Bp Share Discussion Threads

[smartie6] 27/10/2020 08:42

Sparty1, PIs will be dipping in later, just see a gradual rise imo. Will be interesting to watch. May get some of those profits that were made on boohoo.

[sparty1] 27/10/2020 08:38

what this page needs are more charts.... :)

Doomsters are disappointed this morning. Armageddon averted and I expect a decent rise independant of the oil price. Surprised it has not risen more this morning.
Debt still alarming but falling a tiny bit instead of rising. Satisfactory, and now undervalued imo.
Could see some large buys late recorded. Either way I`m holding for a bigger profit.

[smartie6] 27/10/2020 08:33

Sbb1x, starting to rise. Just feel that they will throughout the day. 203p seemed to be a good price. Will reassess later.
Check in later with you.

[scruff1] 27/10/2020 08:30

It is but if it doesnt rise by a fair amount then I think we can look forward to continuing downward trend for quite some time. Sentiment has not changed

[sbb1x] 27/10/2020 08:29

As smartie and ammu are holding, no more posts from me until after close.

[la forge] 27/10/2020 08:29

LONDON BRIEFING: BP Reports Improved Third-Quarter

Tue, 27th Oct 2020 08:17
Alliance News

(Alliance News) - Oil major BP said Tuesday its third-quarter performance showed signs of improvement despite a difficult environment brought about by the coronavirus pandemic.

For the third quarter ended September 30, BP posted a loss of USD45 million, narrowed from USD749 million last year; however its replacement cost loss widened to USD644 million from USD351 million.

Underlying replacement cost profit, the company's preferred measure, was USD100 million, compared with a loss of USD6.7 billion in the second quarter, and USD2.3 billion profit for the third quarter of 2019.

BP said that compared to the second quarter, the results benefited from the absence of significant exploration write-offs and recovering oil and gas prices and demand. This was partly offset by significantly lower oil trading result.

BP declared a third-quarter dividend of 5.25 US cents, halved from 10.25 cents in the third quarter last year.

Looking ahead, BP said the ongoing effects of the Covid-19 pandemic continue to create a volatile and challenging trading environment. There have been some early signs of global economic recovery as countries move to more regional or localised restrictions on movement and governments continue to offer monetary and fiscal policy stimulus. However, the shape and pace of the recovery is uncertain, as it depends on the further spread of the pandemic.

Chief Executive Officer Bernard Looney, in post since February, commented: "Having set out our new strategy in detail, our priority is execution and, despite a challenging environment, we are doing just that - performing while transforming. Major projects are coming online, our consumer-facing businesses are really delivering and we remain firmly focused on cost and capital discipline. Importantly, net debt continues to fall. We are firmly committed to our updated financial frame, including the dividend - the first call on our funds."

BP shares were up 1.6% early Tuesday. Peer Royal Dutch Shell reports on Thursday. Its A shares were up 0.2%.

[veryniceperson] 27/10/2020 08:28

Your a werdo, spiteful person, sick in the head.

[la forge] 27/10/2020 08:27

ATLEAST PRESENTLY ON THE UP


Price (GBX)

203.50 1.75% (3.50)

Open / Last close
206.10 / 200.00

High / Low
206.50 / 203.05

Bid / Offer
203.45 / 203.60

Special Condition: -
Trading Status: Regular Trading
FTSE 100
As at 27.10.20 08:10:09 - All data delayed at least 15 minutes

[sbb1x] 27/10/2020 08:24

100m don't even cover the dividend Brexit - no deal to be announced soon.3rd November us elections. 5th November sell off Into dividend date.Good Oil hedges coming to an endOil not rising until March.180 target

[la forge] 27/10/2020 08:23

BP PLC on Tuesday reported a narrowed underlying replacement cost profit for the third quarter of the year that beat market expectations.

The FTSE 100 oil giant made an underlying replacement cost profit of $86 million for the three months ended Sept. 30 compared with the company-compiled market consensus of a $120 million loss. The metric is similar to the net profit figure that U.S. oil companies use but strips out one-off items. BP had reported a $2.25 billion underlying RC profit a year earlier.

BP's net loss for the period came in at $450 million, narrowing from a $749 million loss a year earlier.

A weak oil market continued to hurt the British company in the third quarter, with average prices of $43 a barrel severely squeezing margins during the period. However, BP said that, compared with the second quarter, the company's financial performance benefited from the absence of significant exploration write-offs, and recovering oil and gas prices and demand. The upstream division swung to a $878 million underlying RC profit before interest and tax in the third quarter compared with a $8.5 billion loss in April to June.

BP's board declared a dividend of 5.25 cents a share for the period, in line with the shareholder payment reset announced this summer. It is down from 10.25 cents a year earlier.

The company reported net debt of $40.4 billion as at Sept. 30, down $500 million from the beginning of the quarter.



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



(END) Dow Jones Newswires

October 27, 2020 03:45 ET (07:45 GMT)

[crazi] 27/10/2020 08:20

I just bought a bunch at 203. share price is very low. The bounce will come...

[smartie6] 27/10/2020 08:18

Sbb1x, I’m not usually positive but imo these will rise throughout the day. Just bought £32k. Going to be embarrassing.
DYOR

[scruff1] 27/10/2020 08:14

Markets not impressed

[sbb1x] 27/10/2020 08:09

Does 100m even cover the dividend?

[jason_scrap] 27/10/2020 08:04

They turned 100m profit from a 16bn loss in one quarter... lol

[sbb1x] 27/10/2020 08:04

Put bonfire night in your diary you fools

[sbb1x] 27/10/2020 08:03

Downward trend continues from 5th November.

[la forge] 27/10/2020 08:03

BBC


BP returns to profit but pandemic weighs on demand

Published

13 minutes ago

Related Topics

Coronavirus pandemic

BPimage copyrightGetty Images

BP returned to profit in the third quarter, but the global coronavirus crisis continued to hit demand for oil.

BP said underlying replacement cost profit, its definition of net income, was $86m (£66m) from July to September.

That was down from $2.2bn a year earlier, but a big improvement on its massive second-quarter loss of $6.7bn.

Chief executive Bernard Looney said that despite a "challenging environment", the firm was "performing while transforming".

He added that despite financial pressures, BP would continue to pay a dividend to shareholders.

In February, BP said it planned sharp cuts in carbon emissions by 2050.

The company wants to be "net zero" by 2050 - that is, it wants the greenhouse gas emissions from its operations, and from the oil and gas it produces, to make no addition to the amount of greenhouse gases in the world's atmosphere by that date.

It also wants to halve the amount of carbon in its products by 2050.

BP to cut 10,000 jobs as virus hits demand for oil
BP faces hit of up to $17.5bn as it forecasts lower oil prices
BP boss plans to 'reinvent' oil giant for green era

In June, BP announced plans to cut 10,000 jobs after a slump in demand for oil due to Covid-19.

It also forecast lower oil prices for decades to come as governments speed up plans to cut carbon emissions in the wake of the coronavirus crisis.

That same month, it announced it was selling off its petrochemicals business to Ineos as part of its efforts to become a lower carbon firm.

BP said the $5bn deal remained on track and, subject to approvals, was expected to complete by the end of the year.

"Having set out our new strategy in detail, our priority is execution and, despite a challenging environment, we are doing just that - performing while transforming," Mr Looney said.

"Major projects are coming online, our consumer-facing businesses are really delivering and we remain firmly focused on cost and capital discipline.

"Importantly, net debt continues to fall. We are firmly committed to our updated financial frame, including the dividend - the first call on our funds."

[investorwil] 27/10/2020 07:58

Better results than expected, I'll take that!

[sbb1x] 27/10/2020 07:57

Downward trend continues from 5th November.

[sbb1x] 27/10/2020 07:56

BP made 100m and you think everything is rosey. Fools and there money