Friday 30 October 2015

BP report Q3 2015

BP, Q3, 2015, report, front page

My only oil company BP arrived with their third quarter report and well... I would lie if I would say that the report made me excited and full of hope for the future.

For the report in full please click here and to see the previous summary regarding BP report Q2 2015 or why not take a look at the latest analysis of BP 2015.

Below is the financial statement from BP. Sales have continued to drop even further looking at Q2 to Q3 and the earnings are pretty much non existing especially since there was a taxation as high as the tiny earnings that were produced in the quarter. Still it does not matter because for the full year we are still down by -3 billion USD and I do not see how this year will even become positive in the end. Maybe is they make additional divestment (which they talk of) but to divest an investment often means the loss of something down the line.

BP, Q3, 2015, financial statement

As always I look carefully at what is coming out of Russia and well... no wonder it is not as much as one would have hoped. I am still certain that it will one day create a significant boost to BP but those days are still not here.

Conclusion: BP is doing as they have done for many years now and that is bad. The turn around will take as long as the oil price remains low and that I just have to accept. I will remain as a shareholder in BP. I increased my position not that long ago and are currently happy with my holding as it is.


Anonymous said...

what do you think about Chevron and Exxon? I am shareholder of both these companies + BP.

Anonymous said...

Both are excellent companies! At some point I was thinking about buying other oil companies but the lads time that thought crossed my mind I bought some more BP instead.

To use economy terms that I hate... You have the same systemic risk with all your three companies which is probably why you bought them now on the cheap.... But you have a nonsystemic risk with each of the oil companies and looking at BP that was a large risk and cost that happened for them.

It is always good to own US companies. The american legal system, now i say my own opinion, treats american companies far different from foreign companies, and the American legal system is the toughest in the world.... So better to own american companies in "risky" businesses should probably be the conclusion.

-Fredrik von Oberhausen