Very pleasing 👍 is heading in the right direction and does what it should do our bp 🚀
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@Sand The management is still very confused. "Emission-free by 2050 - oh no, not at all. We're investing heavily in solar now - but we'll take it slowly, after all we've just opened up new oil wells... '' I think if BP took a clearer line (they can obviously afford it!) then investors in BP would not be so hesitant in relation to Exxon, Chevron, Shell, etc...
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•So if I've understood correctly, the zero-emissions issue has been resolved and all projects in this area are being silver-plated.
They want to concentrate on the core business of oil and gas.
As soon as I am in the black (approx. 5 euros) I will liquidate the position and increase my stake at $PETR4
They want to concentrate on the core business of oil and gas.
As soon as I am in the black (approx. 5 euros) I will liquidate the position and increase my stake at $PETR4
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•@DynasticGrind that's for sure, the management has upside potential and very questionable decisions have been made in the last few years. I have the hope that the huge ARP will pay off at some point...then we will be much higher in the share price
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@Helleone phew, I'm also thinking about reallocating at least part of it...the political risk is an issue
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@Sand BP is my largest position. I bought in 2019 - 2020 because the company was hopelessly undervalued in view of Brexit concerns and ultimately coronavirus. Sales and profits were almost unaffected by this and yet there were still major sell-offs. The change of management to Auchincloss is still a thorn in my side. Yes, I know that Auchincloss took over out of necessity, but he has made billions available in order to achieve a change of focus on his own initiative. I believe that BP would have been capable of doing this, but he promised too much and ultimately failed because of the board. If you develop new oil wells on an almost quarterly basis, or can participate in them, for example by sharing the rigs with others (in cooperation with Total and Exxon, among others), then you have to ask yourself whether you really want to stop subsidizing a profitable business for no reason at all... And to answer that with "Yes, of course!" is, to put it mildly, at least stupid.
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@Helleone Yes, at first it was a storm in a teacup... But even that is very expensive if it means that investors have to look for another port to sail into and don't simply come back after the turnaround.
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