Bp Share Discussion Threads

[putinaire] 28/10/2024 10:47

Im assuming the hold for yield/recovery is a dead duck to most of you now? hardly cant cut this sort of div return etc

[philanderer] 28/10/2024 10:26

Oil Plunges as Israel Limits Iran Strike to Military Targets

Attack avoided crude, nuclear and civilian infrastructure

Options markets point to collapse in geopolitical risk premium

[putinaire] 28/10/2024 10:19

At least we would all walk around full of free energy

[putinaire] 28/10/2024 10:18

Well all, Brent nearly back to the lows pre the first missile days

You need a miracle now. Maybe Putin will go all nuke

[ball deap] 28/10/2024 09:55

You bunch of peasants, I'm a Labour Party activist so you know!

[putinaire] 28/10/2024 09:55

Market was very kind to BP holders today. never thought you would get circa 400 to ponder

[putinaire] 28/10/2024 09:54

Was glorious at 5p

Now shorting 0.003p

[the ploppolator] 28/10/2024 09:29

and your syme long up at 0.8 all the way down

[putinaire] 28/10/2024 09:18

It was glorious to 70. Added at 530 haha

[the ploppolator] 28/10/2024 08:18

how is your RR short at 70p coming along loon boy putin

[putinaire] 28/10/2024 08:17

Market kind this morning. Not a bad escape price considering

[scruff1] 28/10/2024 08:13

The problem is the long term future of oil not short term issues. Itchycloss is looking like a flapper - he was the wrong choice - he has no vision which is something that BP are in desperate need of. Its worrying that he has reset the ships course towards a destination that is clearly in long term decline. Its an uncomfortable investment

[veryniceperson] 28/10/2024 08:02

It's going to be a dreadful day, possibly the week. Tin hats on!

[onehanded] 28/10/2024 07:29

Be careful of surprise results on the up side you shorters, as not so bad results would see this rise even on lower revenue. Market expects a poor set of updates but could be better than expected.

[syoung82] 28/10/2024 07:16

Yeah the stars are aligned for bp to sink faster than the bayesian super yacht this week. Poor results tomorrow and we really could get 3.50 by friday

[hellscream] 28/10/2024 06:09

gonna be a 30-40p drop this week.

better for us if all the wars end, we are getting nothing for it anyway.

[putinaire] 27/10/2024 23:24

By 2030 all that might achieve 150p

[syoung82] 27/10/2024 23:14

Oil sinking now. Risk premium evaporated. Nothing stopping oil going into the 60s and bp sinking to the low £3s. Will be many years before it gets back to £5 a share if ever. If they buy back another 5 billion shares, become debt free and raise the dividend by 50% it might have a slight chance of getting there by 2030

[putinaire] 27/10/2024 11:14

I dont see how that is such a great thing with crude expected to continue trading lower in 2025 and beyond. To save cash? Very short term approach and not a cash appeasing method to market as it will see no future returns on the cash that way.

[gibbs1] 27/10/2024 11:03

BP Walks Back Green Targets Amid Market Realities

By Irina Slav - Oct 26, 2024, 6:00 PM CDT

BP has reversed its commitment to cut oil and gas production by 40% by 2030.

The energy transition remains challenged by economic realities, prompting BP and other major oil companies to scale down transition plans.

BP's pivot, along with similar moves from other oil majors, highlights the industry’s continued reliance on hydrocarbon.


In February 2020, then-brand-new chief executive Bernard Looney told the world that one of the oldest and biggest oil companies in the world was going to become a net-zero company by 2050. To achieve this, it would slash its oil and gas production by 40% by 2030.

Four years and one major crisis later, BP is abandoning not only the original production cut target of 40%, but also a revised, lower target of 25%. BP, in other words, is returning to its roots. And commodity investors who are not paying attention should be—and so are transition investors.

“This will certainly be a challenge, but also a tremendous opportunity. It is clear to me, and to our stakeholders, that for BP to play our part and serve our purpose, we have to change. And we want to change – this is the right thing for the world and for BP,” Bernard Looney said back in 2020 when he announced the company’s new course.

There was much enthusiasm in the climate activist world when that statement was made. Activists were not satisfied but did concede that it was a step in the right direction. Investors took the news differently—BP’s shares dropped precipitously immediately following the announcement of the newly charted course before rebounding later in the year.

Then came the pandemic, decimating demand for energy and leading to a price slump that BP at the time seemed to believe the industry wasn’t going to recover from, because, it said in one of its latest world energy outlook editions, global oil demand had peaked back in 2019 and it was never going to go back to those levels. BP still believed it was on the right track with its net-zero plans and a 40% cut in oil and gas production by 2030. And then it was 2022.

Oil demand had been on the rebound ever since the lockdowns began to be phased out. When China joined the party of ending lockdowns, the demand rebound really took off. The war in Ukraine took that momentum and added to it supply security fears for a price rally that had not been seen in years.


The rally resulted in energy companies becoming the best performers in the stock market, overtaking Big Tech, and in record profits, which in turn led to fatter dividend payouts and massive stock repurchases. It also led to a reconsideration of some of Big Oil’s transition plans. In BP’s case, the latest stark reminder that the world still runs on hydrocarbons prompted the company’s senior leadership to abandon plans to cut its oil and gas production by even 25% by 2030.

All these developments also made investors think again—about energy transitions and the security of energy supply. It made investors think so much that pro-transition outlets are sounding an alarm about oil companies being unserious about the transition and, worse, unclear about the direction of their business, which should make investors cautious.

“A decarbonizing economy threatens the fossil fuel industry’s core business model, and the sector does not seem to be offering a cohesive and consistent plan for navigating this changing world,” the Institute for Energy Economics and Financial Analysis said in a recent report. The report zeroed in on the latest BP news about the U-turn on oil and gas production cuts, suggesting that BP basically had no idea what it wanted to do with its future, and this should make investors nervous about the whole oil and gas industry.

That criticism certainly has a lot of merit in the context of a business world that is firmly on the way to a cleaner, greener energy future because the economics of such a future make sense. The actual business world in which BP and all other companies are operating, however, is different from that vision.

In it, the economics of the energy transition, as envisioned by its advocates and proponents, do not always make sense—which is why BP and other companies are abandoning their initial ambitious targets made, one might say, in the heat of the moment, following years of activist pressure that was warmly embraced by politicians in decision-making positions.

However, once these companies realized their transition efforts were not paying off, they pivoted. One might call it a lack of a “cohesive and consistent plan.” On the other hand, one might call it flexibility in the face of a reality that has proven different than hoped for. In addition to the news about BP abandoning its production cut target for 2030, the company was also reported to be considering reducing its exposure to offshore wind at a time when fellow supermajor Shell was also dialing back its transition ambitions and another fellow supermajor, TotalEnergies, just announced a $10.5-billion oil and gas development in Suriname.

The energy industry then appears to have a pretty clear view of the future.

Hydrocarbons remain the energy source most widely used on the planet.

Their alternatives do not seem to be living up to the hype.

Therefore, Big Oil is shrinking its transition ambitions in favor of the business that has been proven to be profitable—for the companies and their investors.

Sometimes, it really is as simple as that.'

By Irina Slav for Oilprice.com

[putinaire] 27/10/2024 10:31

Dont fight market. Because none of us can ever beat it lol

[putinaire] 27/10/2024 10:31

I do think you wont see the cuts to yield/buyback programme until at least 290s. IF the funds intend to back it once more, its going to have to be very cheap. And they will insist on the current yield/buyback - slaughtering share price to tht point. Then let the heads announce the cuts which takes share price low 200s

If they announce it say mid 350s? Then the funds never intend to come back at all