gloomy few weeks !!!

[kasamavic] 09/4/2020 22:54

It hasn't helped the oil prices, down from $28 to $23 after the announcement.

[prunk] 09/4/2020 22:48

Good news for oiles.

[veryniceperson] 09/4/2020 20:03

(Bloomberg) -- Saudi Arabia and Russia ended a devastating oil price war on Thursday, agreeing to slash output together with other members of the OPEC+ alliance in an effort to lift the market from a pandemic-driven collapse.The tentative deal came after strong pressure from U.S. President Donald Trump and American lawmakers, who fear thousands of job losses in the U.S. shale patch, not to mention Wall Street chaos. The price crash has also threatened the stability of oil-dependent nations and forced companies from Exxon Mobil Corp. to small independents to rein in spending.OPEC and its allies, meeting by video conference, agreed to cut production by about 10 million barrels a day in May and June, delegates said, asking not to be identified ahead of an official statement. Saudi Arabia and Russia, the biggest producers in the group, will each take output down to about 8.5 million a day, with all members agreeing to cut supply by 23%, one delegate said."Both Saudi and Russia were going to have to cut anyway, and these cuts allow them to win political points too," said Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd.While the headline cut equates to a historic reduction of about 10% of global supply, it makes up just a fraction of the demand loss, which some traders estimate at as much as 35 million barrels a day.Brent crude erased earlier gains, trading down 2.3% at $32.10 a barrel as of 7:23 p.m. in London. Prices have tumbled by half this year as the spread of the coronavirus coincided with a bitter price war that saw producers flood the market."Covid-19 is an unseen beast that seems to be impacting everything in its path," Mohammad Barkindo, secretary-general of the Organization of Petroleum Exporting Countries, said in a speech at the online gathering. "The supply and demand fundamentals are horrifying" and the expected oversupply, particularly in the second quarter, is "beyond anything we have seen before."Barkindo urged action to tackle the growing surplus, which he estimated at 14.7 million barrels a day in the second quarter. And he wants action not only from OPEC+ producers but from nations beyond the alliance.On top of the planned 10 million-barrel reduction, OPEC+ is seeking cuts of as much as 5 million a day from Group of 20 countries, delegates said.A contribution from the G-20, whose energy ministers are set to hold talks on Friday, could give extra potency to efforts to revive prices. Russia has insisted that the U.S. in particular do more than just let market forces reduce its record production. Trump, meanwhile, has said America's cut will happen "automatically" as low prices put shale in dire straits, a sentiment reiterated by his energy secretary on Thursday.Tapering OffOPEC+'s tentative plan would see the output curbs tapering off after two months, depending on the evolution of the coronavirus. The 10 million-barrel-a-day cut may shrink to 8 million a day from July and then 6 million a day from January 2021, according to one delegate.Saudi Arabia will apply its reduction to a production level of about 11 million barrels a day, a delegate said. That's lower than recent output levels, which rose above 12 million a day in early April.The oil price war, which started in March after the collapse of previous OPEC+ talks, lasted exactly 31 days, far fewer than similar feuds in 1986, 1998 and 2016. But in that short period, it has forced companies from Big Oil giants to U.S. shale independents to slash spending, fire workers and cancel projects. Meanwhile, oil-rich countries have gone cap-in-hand to the International Monetary Fund and the World Bank for help, hobbled by low prices.In the first seconds of trading after the start of the price war, Brent plunged more than 30%, its largest one-day drop since the Gulf War in 1991. Oil has since has suffered wild price moves, often rising and falling by 10% in the same day. With demand in freefall and supply plentiful, traders have cashed in, storing the surplus crude anywhere from onshore tanks to supertankers.The curbs agreed on Thursday dwarf any previous market interventions, and are urgently needed to boost the physical market for crude -- trade in actual cargoes rather than futures contracts -- but they won't match losses from the deep slump in consumption."For oil markets, the massive oil-demand contraction is unprecedented," OPEC said in an internal document circulated to ministers and seen by Bloomberg. "The current outlook looks extremely bleak, with oil markets anticipated to be severely tested on many fronts."(Updates with agreed Saudi, Russian output levels in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

[smartie6] 09/4/2020 19:48

A man was driving along in his car with the window down when a Bee flew into the car. The man pulled the car over, carefully put his hand on the Bee, and stepped out of the car and released it.
He got back in the car and drove down the road for about a mile when the car suddenly stopped. On investigating his problem, the same Bee passed by and asked the man what the problem was. The man said to the Bee, sadly I’ve run out of petrol. The Bee went away and came back with over a hundred Bees. They swarmed around the tank and after a few minutes the Bee came back to the man and said that should work fine now. The man got in the car and the engine started straightaway, with the fuel tank showing full.
He wound down his window and asked the Bee what he and his friends had done. The Bee responded you can do great things with BP.

[teamwork1] 09/4/2020 19:34

BP PLC's sale of its Alaskan business is in jeopardy after a group of banks balked at financing the $5.6 billion deal to buyer Hilcorp Energy Co. amid a historic rout of oil and gas prices, according to people familiar with the deal.A failure to complete the deal would be a blow to BP, which already has the highest debt levels -- in relation to its size -- among the major oil companies and is counting on the transaction to help reduce its debt. It is the largest deal involving oil and gas production assets globally that has yet to close, according to data provider Dealogic.A group of banks led by JPMorgan Chase & Co. and including Wells Fargo & Co. had earlier discussed providing privately held Hilcorp with a reserve-based lending facility to help finance the deal. The proposed vehicle would essentially be a loan based on the future cash flows from oil and gas assets. But the collapse in oil prices related to the coronavirus pandemic and cratering energy demand has made the banks uncomfortable providing the loan, say the people familiar with the matter.BP declined to comment on the deal. JP Morgan and Wells Fargo also declined to comment.The global benchmark oil price has fallen nearly 60% this year as an unprecedented glut of crude builds while much of the global economy is closed. BP's shares are down 29% this year, in line with peers such as Chevron Corp. and Total SA.BP and other large, Western oil companies have been using asset sales to help fund their capital expenses and dividend payments to investors for years. But the market for oil and gas assets has become virtually nonexistent, meaning major oil firms may have to take on more debt to fund their budgets and maintain investor payouts.For BP, the deal with Hilcorp represents a large chunk of the $15 billion asset sales it aims to complete by mid-2021. The divestments should help lower the company's gearing -- the ratio of net debt to the total of net debt and equity -- which stood at 35% including leases in the fourth quarter, higher than any of its peers. This is above the company's long-term target level of between 20% and 30%.The company said in a trading update last week that it expected the deal with Hilcorp to close by the end of this year, subject to regulatory approvals. Some analysts said that this wasn't their expectation however and that they had removed the divestment income from cash proceeds.The Regulatory Commission of Alaska asked Hilcorp Energy on April 2 to explain whether the recent changes in financial markets have impacted its access to capital to finance the purchase of BP's assets, requesting a response by May 4.Hilcorp management told bond investors on a call on Friday that whether the deal proceeds or not, its goal is to have things move forward on an amicable basis with BP, because they've done lots of transactions in the past and they'll continue to do business, according to a recording listened to by The Wall Street Journal.A Hilcorp spokesman didn't respond to a request for comment.Hilcorp's past acquisitions of BP assets in Alaska include a 2014 deal for BP's interests in four oil fields and associated pipelines.Lenders were already pulling back from oil-and-gas companies before the current route, and the virus has only made money harder to come by. The majority of oil-and-gas companies expect their revolving lines of credit to be cut by 20% or more this spring, according to an April survey of companies by U.S. law firm Haynes and Boone LLP.The yield on Hilcorp Energy Co.'s bonds due in 2028 was around 20% on Wednesday, up from around 6.5% in early January, according to MarketAxess, leading investors to say Hilcorp's bonds appear distressed."Given the current capital markets environment, financing could be challenging for the proposed BP transaction," rating agency S&P Global said in a note published on Tuesday.S&P Global said it would be "challenging" for Hilcorp to get back the $500 million deposit it had already paid for BP's assets, even if the transaction doesn't close.In the midst of the demand-sapping coronavirus outbreak, BP has recently pledged austerity, saying it will cut its budget by 25% earlier this month and is planning to cut costs by $2.5 billion over the next two years.The British giant's competitors also have large divestment programs that will be challenged for the foreseeable future. Exxon Mobil Corp. has also targeted $15 billion in asset sales, which it previously said were on track. This week, Exxon said it would cut its budget for 2020 by $10 billion.--Sam Goldfarb and David Benoit contributed to this article.Write to Sarah McFarlane at [e-mail] and Christopher M. Matthews at [e-mail](END) Dow Jones Newswires

[borg45] 09/4/2020 19:05

What with £19 billion in the bank get real

[alphorn] 09/4/2020 18:15

Where - nothing on the BP website.

[waldron] 09/4/2020 17:41

Brent Crude Oil NYMEX 33.48 +1.95%
Gasoline NYMEX 0.71 +4.87%
Natural Gas NYMEX 1.85 -2.43%
WTI 25.665 USD -2.60%


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Ftse Mib


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Royal Dutch Shell A
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Royal Dutch Shell B
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[amaretto1] 09/4/2020 17:34

Divi suspend !