The oil rig disaster in the Gulf of Mexico has damaged BP's reputation will they manage to avoid a share collapse to 350p.?



472p to buy this morning.

Light oil PRICE on the rise to $79.15, but ADR at $36.22, lower than at London close $36.48

News during the last hour by Kent Wells ........

The seismic monitoring gives us confidence that we do not have a significant leak in the well.

Regarding relief wells - making decision later tonight whether to disconnect site due to tropical storm.

If we do evacuate due to tropical storm, we can leave well shut in when the vessels leave during the storm.

All of our monitoring gives us confidence that we have well integrity. -Kent Wells

Well integrity test continues to go well. Pressure steadily builds and is currently at 6,863 psi.

Tony Hayward you are the weakest link total train wreck!.>

Throughout the weekend, Mr Hayward was reported to be in discussion with senior management over his severance packageI see he has his priorities in the right place..

as would we all

I know many people that could have been just as big a failureand would have done it on the cheap10mil. pension for wrecking BPs namefor costing the Company massive unknown compensation and clean-up coststhat could put them in the red ?all in a record time nice work if you can get

quite so, and jealousy gets us nowhere ...... meanwhile, i'll just bank the odd crumb of profit and be thankful for it

Whats new?

The BBC broke a story yesterday that
CEO Tony Hayward was negotiating an exit from BP
and that an announcement could come as early as the
next 24 hours, with Bob Dudley seen as the most likely
successor. If BPs board does opt for change, we
believe the appointment of Mr Dudley should be
welcomed, particularly in the US. With a proven track
record, notably the handling of the dispute over TNK-BP
in Russia and significant experience in E&P, his CV ticks
the right boxes.

Estimates for clean UP?

There are reports from the FT
that BP will take a charge of up to $30billion for Macondo
with the numbers tomorrow. While not confirmed by BP,
a statement providing a more detailed framework on the
numbers should support the shares consensus for the
clean-up costs is c. $40billion, with some estimates as
high as $70-80billion. We also argue given the progress
to date on disposals, targets will be raised.

i sold my holding during the day ..... nothing huge, but a welcome profit nevertheless

Think I will hold on with my small profit from 4.08!

$ 11 Billion loss in this quarter - Thought you all said they were still making massive profits ??? Amazed to see the price holding, only a matter of time before reality sets in and people realise there will be no more dividends for a considerable time, still heading for bancrutpcy in my book

Once the Monkey is off their back, BP will be back paying 8% divi's on current sp..imo

nordcapern - they are still making good profits- however pre tax charge of ,i believe, 26 billion is incorporated within the accounts which will be, one assumes ,a one off

Developments in the Gulf of Mexico oil spill
Wed Jul 28, 2010 9:36am EDT

LONDON (Reuters) - Here are some developments in BP Plc's Gulf of Mexico oil spill, the largest offshore oil disaster in U.S. history.

TOP DEVELOPMENTS

* BP's newly named chief executive, Bob Dudley, on Tuesday called the Gulf oil spill a "wake-up call" for the entire industry as the company tallied up its losses and disclosed two U.S. investigations.

* The top U.S. official overseeing the response to BP's Gulf of Mexico oil leak said on Tuesday he does not expect the company's commitment to cleaning up the spill to be diminished with its change in leadership.

POLITICS/POLICY

* U.S. Senate Democrats officially unveiled on Tuesday energy legislation to implement offshore drilling reforms and promote natural gas-powered vehicles that Democrats want the Senate to pass before lawmakers leave for their summer break next week.

* BP said U.S. markets regulator the Securities and Exchange Commission and the Department of Justice had launched a probe into market trading connected to the oil giant's Gulf of Mexico oil spill.

* BP and British officials have "stonewalled" attempts by the U.S. Senate to examine whether the oil giant influenced the release of the Lockerbie bomber, Senator Robert Menendez said on Tuesday.

* Attorneys hoping to lead the legal fight against BP will descend on the unlikely venue of Boise, Idaho, this week as a special judicial panel considers how to bring order to a wave of spill-related lawsuits.

* Kenneth Feinberg, lawyer extraordinaire, who acquired a solid gold reputation for fixing sticky situations for the U.S. government is facing one of his toughest challenges yet: running BP's $20 billion compensation fund.

MARKET IMPACT/COMPANIES

* BP tripled second-quarter profit from refining and marketing operations due to strong margins and record high petrochemical sales, which also may help earnings figures from other major oil companies later this week.

* Protesters from environmental group Greenpeace disabled some of BP's 50 petrol stations in central London on Tuesday in protest at the Gulf of Mexico oil spill.

* BP shares closed down 2.63 percent in London while shares in New York ended down about 1.7 percent on Tuesday.

CAPTURE/CONTAINMENT/CLEANUP

* BP Plc could start the final procedure to kill its ruptured oil well in the Gulf of Mexico late next week despite storm-related delays, the top U.S. oil spill official said on Monday.

* Hundreds of contractors and thousands of workers are swarming over the U.S. Gulf Coast, hoping to cash in on the country's worst oil spill.

(Compiled by Alyson Zepeda in Houston, editing by Vicki Allen)

Pond life is now open let's hope Obananas citizen's don't bring our stocks down.

At least with Bush he looked after the oily's and they looked after his Swiss bank account.

are you a buyer here clubby? ...... i'm on the sidelines for now though did quite nicely from it in both directions

Had it in my portfolio since SP 320

Here we go bastard septics bringing stocks down. I wish bin laden Deleted

Am long again

Pile in flem

they're really flying .... short-lived euphoria because of change of CEO or what?