Bp Share Discussion Threads

[veryniceperson] 23/2/2024 10:34

Brent is close to $83 a barrel, buying back roughly 5 million shares a day for cancellation share price 466 so cheap. Unbelievable!

[stemis] 23/2/2024 09:54

Much as I disagree with some of Labour's policies, it's hard to see them making a bigger mess of things than the current shower...

[scruff1] 23/2/2024 09:35

Labours avowed treatment of O+G companies would certainly make a case for them at least to cancel any future investment in the UK if not to simply up sticks and leave. Possibly only the declining role of O+G companies thats stopping them.
The thought of Labour in charge of the UK in general is enough to make anyone up sticks and move to be honest especially when its three intended policies so far promised are effectively ban O+G industry, ban Private education and ban fox hunting (which I would support) i.e. hit the successful and hit the wealthy. Weve seen it all before and we know where it will lead - same direction as the BP chart

[fhmktg] 23/2/2024 08:41

Clear Labour win in the election might lead to full listing in US for both BP and Shell?

[scruff1] 23/2/2024 08:33

Interesting summary of where we are at. Its not a very compelling case for investment. Its maybe partly the reason for the languishing sp

[johnwise] 22/2/2024 11:44

BP is bolstering its retail team with the appointment of former Marks and Spencer franchise director, David Phillpot, Retail Week has learned.

Phillpot will join BP in a newly created role of convenience trading director of Europe, where he will report to vice president for Convenience Europe, Jo Hayward.

[veryniceperson] 22/2/2024 09:41

That PJ was a good article. Thanks for posting it. I'm surprised it didn't help the share price more and just shows you how the oil and gas are out of favour. Perhaps BP and Shell should amalgamate and list in the USA. Now, that would be a super major. Just a thought.

[pj84] 20/2/2024 23:26

An excerpt from the above Questor article: -

"....

While the company’s fourth-quarter profits were ahead of market forecasts, its announcement of a $1.75bn (£1.4bn) share buyback programme, to be completed before the release of its first-quarter results, appears to have resonated with investors.

Furthermore, the company said it was committed to announcing a further $3.5bn in share buybacks for the first half of the current financial year as part of plans to return at least 80pc of surplus cash flow to shareholders. This could mean the repurchase of around $14bn of its shares in aggregate over the 2024 and 2025 financial years.

In Questor’s view, BP’s ambitious share buyback plan is entirely logical because it offers excellent value for money. The company’s shares trade at just seven times forecast earnings, which grossly undervalues their long-term prospects even when compared with a dirt-cheap London stock market.

And with net debt marginally declining to $20.9bn in the 2023 financial year, to give BP a net gearing ratio of just 25pc, it does not need to use any surplus cash to reduce leverage.

Its improving financial position also means greater stability and therefore growing appeal for income investors. Dividends rose by 10pc year-on-year in the fourth quarter and were covered a healthy 2.4 times by earnings despite the fall in profits. The company’s shares now yield 4.8pc, against 3.9pc for the FTSE 100 index.

...."

[johnwise] 20/2/2024 22:25

The Global warming SCAM Update:


Chicago Files Suit Against Big Oil

The city of Chicago has filed a suit against the five largest oil and gas companies, alleging that Big Oil has lied about oil, gas and the derived products and its effect it would have on climate change, the Chicago Sun-Times said on Tuesday.

The lawsuit, filed on Tuesday in Cook County Circuit Court, claims that destructive climate change forces hurt the city of Chicago and its citizens, and names BP, Chevron, ConocoPhillips, ExxonMobil, and Shell—Big Oil’s Big 5.

Chicago wasn’t the first to sue Big Oil. California and New York filed lawsuits in September, claiming that the lies, the subsequent coverup, and the resulting damage, have cost taxpayers billions in negative health and environmental outcomes. Chicago is merely following in the path already cleared.



Video: Mark Levin sussed the government scam
The truth about global warming


If Zero CO2 was ever achieved every tree on the planet would die
VIDEO: A Dearth of Carbon Dr. Patrick Moore

[veryniceperson] 20/2/2024 17:22

https://www.thisismoney.co.uk/money/markets/article-13097747/Oil-gas-giants-crisis-talks-Labours-windfall-tax.html

[marktime1231] 16/2/2024 20:00

Here is that original story ...



By entering a JV what bp means is that it has sold for a cash injection about half of its interests in gas fields in Egypt's Nile delta, and rights to development and exploration targets, to ADNOC. They are calling it low carbon development in accordance with COP28. At least it is not oil.

No figures given, unless ADNOC have said something separately. bp owns about 5 trillion cu ft of known reserves in the region a good portion already in production, assets worth up to $15B at a long term Henry Hub of $3. Except that Egypt is not only a major consumer of its own gas, it exports LNG to Europe where the Dutch TTF price is $5.

This is potentially a mega asset disposal deal then, $Billions to pay for further development in Egypt without adding to the constrained CapEx budget, and cash for ?? Underpins buyback / dividend plans but does it also allow some meaningful debt reduction?

Since bp trades at about a 50% discount to value this reads like a materially significant gain, in cash, t was unlikely to have already been in previous baseline plans because it is written up as a recently constructed deal following COP28 meetings. It should have been picked up with more excitement and caused a strong uptick.

[gwatson56] 16/2/2024 18:05

BP in the news

[hellscream] 15/2/2024 17:16

were gonna need oil near $90 to give this a kick.

[marktime1231] 15/2/2024 16:58

Quite, he was stubbornly wrong as BP gained 200% on his Sell. When he switched to Hold it alerted me to the chance that the share price might have peaked outwith the oil price bubble.

Nonetheless I would like to understand how BPs strategy over the next 2 years prepares it for the medium term scenario which may nor may not be the downslope immediately post-peak oil price. If you believe they will be "performing while transforming" it is possible they are doing everything right, in position for renewables and chasing down production costs to maintain oil and gas margins. In which case you could argue for Buy. Or are they underinvesting in all directions because there is no conviction, "withering while dithering" gets us to a Sell.

[adg] 15/2/2024 13:25

Alex Hamer is an utter tool - firm sell for 3 years where the share price has gone from under 200p as high as 570p
Another muppet Anal-ist

[marktime1231] 15/2/2024 10:58

In his recent IC report on BP Alex Hamer keeps a Hold verdict, having been a firm Sell throughout the previous three years. This is mostly due to the firmer commitment to buybacks through 2024 and 2025, spending $14B to take about 14% off the table at $6.

There is no real expectation that this will strongly enhance the share price, but it should embed dividend progress. Hamer, who is anti fossil fuel, observes that the buyback "enhancement" is to be achieved by capping expenditures and by shifting 80% rather than 60% of cashflow in to shareholder returns. So not much directed at debt reduction.

Is the subtext that BP is satisfying activists by exploiting its existing oil and gas reserves before we hit the downslope, with low capex on renewables and restrained e&p? Curious to know what 2025-2030 looks like. As ever it all depends on the price of oil. Or a merger for a US-listing.

[younasm] 15/2/2024 10:47

Added a few at 462.5pAnd expecting to maintain the 440-460 range for the next 4-8 weeks; resistance at 485pCan't see oil price rising much higher than WTI @$80 bbl

[philanderer] 15/2/2024 10:45

In fact it's getting hammered.

[philanderer] 15/2/2024 10:26

Down much more than the xd.

[meb123] 14/2/2024 18:53

Suppose the only consolation is that we would be a lot lower if it weren't for the profit beat and buybacks

[munin] 14/2/2024 17:45

Zaco,
If you are paying that little tax……230;you must not be paying any NI……R30;.which might be great for you……230;.but most working people do have to pay NI, which is essentially a tax……

[hellscream] 14/2/2024 16:52

dont matter where it starts, share has been dead for 3 months.

[younasm] 14/2/2024 16:31

I was expecting this to close around 485p before the ex-dividend tomorrow.I think it will start tomorrow at 470p.Good luck