Bp Share Discussion Threads

[ball deap] 14/6/2022 18:47

The men at the top say 120$ oil will destroy economies, imo we will hover around this level until we all get used to £2 a litre then the price will rise , hence why I say bide your time.

[waldron] 14/6/2022 17:38

Pouyanne blames policy makers for the energy crisis


Jun. 14, 2022 12:09 PM ETOIH, XLE, USO, SHEL, BP, FSLR, TTEBy: Nathan Allen, SA News Editor

"Oil and gas companies that have listened to policymakers' calls for less investment in fossil fuels is one of the reasons for current globally tight energy supplies" TotalEnergies (TTE) CEO Patrick Pouyanne said Tuesday.


Total (TTE) has committed to investing ~$3.6b per year in renewables and power through 2025, more than 3x the current investment run-rate of low-carbon leaders like First Solar (FSLR); however, unlike BP (BP) and Shell (SHEL), Total (TTE) has also committed to growing oil production (USO) through 2025.



With the White House scouring the world for energy supplies, from Venezuela to Iran and Saudi Arabia, while companies in the UK and US face policy headwinds at every turn, the statement appears well founded.


However, Mr. Pouyanne's comment may mark a shift in the industry - after reducing investment in fossil fuels for nearly a decade in hopes of winning favor with policy makers and ESG investors, energy companies may finally be preparing to increase investment in oil and gas production.


In the US, shale producers (XLE) have almost uniformly shied away from accelerating production growth in 2022, as supply chain challenges have led costs higher and production lower in the near term.

However, sustained high prices, a meager supply response from OPEC and the prospect of a failed Iran deal could result in a strategy shift from industry later this year; one that would likely benefit service providers (OIH), create a headwind to upstream free cash flow generation, and eventually balance oil markets.

[hellscream] 14/6/2022 16:37

the industry is making more money than god!

[oneillshaun] 14/6/2022 09:17

weeks/months until oil hits $150 the ride up is going to get very interesting.

[blackhorse23] 14/6/2022 08:29

RBG excellent news posted today, profit made 10 millions during this inflation

[hellscream] 14/6/2022 05:40

bail out.. LOL these shares are worth £7. how much money is BP making per day right now?

[ball deap] 13/6/2022 22:05

I told half of the fkrs on this thread to bail out , crude has got over heated for this quarter, bide your time

[waldron] 13/6/2022 15:46

BP PLC said Monday that it is selling its 50% interest in the Sunrise oil sands project in Alberta, Canada, to Cenovus Energy Inc.

The British energy major will receive 600 million Canadian dollars ($469.4 million) plus a contingent payment of up to C$600 million and Cenovus's 35% interest in the undeveloped Bay du Nord project offshore Canada.

BP said this transaction will help it create a more focused, resilient and competitive business in Canada, as Bay du Nord will provide it with a sizeable offshore acreage and a discovered resource.

Once the deal is completed, which is expected to happen this year, BP will no longer have interests in oil sands production in Canada and will shift its focus in the country to future offshore growth, it said.



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



(END) Dow Jones Newswires

June 13, 2022 06:41 ET (10:41 GMT)

[aewail] 13/6/2022 11:00

An interesting (or scary article)regarding the higher prices of oilhttps://www.rigzone.com/news/wire/oil_bulls_see_china_comeback_pushing_prices_higher-13-jun-2022-169303-article/

[dovey21] 10/6/2022 13:51

I was lucky enough to to buy in here at c. £2 and Shell at under a Tenner. I sold all in Shell around £18 and top sliced my initial stake here at around £4. I was trying to time the market here for some time and dipped in and out with my remaining shares which was reasonably successful but now I'm just leaving it. The trend is up so I'm no longer concerned with daily movements. I'll take the divis and reassess capital returns every year. Happy with the buybacks, happy with the investment in renewables and expect specials and divi increases in the coming years. I've 8K free carry shares...couldn't be more content with that. A shame I've Covid and lockdown to thank for it.

[meb123] 10/6/2022 10:43

Having said that oil has just turned positive lol

[meb123] 10/6/2022 10:33

I think short term if easing in China is retracted which appears to be the case now, this could stall for a bit .

[kasamavic] 10/6/2022 10:25

No one can predict where the market makers will take it when they want to, but they are markers where it will head to at some point.

[meb123] 10/6/2022 10:15

Not sure what that means . Will it go down further before it goes up?

[kasamavic] 10/6/2022 09:56

Now BP has taken out the gap at £4.50 from 2 years ago, will it now take out some lower ones that got it up here?

[ball deap] 09/6/2022 22:11

Guys sorry to say that I bailed out today at 14.00 , the oil market has got to heated I've ridden the hype I'm going to find some banks to invest in and will return once the price is acceptable to renter, toodle loo.

[marktime1231] 09/6/2022 20:42

Pondering what BP might do if it happens to find a way to offload Rosneft for say $10B. A B-scheme capital return of 52c with a 10% ordinary share consolidation? Or a 24c special dividend and even more buybacks/debt reduction. By 2025 at current rate we are heading for just 15-17B shares in issue and sub $20B net debt anyway, so a capital return might be justified.

Just dreaming but it is not out of the question. Someone in Asia with no qualms about buying Russian oil and gas and a post 2050 net zero target might fancy paying $10B for a 13% dividend stream, more at $120 oil price. Especially if we throw in last year's $1,300M as a sweetener. Why not.

[marktime1231] 09/6/2022 13:36

Profits are already extreme based on extraordinary prices. 3 x breakeven. 2 x the base case which Looney based his business strategy on. $60 per boe of pure surplus.

But as we all know because we have seen it all before, this oil (& gas) super cycle cannot last. Demand will shrink and/or supply will rise. The peak may still get even higher but then it will decline. And as more renewables come on stream the long term decline in oil and gas needs to be prepared for. For now using the surplus cash to drastically cut debt, and to consolidate shares in order to steadily progress the dividend. What we do not need is a gratuitous cash hand out, nor do we want to re-inflate the dividend to something which would be unsustainable (again).

To some extent the green lobby are right, diverting some of that cash in to bringing more renewables in to operation sooner would be the best for the planet. But we would be cutting our own throats, not just undermining the price of oil and gas but the returns from late-stage investment in renewables are not nearly so attractive. A balanced and long-term economics-led approach is necessary, while we still need oil and gas for at least 15 years. BP do not need to rush ahead. If governments want to change the economics then so be it. I expect BP will be announcing more major investment commitments to expand the far-horizon renewables pipeline, while keeping a lid on near-term capex.

That said, I too would like to share more in the super surplus proceeds of the current bubble. Despite the tailwind of the exchange rate and an indexing dividend the yield has dropped below 4%. An inflationary increase to 6c per quarter would be very nice.

[hazl] 09/6/2022 10:05

Good old BP.

[mike24] 09/6/2022 09:26

no losers in this sp, only those who sold out

[oneillshaun] 09/6/2022 08:51

Give it time oil will hit $170 profits will be outrageous.