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.

$ 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?

No because Obanana got his bung confirmed in his Swiss account today.

:-) nice lift.

Friday could have a good one for a change about time.

Flying cos they've been upgraded to a BUY by Gausiebank.

:-)

Would have been up more if not dragged down by the pond life.

ADRs $38.75 at london close

Get out of any short positions before next week MM's will want these trades out of the way and we all know what they can do it is called a spike to take out any stops

Ummm, Clubby. It's a SETS stock, in which about 75% of the action is usually through DMA. MMs hardly even play a bit part ....

$38.28 at london close
$38.47 at NY close