Bp Share Discussion Threads

[marktime1231] 08/2/2024 17:57

Mulling things over and inviting folks to say what they see ahead. BRENT might dwell in the $70-90 range and that would be enough to keep BP on its current positive trajectory. If you are happy with that all good. And if it makes you any happier some of the proceeds of my divestment went on UKW in the mid 140's which in hindsight was perhaps a bit too hot.

[hellscream] 08/2/2024 17:49

well its cheaper than all the tech stocks trading at 100 p/e marktime. dotcom much?

[meb123] 08/2/2024 17:36

lol funny how to point out everything not to invest in BP but end with a positive outlook. Quite frankly you have to take a view or a guess on where oil will be by the end this year. I am hoping there won't be US recession and hoping China economy will be better in the second half . If Brent oil remains above 75 then can't see much downside. Famous last words :)

[marktime1231] 08/2/2024 14:25

Thought I would check up on you guys since divesting last Summer, which I did at roughly this share price because they backtracked on commitments to green plans and because the oil price is stuck and because BP seems to have reached a settled price level. Any chance of recouping Rosneft value seemed to have gone. So I'm trying to judge what is in the results or outlook to merit reinvestment.

The results did not excite frankly so why did the share price jump? A 5% yield does not cut it with me despite the progression. Debt reduction has stalled in favour of continuing buybacks at about $7B a year, which itself is not really moving the share price any more because there are so many wanting to divest. Restrained capex, on all things not just green ventures. Buying out Lightsource in order to attract co-investment partners presumably from infrastucture wealth funds or the likes of Equinor. What else in the outlook worth discussing?

The oil price is stuck because the US has squeezed production up to a record 13 million barrels a day at the bidding of Biden to ease domestic prices, exploiting the Permian basin while there is still a demand for oil. In the process outdoing OPEC+ ability to compensate with production caps, a little economic growth offset by demand destruction from EVs. Even hostilities in the Red Sea haven't been able to push Brent back up above $80. Have we maybe seen peak oil in terms of both production and demand?

My view is that BP remains on a positive path in the short term. And ... ?

[veryniceperson] 08/2/2024 09:16

Well, the state of the Tories Labour has at least 10 years in power and can do a lot of damage in that time! Back to BP. It's falling back gently, but I put it down to a bit of profit, taking

[meb123] 08/2/2024 08:54

Sliding even though Brent is at $79. The excitement and euphoria has obviously faded . Was hoping 470 to be the support but looks like that's going to break down . I fear it's going to be a slow grind to 500p .

[scruff1] 08/2/2024 08:41

Probably not a bad move - its only headed one way since and there is nothing so far on the horizon to instill confidence for much of a change

[action] 08/2/2024 08:34

I have sold out on result day but entered too early at 477p. May wait b4 doubting down. Looking for 450p

[younasm] 07/2/2024 11:08

Sold a few in the 482-485 since yesterday.Started buying again at 476 level. This may fall back to 440-460 range; I will keep trading these ranges.

[veryniceperson] 07/2/2024 10:49

A little profit taking this morning, methinks!

[johnwise] 07/2/2024 06:12

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[philanderer] 07/2/2024 00:25

BP’s new boss should be clearer on green strategy – fudging pleases no one

Guardian...

[richvandam] 06/2/2024 23:13

Lot of media outlets reporting dividend hike...and failing to mention it's a comparative to previous year.

[johnwise] 06/2/2024 21:43

Oil Market Needs $14 Trillion: OPEC Secretary General


The global oil market will require $14 trillion in investments over the next 20 years if oil-producing nations hope to be able to fulfill global energy demands through 2045, OPEC's Secretary General Haitham al-Ghais said on Tuesday.

According to the Secretary-General who spoke at India Energy Week in Goa, oil demand "will continue to rise and there is a need to ensure that supply is maintained."

Al-Gais added that globally, energy demand would rise between now and 2045 by 23 percent.
India's oil demand is expected to double by 2045 to 38 million bpd from its current 19 million bpd, India's Prime Minister Narendra Modi said early at the event.

"India's oil demand is expected to increase to 38 million barrels per day by 2045 from the current 19 million barrels. India is consistently growing its energy capacity. We aim to increase the share of natural gas to 15% of primary energy missfrom 6 % now. By 2030, the refining capacity will be at 450 mtpa in India," Modi said.

Al-Ghais was also vocal about oil's place among the energy sources even as far out as 2045, saying that even as many nations around the world look to triple their renewable energy capacity, no single renewable source will be able to carry the weight of the global energy demand growth.

"We need to invest (in oil) to be able to ensure the security and reliability of the supply is maintained," Ghais said. Energy ministers from oil-booming Guyana and natural gas-abundant Qatar have said that while there is a need to bring renewable energies into the oil and gas sector, phasing out conventional energy sources such as fossil fuels is still a long way away.

[wolansm] 06/2/2024 21:36

That's the way I see it.

[adg] 06/2/2024 21:24

Would it not be that some of the remaining financing is at a low fixed rate and not worth paying off?
Just like one of my mortgages - it’s at 1.14% for another 2 1/2 years so it’s the bank that is suffering on that loan

[viscount1] 06/2/2024 12:19

They have debt of 21 billion and op cash of 32 billion. I have other concerns about BP, but their debt levels are easily managed.

[veryniceperson] 06/2/2024 12:18

https://www.thisismoney.co.uk/money/markets/article-13050297/BP-profits-halve-lower-energy-prices-maintains-green-spending.html

[smurfy2001] 06/2/2024 12:14

Instead of buyback paydown the debt. That's allot of money spent on something that isn't helping the share price at all. Still a staggering amount of debt to pay down with oil prices going down.

They barely paid down any debt from a year ago!

[viscount1] 06/2/2024 11:57

Good results, but they still piling cash into low-return greenery. BP and Shell are both tough to invest in given their US competition.

[gwatson56] 06/2/2024 09:49

"Related to the fourth quarter results, bp intends to execute a $1.75 billion share buyback prior to reporting first quarter results. Furthermore, bp is committed to announcing $3.5 billion for the first half of 2024. At current market conditions and subject to maintaining a strong investment grade credit rating, bp plans share buybacks of at least $14 billion through 2025 as part of our commitment, on a point forward basis, to returning at least 80% of surplus cash flow* to shareholders."

So the 60% buyback has changed to 80% to shareholders (buyback + divi's) though in writing $14B (av $1.75B / qtr) through 2025. Sitting on my hands to see what Murray has to say..... the Q&A should allow for some future direction of the share price

Only oil trading was 'weak'.... otherwise good set of numbers all things considered imo... beats slightly the av analysts estimates.

[tuftymatt] 06/2/2024 07:57

Yeah surprised the divi didn't go up to be honest on the back of a beat.

Good to see a similar story to the likes of COP and CVX in the US so let's hope we can get a slow recovery in the share price now. Plenty of crude out there right now despite geopolitical issues but one day this year we will get back above 500.

Good luck all 👍🏻

[holts] 06/2/2024 07:56

An increase in dividend would be far more preferable .