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cravethatcoin

BP cheaper than after the oil spill

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Hello all,

Found the BP chart interesting. The price of BP stock is currently cheaper than it was after the crash caused by the oil spill in 2010 (shown on the left).

Is anyone looking at oil companies at the moment?

Screenshot 2020-05-23 at 11.02.50.png


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Lol just looking at some of my old trades I sold my final tranche of BP shares on the 29th of Dec. Not because I'm clever or a clairvoyant they pi--ed me off by cutting their dividend. I was glad that they did though lol, I had at the time over £30K in BP

29 Dec 2010 SELL BP. LSE 1,000 472.13p £4,709.37  

The problem with common sense is, its not that common.

 

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BP seem pretty poor financially, operating and profit margins both very low, not just now because of oil prices and low demand but for the past decade

This is a comparison of some oil companies

Maybe I'm missing something major out in the real world that's going to change that's not shown purely in the financial details but just on the face of this they don't look great, even at 25% down

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On 23/05/2020 at 20:31, Kman said:

BP seem pretty poor financially, operating and profit margins both very low, not just now because of oil prices and low demand but for the past decade

This is a comparison of some oil companies

Maybe I'm missing something major out in the real world that's going to change that's not shown purely in the financial details but just on the face of this they don't look great, even at 25% down

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In the long term oil companies are in for trouble but I think medium term there has to be a good upside from the current industry prices.

I purchased BP at around -48% YTD but I it's only 1 of 15 oil companies I have bought shares in.


Web Design Ashford - Website services from one fellow stacker to another. 11 years experience providing web design, web hosting, logo design & more.

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Just now, cravethatcoin said:

In the long term oil companies are in for trouble but I think medium term there has to be a good upside from the current industry prices.

I purchased BP at around -48% YTD but I it's only 1 of 15 oil companies I have bought shares in.

Did you look into Russian oil/gas companies

They look very interesting on the face of it unless I'm missing something major, better than the western ones 

 

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13 minutes ago, Kman said:

Did you look into Russian oil/gas companies

They look very interesting on the face of it unless I'm missing something major, better than the western ones 

 

Yes I am.

As you mentioned in that thread I found US/UK companies require a much higher oil price to be profitable so purchased some Chinese and Rusian companies for some protection. I have a keen interest in purchasing stocks from emerging countries.

 

Screenshot 2020-05-25 at 20.11.03.png

Screenshot 2020-05-25 at 20.11.09.png


Web Design Ashford - Website services from one fellow stacker to another. 11 years experience providing web design, web hosting, logo design & more.

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@Kman @cravethatcoin Here's a couple of reasons I personally would not want to own shares in any Russian businesses or foreign businesses that operate there. These couple of links concern BP & Shell, at the time 2 Goliaths of the oil world where most governments would be pleased to exploit their technological know how not give them much grief re permits etc.

I held shares in both BP & Shell at the time, the stories go like this basically if Putin's buddies the oligarchs wanted a better deal out of BP they got one. I've forgotten most of what went on but I remember BP/Bob Dudley's offices in Moscow were turned over by the police on some false charge & he got out by the skin of his teeth. Then later they gave Shell  grief over permits re the Sakhalin oil fields in the East of Russia.

Everything seems to be geared to keeping the Kremlin/Putin happy. Putin even turns on his own,a number of Oligarchs have fled Russia or the unlucky ones are in Jail.

 

https://www.businessinsider.com/how-bps-bob-dudley-got-kicked-out-of-russia-in-2008-2010-6?r=US&IR=T

https://www.industryweek.com/the-economy/article/21933007/russia-cancels-permits-for-shells-giant-sakhalin2-field

 

Edited by motorbikez

The problem with common sense is, its not that common.

 

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