Bp Share Discussion Threads

[hellscream] 15/8/2023 06:20

wonder what price we need oil to be to hit £5? you can tell this is being held down.

[younasm] 10/8/2023 10:31

Yep, xdiv today BP doing well supported by oil price.

[veryniceperson] 10/8/2023 09:23

Is it x div today? Doing OK if is

[peterp] 10/8/2023 08:46

Probably fat finger

[apol70] 09/8/2023 18:49

I see a trade went through today at a price rate of 428p. Can anyone explain how that is possible if the share price hasn't been at that level for a very long time..... Cheers.

[younasm] 09/8/2023 15:38

I am not bullish on oil price; I think it's high enough, especially with lots of spare capacity to flood the market.$60-$80 bbl looks reasonable until interest rates peak in the New Year.

[tuftymatt] 09/8/2023 15:14

Yeah oil is on a tear right now. Can we touch 500 ahead of tomorrow morning and the 7p drop due to the divi??

That said with oil looking strong will it drop by that much??

Good luck all 👍🏻

[younasm] 09/8/2023 15:06

Decent move up before xdiv day (tomorrow )

[stemis] 08/8/2023 21:39

OK workforce, I want you all to come in whenever the wind blows, otherwise stay at home..... How can you possibly build that in to your financial model???

Wind turbines don't have a work force...and business deals with all sorts of uncertainty.

The actual answer is that the country has a variety of power sources but still needs a base source (either, gas or nuclear) that can be varied to changing input from renewable and other sources (which themselves aren't correlated). That dosn't mean we shouldn't maximise renewable sources though.

[scruff1] 08/8/2023 20:31

Yeh? How many Chinese AAA are needed to run Britains steel mill on a calm day- or a windy day? (Well India's steel mill.).
Couple of headlines today
Britains demand for power surges.
Wind power generators demand more subsidies from tax payer as development costs surge
France solves nuclear hitches as it becomes Europes largest power exporter

By the way Im invested in GSF :-(. Battery storage is not ripping up any trees.

As for 24/7 renewable - how come they cranked up the coal fired ps's and paid people to not use electricity at certain times of the day.?

Nowt like wokeyness to keep folk happy

[gateside] 08/8/2023 17:10

That's where battery storage comes into play.

[pvpower] 08/8/2023 16:55

OK workforce, I want you all to come in whenever the wind blows, otherwise stay at home..... How can you possibly build that in to your financial model???

[stemis] 08/8/2023 10:43

Seemed clear to me - wind power is intermittent and unreliable. Am I wrong?

So what? Do all factories, shops, other facilities operate 24/7? The <100% availablilty of wind turbines is built into their financial models, as it is with all facilities.

[scruff1] 08/8/2023 09:37

In fact todays chart could be indicative of a rather less than gentle breeze

[scruff1] 08/8/2023 09:36

Seemed clear to me - wind power is intermittent and unreliable. Am I wrong?

[stemis] 08/8/2023 08:52

Please inform BP
No wind = No electricity

Whilst wind = electricity, so not sure what your point is.

[johnwise] 08/8/2023 08:10

Stupidity is infinitely more fascinating that intelligence. Intelligence has its limits while stupidity has none...

Please inform BP
No wind = No electricity

BP Plans Two UK Wind Farms for Own Power Supply

BP Plc is considering building two offshore wind farms in the Irish Sea without any support from the government — marking a first for the sector where development has been hindered by rising costs.

[johnwise] 08/8/2023 08:10

Stupidity is infinitely more fascinating that intelligence. Intelligence has its limits while stupidity has none...

Please inform BP
No wind = No electricity

BP Plans Two UK Wind Farms for Own Power Supply

BP Plc is considering building two offshore wind farms in the Irish Sea without any support from the government — marking a first for the sector where development has been hindered by rising costs.

[ariane] 07/8/2023 07:34

BP planning for subsidy-free offshore wind farms
By a Daily Business reporter | August 7, 2023

BP has ambitious offshore plans

Energy giant BP is looking to build two huge subsidy-free wind farms in British waters in a move that would enhance its credentials with the green lobby and taxpayers.

Work could begin on the Morgan and Mona projects in the Irish Sea as soon as next year without contracts from the UK government to guarantee their revenues.

The wind farms together would boast up to 214 turbines about 20 miles off the coasts of north Wales and northwest England and could power 3.4 million homes.

Industry experts believe chief executive Bernard Looney’s timescale may be ambitious, given that the company has yet to apply for planning consent, which can take several years to secure.

However, he is keen to shift opinion towards the oil and gas majors who are struggling to convince the public and policymakers that they are focusing on renewable sources of energy.

Large scale wind farms in UK waters have been supported by subsidies, often by “contracts for difference” which guarantee that consumers pay a fixed price for electricity generated, topping up market prices with subsidies when required and offering revenue certainty to developers.

The BP boss told The Times: “We may not enter any [contracts for difference] auction actually, because our strategy is to use the electrons [electricity] for our own use where we can. There’s a lot of green electricity demand for us in the UK.”

BP planned to invest £1 billion in electric vehicle charging in Britain and to build green hydrogen plants on Teesside, he said.

He says the big issue has been the grid connection which he believed the company is “very close” to securing.

“I think the teams have made really, really good progress, which is what is giving us more confidence around maybe having a shorter lease period in terms of lease payments,” he said.

[johnwise] 05/8/2023 09:53

Trump says he would end ‘Green New Deal atrocities’ on first day back in White House

Former President Trump says in a new campaign video that if he returns to the White House, he would end President Biden’s “Green New Deal atrocities” on his first day, despite the measure never being signed into law.

Trump accused Biden of “waging war” on the U.S. auto industry with his “ridiculous Green New Deal crusade.”

“If Biden’s assault is not stopped, American auto production will be totally dead,” the former president said in the video released Thursday. “That’s why I am going to terminate these Green New Deal atrocities on day one.”

“I hope United Auto Workers is listening to this because I think you better endorse Trump, because I am going to grow your business, and they are destroying your business,” he said. “They are absolutely destroying your business.”

[willie99] 04/8/2023 22:01

Bernard Looney has a degree in electrical engineering. His reference to electrons speaks to his university education. Good to see the our leader recalling the language of his discipline as a professional electrical engineer.

[pj84] 04/8/2023 21:42

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.”
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