Bp Share Discussion Threads

[marktime1231] 16/11/2021 23:10

Wow. So the US has been compensating for weak supply by releasing reserves. Has domestic US production risen enough to meet demand ... if not (yet) then we are in for $90 or $100 Brent as you say. And around the world we hear how demand for natural gas is causing record prices.

During 2020 there were many stories suggesting China was stockpiling a huge strategic reserve, I wonder if that too has been depleted.

Prices rising seems a more likely scenario through the winter than those desperate sounding commentaries saying the tide has turned. How do we ease the squeeze unless we do business with difficult producer nations Russia, Iran, Libya

Fingers crossed BP is stood to benefit and not muck things up trading and hedging.

[gwatson56] 16/11/2021 22:47

Thousand Barrels

30/10/20 - 60,931
29/01/21 - 48,702
30/04/21 - 46,326
30/07/21 - 34,900
29/10/21 - 26,416

These are the number of barrels held in the US Strategic Reserve at Cushing

New number out tomorrow (reported weekly). I read that there needs to be a certain amount in the reserve for normal operation ( circa 20,000 is mentioned by analysts )
Looks like Biden might not have as much of an option if he is to release oil. Perhaps gasoline though API just reported a 2.792 Million Barrel draw week end 12/11 alone. The only thing that has been mentioned is the blend of gasoline is changed for a limited time to increase throughput to the market. Looks like the US are in a bit of a corner on this one. I would expect POO (brent) to breach $90 within weeks.

[spacecake] 16/11/2021 10:48

Hellscream, fed up with the UK then there's plenty of counties around the world without any welfare support, health systems, social security or pensions. Go tough it out somewhere else, just find an uninhabited island off Scotland somewhere, repair a croft and live off the land or become a hermit.

[hazl] 16/11/2021 08:06

A good start.

[hellscream] 16/11/2021 05:56

end all levels of welfare and lets see these people cope on there own money, fed up of this baby nation.

[dovey21] 15/11/2021 14:57

You could have a point. The tobacco companies were regulated to put 10% of profits in to alternatives studies/development. They gave that department the cash and left them to it..

[spacecake] 15/11/2021 12:36

I'm beginning to think the whole of BP's energy transition plans are simply a cover story to keep on keeping on with oil.

The oil & gas companies sector is full of climate change deniers.

[marktime1231] 15/11/2021 11:58

Shell moving fully to the UK because the green lobby is less likely to hassle them through the courts? The active trader community seeing this as an early step towards reorganising Shell along the lines sought by Third Point?

How amusing that Shell claimed, in response to Third Point, that they could not unpick the complex of integrated businesses even if they wanted to. How then could you ever hope to produce a coherent set of accounts or audit them? More likely was the explanation in the wave of pr linking Shell's ability to transition with its cash flow from fossil fuels, a much safer and more credible argument.

I remain excited by the arrival to BP next March of Dotzenrath someone with impressive green strategy background and perhaps a candidate for the next CEO. Looney's apparent u-turn on investing in North Sea fossil fuel assets might not have passed the boardroom door with her in the room, maybe he is getting some dirty decisions out of the way. Not that a bit of oil makes much difference, when COP26 has decided we have got until 2070 to "phase down" coal.

The big surprise for me is that despite inviting the wrong sort of attention BP and other dirty companies have not suffered a barrage of negative pr, all the flack has been aimed at politicians. Maybe when the dust has settled we are due a Panorama or Dispatches expose of dirty companies saying one thing while doing another. Looney's recent twist-and-turn and the language used by the new CFO is suspect. Seriously doubting how highly BP ranks the green agenda versus gorging on the cash flow from oil and gas.

Maybe Third Point are right, separate the green from the ugly parts so at least we can know and decide what sort of future we are investing in.

[daler1966] 15/11/2021 10:36

I pay over 152p litre for diesel in Devon

[mike24] 15/11/2021 09:29

long, because this zero net omissions will take to long to implement
India's target of 2070 is setting a bad example
hydrogen is going to prove difficult/exspensive to manufacture in quantity
what a disaster nuclear- Hinkly Point C is
natural gas/f up nearly 10%
nai

[spacecake] 14/11/2021 21:04

spawny100, the human race are a stupid lot no matter where they happen to call home.

Wet feet coming.

[hellscream] 14/11/2021 15:53

if the greens want WW3, ill tell you how to get it, FORCE russia it cant use oil or gas anymore.

[skinny] 14/11/2021 13:26

A realistic take on Nicola Sturgeons recent machinations :-

[hellscream] 14/11/2021 13:23

this generation lacks common and critical thinking sence.

[janhar] 14/11/2021 13:16

https://www.telegraph.co.uk/business/2021/11/13/shock-invasion-ukraine-would-trigger-economic-chaos-europe/

[spawny100] 14/11/2021 12:54

Nonsense spacecake. The Maldives are one of the lowest lying countries yet they're building airports close to sea level like there's no tomorrow.

[hellscream] 14/11/2021 12:43

and anyway why is the richest country on earth (america) increasing oil and coal production next year, shouldnt they be leading by example.

[hellscream] 14/11/2021 12:40

most poorer countrys only make money through selling oil and gas and coal, so what they do?

[spacecake] 14/11/2021 12:15

Surprise, they rowed back on "phasing out coal" and replaced it with "phasing down coal" at the request of India and China, better than nothing but I suppose.

I don't think governments have the guts to force anything, all the UK government needs to do is not open new north sea blocks for exploration and limit the number of exploration wells on existing blocks, that's not radical it's common sense behaviour.

[smith99] 13/11/2021 11:11

The government's have to force oil products to ridiculous new heights to make "green" alternatives look more attractive.