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BP (BP)

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idpickering
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Re: BP (BP)

#382621

Postby idpickering » February 1st, 2021, 6:14 am

BP. agrees to sell interest to PTT Exploration and Production Public Company Limited for $2.6 ‎billion.

BP. will remain operator of Block 61, with 40% interest.

Agreement marks another significant step in BP.’s divestment programme.



Details available here;

https://www.bp.com/en/global/corporate/ ... pttep.html

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Re: BP (BP)

#382944

Postby idpickering » February 2nd, 2021, 7:08 am

Fourth quarter and full year 2020 results

Here; https://www.bp.com/en/global/corporate/ ... sults.html

dealtn
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Re: BP (BP)

#382956

Postby dealtn » February 2nd, 2021, 8:35 am

Ouch.

Always got to brace yourself when the first line contains the words "significantly impacted"!

https://www.investegate.co.uk/bp-plc--b ... 00046348N/

A smattering of "continuing pressure", "significantly weaker", "higher ... write offs", "significant ... write offs" and "depressed demand", complete what is just the first paragraph.

Not a holder but even the masochist in me was prevented from reading further. The shares are off around 3% in a rising market. There might be significant money to be made here but I think I would want the shares to be around their 200p multi year lows for me to invest the energy in doing a proper analysis, not the 250pish level they are currently at.

Dod101
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Re: BP (BP)

#382962

Postby Dod101 » February 2nd, 2021, 9:04 am

These results do not bode well for Shell's which are due on Thursday.

Dod

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Re: BP (BP)

#382964

Postby bluedonkey » February 2nd, 2021, 9:12 am

Apologies, but schadenfreude. I sold all my BP and Shell in June 2020. It was supposed to be LTBH but I blinked.

Dod101
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Re: BP (BP)

#382966

Postby Dod101 » February 2nd, 2021, 9:17 am

bluedonkey wrote:Apologies, but schadenfreude. I sold all my BP and Shell in June 2020. It was supposed to be LTBH but I blinked.


Sounds like a good call, at least for now.

Dod

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Re: BP (BP)

#382967

Postby Arborbridge » February 2nd, 2021, 9:25 am

Dod101 wrote:
bluedonkey wrote:Apologies, but schadenfreude. I sold all my BP and Shell in June 2020. It was supposed to be LTBH but I blinked.


Sounds like a good call, at least for now.

Dod


"at least for now" sounds like a trading strategy ;)

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Re: BP (BP)

#382974

Postby Dod101 » February 2nd, 2021, 9:34 am

Arborbridge wrote:
Dod101 wrote:
bluedonkey wrote:Apologies, but schadenfreude. I sold all my BP and Shell in June 2020. It was supposed to be LTBH but I blinked.


Sounds like a good call, at least for now.

Dod


"at least for now" sounds like a trading strategy ;)


Could be and why not? I doubt that either BP or Shell are going to disappear but making the transformation needed to meet current requirements is not without its costs and execution risks so some may prefer to stand to one side.

Dod

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Re: BP (BP)

#382978

Postby Arborbridge » February 2nd, 2021, 9:42 am

Dod101 wrote:
Arborbridge wrote:
Dod101 wrote:
Sounds like a good call, at least for now.

Dod


"at least for now" sounds like a trading strategy ;)


Could be and why not? I doubt that either BP or Shell are going to disappear but making the transformation needed to meet current requirements is not without its costs and execution risks so some may prefer to stand to one side.

Dod


Apologies - I so often get muddled as to which board I'm on! :oops: Thought we were HYPP (indeed, in the "old" days this thread might have been there, now HYPers get "diverted").

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Re: BP (BP)

#382979

Postby dealtn » February 2nd, 2021, 9:45 am

Arborbridge wrote:
Dod101 wrote:
Arborbridge wrote:
"at least for now" sounds like a trading strategy ;)


Could be and why not? I doubt that either BP or Shell are going to disappear but making the transformation needed to meet current requirements is not without its costs and execution risks so some may prefer to stand to one side.

Dod


Apologies - I so often get muddled as to which board I'm on! :oops: Thought we were HYPP (indeed, in the "old" days this thread might have been there, now HYPers get "diverted").


There is a thread "there" if people want to talk HYPP about it!

It is possible for non-HYPers to legitimately talk about it here (or elsewhere). There is no need, or point, in having just one thread on any company/topic.

idpickering
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Re: BP (BP)

#382980

Postby idpickering » February 2nd, 2021, 9:48 am

Dod101 wrote:
bluedonkey wrote:Apologies, but schadenfreude. I sold all my BP and Shell in June 2020. It was supposed to be LTBH but I blinked.


Sounds like a good call, at least for now.

Dod


I topped up both my holdings in these pair 4 times last year. No regrets, as I'm thinking (and was at the time), longer term than just today.

Ian.

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Re: BP (BP)

#382984

Postby scrumpyjack » February 2nd, 2021, 9:51 am

I see Mr Looney says 'We expect much better days ahead for all of us in 2021.' though it is not clear whether that comment also applies to BP's trading.

History has shown that it is very very difficult for existing large companies to move away from their traditional business and transform into something new. It has very occasionally been done, but usually they are completely beaten by nimble new entrants that don't have the 'baggage' of the old business. That comment applies to Shell as well as BP.

The best hope for BP (and Shell) IMO is that as the world transforms to clean energy the price of oil rises substantially as exploration is cut back faster than the decline in consumption. The danger is that oil companies do not cut back exploration but continue ploughing hundreds of billions into new discoveries, creating orphan assets and undermining the current oil price at the same time. Not sure BP investing another $12bn in organic capital expenditure in 2021 is a good idea?

Oil has become a very risky investment, I think. It could go either way.

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Re: BP (BP)

#382985

Postby Dod101 » February 2nd, 2021, 10:00 am

Agreed Scrumpyjack. I only hold Shell but without any enthusiasm and will not be topping up any time soon. I think that Shell, given its past record, is likely to be the better of the two but it is a bit like the discussion about Imperial v BAT, who knows?

Dod

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Re: BP (BP)

#383042

Postby Arborbridge » February 2nd, 2021, 12:14 pm

It's only companies like big oil that have the muscle to get involved in changing into new energy areas, so hopefully they will be part of the solution. I'm also sure that oil and other mineral resources are going to be needed for a very long time, and someone will be needed to supply them. Much of our modern civilisation could not function without hydro-carbons as raw material.

My investing life span at 75 is likely to be a shorter than that of big oil companies, so I am retaining my holdings.

Arb.

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Re: BP (BP)

#383060

Postby monabri » February 2nd, 2021, 1:37 pm

Arborbridge wrote:It's only companies like big oil that have the muscle to get involved in changing into new energy areas, so hopefully they will be part of the solution. I'm also sure that oil and other mineral resources are going to be needed for a very long time, and someone will be needed to supply them. Much of our modern civilisation could not function without hydro-carbons as raw material.

My investing life span at 75 is likely to be a shorter than that of big oil companies, so I am retaining my holdings.

Arb.


What he said! There's a big gap in energy requirements to be filled if oil is verboten by the Greta-ites.

https://en.m.wikipedia.org/wiki/World_e ... onsumption




;)

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Re: BP (BP)

#383086

Postby Arborbridge » February 2nd, 2021, 3:12 pm

ReallyVeryFoolish wrote:
monabri wrote:
Arborbridge wrote:It's only companies like big oil that have the muscle to get involved in changing into new energy areas, so hopefully they will be part of the solution. I'm also sure that oil and other mineral resources are going to be needed for a very long time, and someone will be needed to supply them. Much of our modern civilisation could not function without hydro-carbons as raw material.

My investing life span at 75 is likely to be a shorter than that of big oil companies, so I am retaining my holdings.

Arb.


What he said! There's a big gap in energy requirements to be filled if oil is verboten by the Greta-ites.

https://en.m.wikipedia.org/wiki/World_e ... onsumption




;)

Not only that, I smile to myself when I see Saint Greta onboard a yacht built almost entirely out of petrochemical derivatives, dressed head to toe in synthetic fibres. Made from............ The dreaded hydrocarbon. Someone should really explain it to her. I doubt she'd listen.


Oh, I think she would, and I dare say she is very well aware of the compromises and dilemmas which arise. It was an action designed to bring attentions to some serious issues, and making some sarcastic remarks about a her won't solve those issues.
It seems to me that drawing attention to dire problems makes one the target of all sorts of irrelevant views - instead of people concentrating on those problems which we have to solve.
One cannot get out of bed in the morning without committing some environmental damage, yet few people seem that bothered about the really serious situation we are in. I think Greta Thunberg also would agree that oil companies are going to be part of the solution: they are not the enemy - our consumption is.

However, the nub of the issue, as you agree, as regards investment, is that we cannot do with hydrocarbons, and frankly, it has always seemed as extraordinary waste of a valuable resource that we just burn this stuff rather than use the value compounds within.

Arb.

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Re: BP (BP)

#383091

Postby Dod101 » February 2nd, 2021, 3:26 pm

Well I am burning domestic fuel oil (aka kerosene) and the weather this winter has made me a good customer of whoever has found and refined it for me. I hope to be using it for the rest of my life. I will therefore retain my Shell holding and see what happens.

Dod

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Re: BP (BP)

#383164

Postby 88V8 » February 2nd, 2021, 7:02 pm

Arborbridge wrote:....we cannot do with hydrocarbons, and frankly, it has always seemed an extraordinary waste of a valuable resource that we just burn this stuff rather than use the value compounds within.

As a holder I am quite happy to see them writing down their assets so as to make an accounting loss.

The problem with oil and its derivatives is that we have so embedded it that we will have great difficulty weaning ourselves off. Even in our C17 cottage I am surrounded by artefacts made of the damned stuff, and I dare say there are still many who grumble at the limitations placed on single-use bags.

Now we are beginning to learn how pervasive microplastics have become. I fear that in macro terms, plastics will prove far more harmful than cigarettes ever were.
Last night we had fish for dinner... I wonder how much plastic we ate?

V8 (also holds Shell)

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Re: BP (BP)

#383194

Postby PinkDalek » February 2nd, 2021, 8:29 pm

88V8 wrote:Last night we had fish for dinner... I wonder how much plastic we ate?

V8 (also holds Shell)


Quite possibly more plastics in bottom feeding shellfish. ;)

Throwaway comment, no need for people to tell me about microplastics in the sea, air, water supply etc etc.

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Re: BP (BP)

#395679

Postby PinkDalek » March 15th, 2021, 10:34 am

Updating this for the record and fwiiw.

The four dividends for 2018 (also 2018-2019 for UK tax purposes) in sterling terms were:

Q1 - 7.4435 pence per share (10.00 cents) payable 22 June 2018
Q2 - 7.9296 pence per share (10.25 cents) payable 21 September 2018
Q3 - 8.0251 pence per share (10.25 cents) payable 21 December 2018
Q4 - 7.7382 pence per share (10.25 cents) payable 29 March 2019

Total 31.1364 pence (40.75 cents)

The four dividends for 2019 (also 2019-2020 for UK tax purposes) in sterling terms were:

Q1 - 8.0655 pence per share (10.25 cents) payable 21 June 2019
Q2 - 8.3475 pence per share (10.25 cents) payable 20 September 2019
Q3 - 7.8250 pence per share (10.25 cents) payable 20 December 2019
Q4 - 8.1588 pence per share (10.50 cents) payable 27 March 2020

Total 32.3968 pence (41.25 cents)

The four dividends for 2020 (also 2020-2021 for UK tax purposes) in sterling terms are:

Q1 - 8.3421 pence per share (10.50 cents) payable 19 June 2020
Q2 - 4.0433 pence per share (5.25 cents) payable 25 September 2020
Q3 - 3.9169 pence per share (5.25 cents) payable 18 December 2020
Q4 - 3.7684 pence per share (5.25 cents) payable 26 March 2021
https://www.londonstockexchange.com/news-article/BP./q4-2020-payment-of-dividends-in-sterling/14899945

Total 20.0707 pence (26.25 cents)

E&OE.


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