Bp Share Discussion Threads

[johnwise] 04/8/2023 19:41

Video: Mark Levin sussed the government scam

The truth about global warming

[younasm] 04/8/2023 19:15

Unfortunately, there is plenty of oversupply in the oil markets : Libya / Iraq / Iran can easily flood the market.Will be interesting if producers can manipulate the supply side. I am positive on BP share price - we should maintain 480-520 range in Q4.Good luck

[veryniceperson] 04/8/2023 10:02

He's just trying to keep everybody happy. Sound bites. He has said about renewables. If they are not profitable enough, he won't go through with the projects. We'll see.

[optomistic] 04/8/2023 09:35

Sold mine @ 493 on the last spike, I'm often wrong but I do think too much attention is going into the renewables. BP is an Oil & Gas company, perhaps that should not be forgotten by Mr Looney.

[veryniceperson] 04/8/2023 09:08

A nice rise this morning so far. Opec extension of a million barrels cut for another month.

[ariane] 04/8/2023 06:14

Oil majors including BP, Eni to resume operations in Libya

Fri, 04th Aug 2023 05:54
Alliance News

(Alliance News) - Three major international oil companies have announced a resumption of their operations in Libya after a 10-year absence, the Libyan National Oil Company said on Thursday.

The NOC said in a press release it "received official notifications from the Italian company [Eni Spa] and the British company [BP PLC] regarding the lifting of force majeure and the resumption of exploration and contractual obligations in the blocks awarded to them in the Ghadames Basin (A-B) and offshore Block C".

It said it had also been notified by Algeria's Sonatrach that "exploration and fulfilment of contractual obligations in blocks 065 and 96/95 in the Ghadames Basin" had resumed.

The Ghadames Basin is in southwest Libya in an area rich in oil and gas on the border with Algeria and Tunisia.

In December, the NOC called on foreign companies with which it had hydrocarbon exploration and production agreements to lift the force majeure they had invoked, arguing that the security situation had improved.

Force majeure is a measure invoked in exceptional circumstances, allowing exemption from liability in the event of non-compliance with contractual obligations.

Crude oil is the main revenue source for Libya, which has been torn by more than a decade of stop-start conflict, involving foreign powers and a myriad of militias, since a Nato-backed revolt toppled strongman Moamer Kadhafi in 2011.

Over the past decade, Libya has been regularly plagued by clashes between rival factions from the east and the west, badly affecting oil and gas operations.

The country sits on Africa's biggest oil reserves but the wedge between the eastern government and a United Nations-recognised administration in Tripoli has hampered Libya's efforts to sharply ramp up output in response to a surge in European demand for non-Russian oil and gas.

Production has recovered in recent months to reach 1.2 million barrels per day, most of which is for export.

source: AFP

[scruff1] 03/8/2023 08:08

No chance - they ransack other people's

[hellscream] 03/8/2023 05:48

bout time the greens put there hands in there pockets for a change.

[pj84] 02/8/2023 19:12

We won’t invest in green energy for the sake of it, says BP boss

Investment needed in both fossil fuels and renewable power, warns Bernard Looney

By Matt Oliver
1 August 2023 • 7:39pm

The boss of BP has warned that the oil giant will not invest in green energy schemes unless they are profitable enough, as rising costs make a string of offshore wind farms unviable.

On Tuesday the blue chip company became the latest producer to reveal a drop in profits, with oil and gas prices down from the highs they reached following the outbreak of the Ukraine war.

In the wake of the crisis, Bernard Looney, BP’s chief executive, said investment was needed in both fossil fuels and renewable power to boost global energy security.

But he also warned that green energy schemes had to pay their own way, as oil companies face pressure from investors to focus on fossil fuel production rather than less profitable wind and solar farms.

It comes as a string of offshore wind farms face being delayed or shelved, as rising costs wreck the business cases for investing in them.

BP already scaled back its green targets earlier this year after making record profits of $27.7bn (£21.7bn) in 2022 off the back of soaring oil and gas prices.

At the same time, Mr Looney warned inflation had “clearly impacted offshore wind projects”.

But he said: “What I can tell you categorically is that our returns threshold is sacrosanct – we will not develop projects that don’t meet our returns threshold.”

He said the company would only invest in offshore wind where it could directly benefit from the power generated, adding: “We don’t want to generate electrons just for electrons’ sake.”
….

[planit2] 01/8/2023 12:37

Wind and renewables are a brave choice with the cost of capital rising so much. Everyone wants into that sector so I don't see how any money will be made.

[marktime1231] 01/8/2023 11:58

There you go. Terrible results, a huge miss, so bad it was negative surplus cashflow! Sharply rising debt despite depressed capex, so not performing while not transforming. Raiding the kitty to fund an expected dividend rise and another smaller buyback.

Called this right then. Except the share price has firmed. Walks away whistling.

[waldron] 01/8/2023 11:43

Oil major BP posts 70% drop in second-quarter profit, raises dividend by 10%



Published Tue, Aug 1 2023
2:05 AM EDTUpdated 3 Hours Ago

Sam Meredith
@smeredith19

Key Points

Oil major BP on Tuesday reported a nearly 70% year-on-year drop in second-quarter profits on the back of weaker fossil fuel prices, echoing a trend observed across the energy industry.

The British energy major posted second-quarter underlying replacement cost profit, used as a proxy for net profit, of $2.6 billion.

Analysts had expected BP to report second-quarter profit of $3.5 billion, according to estimates collated by Refinitiv.

[faz] 01/8/2023 08:51

Quite, but the share buy back may help stablise the market price. Looks good value to me

[meb123] 01/8/2023 08:17

Boost even

[meb123] 01/8/2023 08:17

Seems like that's the way to go for BP . Aim for lower profits to boos the share price .

[tuftymatt] 01/8/2023 07:48

Yeah so far off of the estimate is a bit of a worry but the divi increase is a plus and I will add further at below 470 if it goes there.

Good luck all 👍🏻

[russ1983] 01/8/2023 07:28

Great update on the dividend but profits awful and nearly a billion below estimates, so so will fall yet again

[goldpiguk] 01/8/2023 07:08

Hi all,

BP Q2. dvidend increased by 10% to 7.27 cents, expected to be paid on 22nd September to those on the register on 11th August.

Share buyback of $1.5 bn announced.

Goldpig

[adg] 30/7/2023 10:12

I wonder if BP’s trading arm will bolster what will likely be otherwise flat results?

[meb123] 28/7/2023 14:40

Perhaps one positive in that if BPs results are below expectations, won't fall as much

[meb123] 28/7/2023 14:39

Oops looks like Exxons results at 2.30 tanked BP

[johnwise] 27/7/2023 13:35

VIDEO:

How Fossil Fuels are Greening the Planet

[johnwise] 27/7/2023 13:34

VIDEO:

How Fossil Fuels are Greening the Planet

[marktime1231] 27/7/2023 13:31

Done, out of BP having been a holder forever. Rolled over in to UKW which is more rewarding and has a great outlook.