It is very confusing why they would want to sell a share of kaskida & tiber, castrol which are money-makers, yet hold on to the lower profit margin businesses like gas stations, bakeries, archea, bunge bioenergy...someone please explain this. Or have we also outsourced good sense now ??
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They shouldn’t have went in full throttle with Kaskida and Tiber to start with. Trying to liquidate risk before realization that the reservoirs aren’t going to give up the oil easily.
Have they sold WL and the other USA offices yet... or are they all leased?
Petrol stations.. that chocolate company brought a couple of years ago, everything downstream in the us, and low carbons cow gas busines should be quite sellable..
The only things that they will be able to sell and raise meaningfully funds from will be good quality, low risk assets.. perhaps SD.. GOM hubs... Etc...
Very different fields. Anchor is an analogue to Kaskida.
Argos oil is also viscous. Is its performance outstanding?
It is true that Kaskida oil is viscous, but it is very similar to Chevrons project called Anchor. Anchor just started up and well performance has been “outstanding “
Meanwhile xom is planning to spend up to $30B a year investing in growing their business… while we were executing buy backs. Freaking buy backs!
You know - maybe it is for the better. Such assets, like Castrol, might end up in better hands, to the benefit of everyone. And instead of another failed strategy, the BP will get money from Sales, which could at least temporarily boost the share price.
My concern is nobody would want to partner into Kaskida and bp will be left holding the bag they committed to. We aren't good at executing projects and start-up delays. Kaskida oil is very viscous and difficult to produce.
Most of the assets mentioned that should be up for sale allow the ELT the privilege of moral grandstanding and virtue signaling to the public.
This has been by far the top priority (with no concern for the share price) ever since BL and his handlers took over.
That's typical BP strategy. Sell everything, and that solves the problem. They contend that it's better to get cash now.
bp needs to sell off part of paleogene to spread the risk. It would be id--tic to maintain 100% ownership
better to pay down debt using money that would have been squandered on buybacks. the buybacks have done absolutely nothing to help share price.
Net debt is increasing so they need money to pay it down. It's like the bank asking you for more collateral and you pawning your wife's jewellery
Trying to sell high and buy low, without the buy low part
It’s to raise capital