Bp Share Discussion Threads

[slinkyj] 08/11/2020 21:27

The tide is going to turn soon people, this is the time to buy.

[slinkyj] 08/11/2020 21:20

THE Foreign Secretary today vowed that England's new national lockdown will come to an end on December 2 - but admitted 'mistakes' have been made over data used to justify restrictions.

[slinkyj] 08/11/2020 21:19

Thirty million doses of a coronavirus vaccine will enter manufacturing in Victoria today.CSL will begin producing the University of Oxford/AstraZeneca vaccine candidate.The planned release is for the first half of next year, pending the outcome of clinical trials and regulatory approval.Health Minister Greg Hunt told Ben Fordham vaccination could begin in March."[The vaccine] is going to be voluntary but we'll encourage as many people as possible."We're confident that we'll have a very high take-up amongst the Australian population."

[sbb1x] 08/11/2020 21:03

ANALYSIS: Fresh Covid-19 lockdowns are likely to reverse an already stalling recovery in oil demand, just as the U.S. and Libya pump more crude | #OOTT @JLeeEnergy https://t.co/mdplbtqdqH

[maywillow] 08/11/2020 14:40

Conclusion and Technical Analysis

European oil giants like Total, BP Plc. and Royal Dutch Shell have expressed a keen interest in renewables lately and pledged a significant CapEx for the coming decades as alternatives to oil.

Recently, BP CEO Bernard Looney presented the new "green" or "clean energy" strategy to the market. BP plans to cut its oil and gas production by 40% by 2030.

However, while the company expects to reduce its oil production to 55% from its level in 2019, natural gas production will increase from 40% to 50%.

This shift will result in a net increase in the company's oil and gas production, even if 15% of the sales in 2030 will come from "clean energy" and electricity, up from 5% in 2019.

It is the main reason why the company seems to be best suited for a long-term investment, in my opinion.

Technical Analysis

TOT forms a descending broadening wedge pattern with line resistance between $33 and $33.30 and line support below $28.

The short-term strategy is to take a 25% profit between $33 and $37 (Bullish) and accumulate again on any weakness below $30.

TOT is highly dependent on oil prices, and any action should be taken after analysis of the overall oil market.

[timmy11] 08/11/2020 13:03

hSeep have voted Biden/Harris in.Harris will be in virtual control.
The mega rich wanted them in because they wont be affect much by taxes.
the one who will suffer are the middle to lower classes. the one whoes voted counted!!!

[misca2] 08/11/2020 10:15

Oil Prices Are Only Going in One Direction

Julian Lee, Bloomberg News











(Bloomberg Opinion) -- This was supposed to be a time when things were getting closer to normal for OPEC. A recovery in oil demand after the first wave of the pandemic, coupled with a deep slump in U.S. production, was meant to leave the world needing more of its members’ crude. But it isn’t turning out like that.

Two things have conspired against the Organization of Petroleum Exporting Countries. The coronavirus outbreak is threatening to put an already stalling recovery in oil demand into reverse. At the same time, supply is rising from a variety of sources over which it has no control.

Back in June, OPEC projected that demand for crude from its members would be more than 1 million barrels a day higher than it had forecast in December — before Covid-19 even had a name. By October, it had slashed that estimate by 3.75 million barrels a day, or about as much as is pumped by the group’s second-largest member, Iraq.

The world’s failure to deal effectively with the pandemic has seen countries across Europe — from the U.K. and France to Greece — impose a fresh round of restrictions on their populations, including measures such as closing bars, restaurants and non-essential shops and limiting travel. There are concerns, too, that virus cases could spike again in the U.S. after a frenzy of election rallies and post-poll protests, prompting more stay-at-home orders and sapping oil demand there.

On Thursday, England entered a four-week lockdown. Although the restrictions aren’t as severe as those imposed in March — schools and some businesses, for example, remain open — traffic on city streets has already fallen sharply. It is unlikely to drop as far as it did during the first lockdown, as those who can travel shun public transport in favor of private cars, but the decline will still have a measurable impact on oil consumption.

Cold winter weather may help to support fuel demand, but little of that will be in the form of oil. Liquid fuel is not widely used for heating in the U.K. In Germany, where it is more common, consumers have already stocked up ahead of winter — although they may top up tanks ahead of a carbon tax that comes into effect in January. The government there imposed a partial lockdown on Monday.

Even in Asia, where economic activity and oil demand is returning more quickly to pre-pandemic levels, producers are still waiting to see the full benefit. Japan, the region’s third-biggest oil consumer behind China and India, has slashed crude imports by more than one-third since the start of 2019. Imports from the five big crude exporting countries in the Persian Gulf have fallen by almost half.

Its oil imports are likely to remain sluggish near current levels for the rest of year, because refiners have had to import contracted crude volumes despite low fuel demand. That’s resulted in a build-up of stockpiles that will take time to draw down.

The OPEC oil producers are also facing unexpected competition, both from outside the group and within it.

In the U.S., production is expected to pick up in the short term as drilling rates rise and hurricanes abate. A succession of storms crossing the Gulf of Mexico have reduced output there by more than 500,000 barrels a day on average since August 22.

What’s more, American oil exporters are making big inroads into one of OPEC’s core markets — China. In September, the Asian nation imported more crude from the U.S. than from anywhere else other than Saudi Arabia and Russia. Shipments from Iraq, the country’s third-largest supplier last year, have almost halved since May, while those from the U.S. have risen sevenfold. Purchases for the rest of the year are likely to remain subdued as private refiners have used up their 2020 import quotas.
As if that weren’t enough, OPEC member Libya, which is exempt from the group’s output restrictions, is restoring production after opening export ports that were idled by war for most of 2020. The country plans to export more than 800,000 barrels a day of crude this month — about eight times as much as it shipped in August. OPEC hasn’t yet factored that volume into its calculations. The OPEC+ alliance, which unites the 13 OPEC members and nine external allies (Mexico no longer plays a meaningful role after its refusal to accept output cuts negotiated in April), must consider its next move. The current plan is to ease output reductions on Jan. 1, adding another 1.9 million barrels a day to the market. It is increasingly clear that’s not doable without sending oil prices spiraling lower.

With members already chafing at the restrictions, the group’s next meeting at the start of December is likely to be a tense affair.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Julian Lee is an oil strategist for Bloomberg. Previously he worked as a senior analyst at the Centre for Global Energy Studies.

[steve73] 08/11/2020 05:43

Biden hates BP almost as much as Obama did with his "foot on BP's throat" comment.... I doubt a little greening around the edges will change his attitude much.

[crazi] 07/11/2020 21:58

BP is investing the most in Green out of all EU oil. Biden should be good for BP. Throw some of his $Trillions at BP projects...

[sbb1x] 07/11/2020 20:04

*OPEC source fears Iran supply return to put OPEC+ deal at risk#OOTT

[trikytree] 07/11/2020 19:32

And the FTSE and US futures are responding well to the news. Both nicely up. Throw in lots of positive vaccine chat and a brexit deal and the ftse will have a strong week.

[trikytree] 07/11/2020 19:29

Biden and tree huggers can push renewables all they want but the truth is nothing can replace oil yet or any time soon. Planes can’t fly on electric. 90% of new cars are still petrol and diesel. Solar isn’t practical in most of the world. Neither is wind and both take almost as much fossil to even build them than they ever produce. Oil is still the future and will be for decades. When/if it runs out we’re in trouble as the green alternatives are naff!!

[hector_p] 07/11/2020 19:22

President Biden, declared by the US press tonight. So what will happen to US oil stock prices , Biden has pledged billions in renewables. This could well also be negative for BP but BP is looking cheap so I'll not call that The likes of Exxon should be shorts.

[geardown107] 07/11/2020 17:59

Absolute nonsense, Nuclear energy is expensive. No sooner is the power plant built then it sells electricity at a premium to start saving for the eventual decommissioning. Solar, wind and whatever can sell cheaply.

[slinkyj] 07/11/2020 16:04

That wasn't the only large buying happening, that's why I am all in. I'm expecting news of a recovery from Covid in the coming days / weeks. Entering at this level doesn't really have much risk associated with it. The big bucks know this and what with dividend still in place it's really up up and away to look forward too, if I had 20million then hell yeh I'd put it in BP or Shell for some great growth in the next 6months plus leave it in longer for more compounding interest to boot. I've chucked loads at this now as my retirement fund. I may play the dips for some fun but in general my main holding stays put from my 222 entry

[sbb1x] 07/11/2020 14:09

#Libya's NOC says oil output surges to 1 million b/d #oott https://t.co/0g3KdCqfGa

[optomistic] 07/11/2020 10:49

"DanDanActionMan6 Nov '20 - 19:38 - 93524 of 93526
0 0 1
In trades list 2 very huge transactions 11:07 and 12:53? Both transactions around 30 million shares (60 million pounds). Even for a company the size of BP that is a sizeable chunk of shares."

Were these listed as buys or sells?

[gibbs1] 07/11/2020 07:43

Shell isn’t the only energy retailer looking to help customers make more productive use of their EV’s charging time. In August, BP Chargemaster launched a partnership with Marks & Spencer when it unveiled three 50kW rapid chargers at the company’s Maidstone store, off junction seven of the M20 in Kent.

The chargers dispense 100% renewable electricity and feature contactless payment terminals and connectors for all capable electric vehicles. They are part of BP Chargemaster’s Polar public charging network and are accessible with a Polar Plus membership RFID card or the Polar Instant PAYG app. The new service is the first of a five-store trial.

Matteo de Renzi, CEO of BP Chargemaster, said: “As well as serving existing Marks & Spencer customers who already or will soon drive electric vehicles, we expect the rapid chargers to bring new customers to these stores, as they are in the right locations to support those driving along the strategic road network and provide a great opportunity for a brief stop.”

[gaffer73] 07/11/2020 00:27

Exactly, meaning oil will be around for a long time yet.

[quickquid] 07/11/2020 00:16

Gaffer. It's not like everyone will have an EV overnight.

Sizewell nuclear is to go ahead with EDF. BP and the likes of Shell etc are not going to have a great future.

[slinkyj] 06/11/2020 21:51

LOCKDOWN TWO Coronavirus UK news – Death forecasts that triggered lockdown were WRONG and 2nd wave deaths won't be higher

[dominiccummings] 06/11/2020 21:35

No question. buywell3 has always been the master of the bleeding obvious.

[buywell3] 06/11/2020 19:58

It should be noted imo that this time round the bounce back was very very weak