BP. Russian Deal. Timing is everything

[MarillionFan]

BP shares expected to soar today after an historic deal with Russian state owned energy company Rosneft.

With the drop to £3 earlier in the year it has been a slow build back up to £5 recently where rumours of a possible takeover by Shell pushed it up.

Reputation is shattered in the US and so this deal coupled with rumours of a dividend announcement in Feb the future looks good.

BP's reputation in the US is torched, so now it's Bolshoi Petroleum | Business | The Guardian

Pity at 4.29 on Friday I sold all of my BP shares.

[MrRobin]

Only up ~2% so far...

That's going to be very expensive oil... Much more than the c.$40/b average cost base at the moment.

[lukemg]

Tried to catch this knife on the way down, averaged out at £3.84/share (bottle went slightly as it freefalled to 3 notes).
Feeling a lot happier now and holding on for resumption of dividend - Feb/Mar.
These are stuck in a SIPP and I don't expect to sell anytime soon as if the dividend returns to previous levels they will be earning a healthy amount even without the capital rise.

[AtW]

Just some years ago Dudley barely got out of Russia in one piece and now he is making deals with the very people who kicked him out and robbed BP of key assets there

This won't end good for BP.

[lukemg]

Oil is pushing $100/keg at the moment, major problem for BP currently is what to do with the waterfall of cash pouring in every day....

[AtW]

Oil is pushing $100/keg at the moment

In Russia Govt gets most of money over oil price of $30 per barrel - export duty on oil is adjusted as oil prices change, that's what Putin promises BP to change - they'll get higher %-tage, but his word ain't worth much - he'll wait for BP to make massive investment first though.

[DimPrawn]

Oil is pushing $100/keg at the moment, major problem for BP currently is what to do with the waterfall of cash pouring in every day....

Reinstate the dividend please. I bought loads of BP at the rock bottom price.

Buy when there's blood on the streets, or oil on the beaches.

[lukemg]

Yep, it's nice if you can do that and it comes good, I am just about off-setting losses incurred from BT currently...
Divi is defo coming back, at a lower level than before but with room to increase over the next few years to show steady growth. Pension and income funds will add to holdings which should stabilise/steadily increase share price until the next disaster. Share was rated as a buy at £6.73 a week before the leak !
Got a decent chunk but only a small part of the farm is on this so bought and holding.

[AtW]

Share was rated as a buy at £6.73 a week before the leak !

That's just shows how rubbish those "ratings" are.

[Jog On]

That's just shows how rubbish those "ratings" are.

+1