Bp Share Discussion Threads

[vecturaking] 07/6/2020 06:17

OPEC and Russia Agree to Extend Oil Production Cuts

this is 23 different countries who are going to cut there oil production

in my view we are going to get an oil deficit for july with DEMAND PICKING UP AROUND THE WORLD

BP will Gap up and continue to climb 425 pence is near

good luck every one

[sarkasm] 06/6/2020 16:47

Conclusion

Given that Shell doesn't know when prices or demand will come back to the levels it needs to, the company's prudent measures seem to be the right decision. Its pre-cut dividend would have likely outpaced its earnings for the rest of the year, causing even more strain on a balance sheet that had already been adding arguably too much debt. However, the dividend cut, paired with its cost-cutting measures and suspension of share buybacks, means that earnings can fall substantially and Shell will still be able to cover its new dividend.

Investing in any oil and gas stock right now is a speculative move, but Shell deserves credit for wasting no time in implementing substantial measures instead of beating around the bush or trying to save face at the expense of its long-term future.

I think Shell is one of the more attractive oil majors to buy at this time, given its pre-downturn leadership in alternative energy and free cash flow, humble yet action-oriented measures to get through the crisis, and the fact that it still yields 4% even after its dividend cut.

[superiorshares] 06/6/2020 16:20

Last one if you look at all those cuts through to 2022. It can only mean one thing for BP and any other oil major for that matter. Lower profits !. Unless of course oil rises 100 plus. Who remembers when it hit 200 dollars :-) or very near . I don't remember if it actually got there or not ?. But it was very close if it didn't.

[superiorshares] 06/6/2020 16:15

Thing is on this oil price. The West wants it back to 60 plus. I don't think the Saudis or Russia will let that happen ??. A lower price bankrupts some of their smaller competitor's.

[superiorshares] 06/6/2020 16:09

I should be a reporter I told you this about four days ago :-)

[superiorshares] 06/6/2020 14:05

If you get better than expected results . it could go through the 4 quid mark ?.. Congrats to those predicting that if it does ?..
But it would be very Temporary. Everyone on here predicting the skies will be normal next month and the world is about to be short of oil etc . I understand you saying that if you are Long BP, but who is going to soak up that ?
Don't forget folks you haven't made anything until you put it in the Bank
Regards All

[superiorshares] 06/6/2020 13:56

That was an exciting day for a lot of shares.
BP has risen well. You can ridicule my 18 month price target £2.00 and possibly a little lower ?
Not looking good you say :-)
I am sticking with it .
No need to talk about severe reductions in oil consumption, massive loss of air travel, reduced prices on asset sales, dividend worries etc etc etc .
There is a little issue all the stock marketeers are conveniently not mentioning.
CORONAVIRUS
my calculations in my wonky head
400,000 dead by Sun 7/6
500,000 by end of June
1 million by end of September
3 to 5 million by March next year
Will there be a second wave ?
NO the first one will not end.

[bigbigdave] 06/6/2020 13:44

IGSquawk
@IGSquawk
OPEC+ MEMBERS AGREE TO DEAL: DELEGATES - Bbg

[waldron] 05/6/2020 17:34

Looks like we can start referring to the Box channels,resistences and supports

THE WISH LIST


300 to 330p
330 to 360p
360 to 390p$$$$$$$$$$$WE ARE HERE$$$$$$$$$$$$$$$$$$
390 to 420p
420 to 450p
450 to 480p
480 to 510p



As already mentioned the first hurdle is surpassing the 333.50p strong resistence

Channel seems to be trending up



CUT RIGHT THRU THE 333p resistence and presently standing at 362.25p just in side the 360 to 390p BOX

[waldron] 05/6/2020 17:26

Brent Crude Oil NYMEX 42.06 +5.18%
Gasoline NYMEX 1.20 +4.53%
Natural Gas NYMEX 1.90 -0.84%
(WTI) 39.131 USD +5.25%


FTSE 100
6,484.3 +2.25%
Dow Jones
27,234.76 +3.63%
CAC 40
5,197.79 +3.71%
SBF 120
4,099.95 +3.42%
Euro STOXX 50
3,385.9 +3.85%
DAX
12,847.68 +3.36%
Ftse Mib
20,178.69 +2.77%





Eni
9.506 +6.05%


Total
38.335 +6.15%



Engie
11.69 +2.90%

Orange
11.535 +1.94%



Bp
362.25 +7.75%

Vodafone
138.96 +1.31%

Royal Dutch Shell A
1,477.2 +6.33%



Royal Dutch Shell B
1,426.6 +6.91%

TULLOW OIL (TLW) 30.39 GBX +19.13%


nice to see

to see nice

such a positive end to the week

Have a great weekend

enjoy but do be careful

[ny boy] 05/6/2020 17:10

Big boys are back in the game on the break out 58M is large!

Onwards to 400p me thinks

[grupo guitarlumber] 05/6/2020 15:43

BP Agrees Amended Terms for North Sea Assets Sale with Premier Oil -- Update
Print
Alert

-BP's North Sea assets sale to Premier Oil amended to reflect lower commodity prices

-Premier Oil says assets are cash generative even under current conditions

-Premier's largest creditor agrees to withdraw appeal against debt plan and support the acquisition



By Jaime Llinares Taboada



BP PLC has agreed to revise the terms of a sale of North Sea assets to Premier Oil PLC following the plunge in oil-and-gas prices this year.

Under the new deal Premier will pay BP $210 million upon completion with a further $115 million based on future oil-and-gas prices, instead of the one-time payment of $325 million previously agreed.

BP will also retain $300 million in interim cash flows, keeping the potential total value of the deal at $625 million as agreed in January.

The deal was also changed to reduce Premier's field abandonment expenses to $240 million from $600 million.

The changes were supported by Premier's largest creditor Asia Research Capital Management which has agreed to invest in the business. ARCM will be issued with 82.4 million Premier shares at 26.69 pence each and the money raised will part-fund the acquisition and ongoing capital investments.

ARCM will use the shares to reduce the short-selling position it had built up of 16.69% in Premier and has agreed to withdraw its appeal against the group's credit schemes.

Premier Oil said the terms were changed due to "material developments in global commodity markets". Near term WTI and Brent contracts for crude oil are down nearly 40% since 2020 began.

It added that the revised terms agreed with BP are in principle and there's no certainty any deal will take place. The assets being bought--Andrew Area and Shearwater--are immediately cash generative even at current commodity prices, Premier said.

In addition, Premier Oil said it is discussing with a subset of creditors to waive financial covenants through September 30 and to provide continued access to revolving credit facilities.

Shares of Premier Oil at 1332 GMT were up 21% at 38.44 pence. BP was up 6.1% at 356.60 pence, with energy stocks gaining on hopes of an international agreement to extend oil-production cuts.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires

June 05, 2020 10:23 ET (14:23 GMT)

[grupo guitarlumber] 05/6/2020 15:14

UBS Buy 410.00 - Unchanged

[skinny] 05/6/2020 13:43

The US/CAD figures out 12 minutes ago are the catalyst this afternoon.

Brent @$42.14.

[optomistic] 05/6/2020 13:41

Brent nudging $41...getting better for the oilers :-)

[skinny] 05/6/2020 09:31

FWIW :- UBS Buy 352.23 336.20 410.00 - Unchanged

[ny boy] 05/6/2020 08:54

Easy muny here, onwards &. upwards

[vecturaking] 05/6/2020 08:42

oil in deficit by next month CNBC reporting



Cnbc were talking about oil will be in deficit by july

That means Demand is Back in a big way in JULY

BP READY TO GAP UP TO 425 pence

just like the airlines performance last week

[waldron] 05/6/2020 08:23

DOING WELL THUS FAR



347p approx