I’d like to mention that in USD terms Rosneft is down less than 10% over the last year. Haters like to say BP’s 20.33% stake in Rosneft is worthless. I’d dare to say that Rosneft has performed better than 90% of all stocks over a 1 year period.
Let’s see what BP gets for Rosneft. It may not take too long to come to fruition. Days ago Shell sold its over 400 Russian fuel stations to Lukoil. Granted, BP’s stake in Rosneft is orders of magnitude larger, but the Shell sale demonstrates these assets are far from worthless. GLTA.
r
Reported: bp repurchased 138,131,731 ordinary shares in London during the time frame 5/3/22 thru 5/19/22. Equivalent to 23,021,955 ADRs Approximately 0.71% of outstanding shares
r
ONGC, Bharat Petroleum, Indian Oil NSE -0.68 %, and Oil India have also held preliminary discussions among themselves to evaluate buying BP's 20% stake in Russian energy giant Rosneft, they said.
Jeff Currie, Goldman Sachs global head of commodities research, joins 'Squawk Box' to break down what's causing a spike in oil prices and lays out his market...
Jeff Currie, Goldman Sachs global head of commodities research, joins 'Squawk Box' to break down what's causing a spike in oil prices and lays out his market...
Reported: bp repurchased 129,131,731 ordinary shares in London during the time frame 5/3/22 thru 5/18/22. Equivalent to 21,521,955 ADRs Approximately 0.66% of outstanding shares
D
Big draws reported from the weekly American Petroleum Institute inventory report.
Crude: -2.445mm barrels (+1.553mm expected)
Cushing: -3.071mm - biggest draw since October 2021
Gasoline: -5.102mm - biggest draw since October 2021
Distillates: +1.075mm
D
This is the summer when the public finally recognizes the war on fossil fuel is complete lunacy. Spineless politicians and “green” activists will try to blame climate change for mass black and brown outs this summer. But a critical mass will form to say enough is enough.
BP, along with Big Oil, is transforming from being perceived as a pariah to being recognized as being a big part of the solution. It should have never come to this, but it offers a tremendous investment opportunity.
BP is on a clear path to earning $8+ in 2022. Assign a PE ratio to $8+ of earnings and you see the investment potential. GLTA.
A vast swath of North America from the Great Lakes to the West Coast is at risk of blackouts this summer as heat, drought, shuttered power plants and supply-chain woes strain the electric grid.
A vast swath of North America from the Great Lakes to the West Coast is at risk of blackouts this summer as heat, drought, shuttered power plants and supply-chain woes strain the electric grid.
www.bnnbloomberg.ca
M
Joe cancelling and shutting down oil and gas pipeline projects will push oil to $200 barrel and NG to $10. We have lost our forefather's common sense.
r
If bp tracked XOM plus bp's share buybacks, bp should trade in the mid 50's. Remember, bp's Rosneft position should exist for tax purposes.
r
BP DAILY TRADING CONDITONS REPORT...look at it ..refining margins appear to have tripled since alst q,,based on 450 million per 1$ that could mean about 9 billion yearly for refining alone
D
Brent is almost at the midpoint of the sweet spot for Brent prices in my opinion of $105–$125 per barrel. A little retracement in the price of Brent is likely, but the risk is more likely of Brent prices going well over $125 this summer. My concern with prices that high is too much demand destruction and possible damage to the overall economy.
With Brent prices at $105-$125 per barrel BP will certainly earn $8+ per share in 2022. Assign a typical PE ratio to $8+ per share earnings and you see the value and potential of BP shares. GLTA.
r
I've been holding bp for years and may never sell. Why ? I don't expect bp to become overvalued. The fantasy of controlling climate change won't happen. China, India and Russia won't sacrifice their economies for climate change.
r
Bp's 22.03% position in Rosneft valued around $13.5 billion on the MOEX continues to recover.
J
Okay honest question. I know we have exposure to Russia and took a big hit with that. But earnings was good. The company is strong. Still a good dividend. And oil prices are above $100. Why is the share price still so sluggish to move? Any insight is greatly appreciated.
r
Reported: bp repurchased 109,231,731 ordinary shares in London during the time frame 5/3/22 thru 5/16/22. Equivalent to 18,205,289 ADRs Approximately 0.56% of outstanding shares
D
I see there is one analyst who estimates BP will earn $8.21 per share this year. They are slowly coming to the conclusion I made weeks ago. It won’t take long for it to become the consensus, even if some of the analysts have to accept it kick it and screaming.
And BP shares will deserve and will get more than a trailing PE of 4. A PE range of 6-8 will be the minimum once it is fully understood. So look for BP to be priced at $48+ before the year is out, probably higher. GLTA.
G
The BP expert is wrong again. Ten days ago, he predicted that post earnings, BP would achieve a bigger jump in its share price compared to its peers. Unsurprisingly, he was WRONG again. Since the release of their respective Q1 earnings, BP has risen 5.6% while TTE has risen 9.8% -- an outperformance of 75% (!) by the latter company. I hope other BP shareholders followed my recommendation in late Feb. to buy TTE which is the most undervalued and best-positioned of all the Euro oil majors. TTE is up 14% since I purchased the stock less than 2 1/2 months ago.
r
bp's stock performance:
M
Wow! I just found a site that gives the top stocks to trade every single day for free! (http://traderspot.club)
Let’s see what BP gets for Rosneft. It may not take too long to come to fruition. Days ago Shell sold its over 400 Russian fuel stations to Lukoil. Granted, BP’s stake in Rosneft is orders of magnitude larger, but the Shell sale demonstrates these assets are far from worthless. GLTA.
during the time frame 5/3/22 thru 5/19/22.
Equivalent to 23,021,955 ADRs
Approximately 0.71% of outstanding shares
Read more at:
https://economictimes.indiatimes.com/industry/energy/oil-gas/ongc-weighs-raising-stakes-in-russian-oil-despite-shell-snub/articleshow/91651764.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
during the time frame 5/3/22 thru 5/18/22.
Equivalent to 21,521,955 ADRs
Approximately 0.66% of outstanding shares
Crude: -2.445mm barrels (+1.553mm expected)
Cushing: -3.071mm - biggest draw since October 2021
Gasoline: -5.102mm - biggest draw since October 2021
Distillates: +1.075mm
BP, along with Big Oil, is transforming from being perceived as a pariah to being recognized as being a big part of the solution. It should have never come to this, but it offers a tremendous investment opportunity.
BP is on a clear path to earning $8+ in 2022. Assign a PE ratio to $8+ of earnings and you see the investment potential. GLTA.
https://www.bnnbloomberg.ca/vast-swath-of-us-is-at-risk-of-summer-blackouts-regulator-warns-1.1767730
We have lost our forefather's common sense.
Remember, bp's Rosneft position should exist for tax purposes.
With Brent prices at $105-$125 per barrel BP will certainly earn $8+ per share in 2022. Assign a typical PE ratio to $8+ per share earnings and you see the value and potential of BP shares. GLTA.
Why ? I don't expect bp to become overvalued.
The fantasy of controlling climate change won't happen.
China, India and Russia won't sacrifice their economies for
climate change.
to recover.
during the time frame 5/3/22 thru 5/16/22.
Equivalent to 18,205,289 ADRs
Approximately 0.56% of outstanding shares
And BP shares will deserve and will get more than a trailing PE of 4. A PE range of 6-8 will be the minimum once it is fully understood. So look for BP to be priced at $48+ before the year is out, probably higher. GLTA.