BP dissapointed private investors as the share price slid even though a
Massive 136 percent jump in profits were recorded for the last quarter.
This was already expected and comments from Lord Browne saying falls in oil expected have brought also helped the stock down.
He says can stand oil price even below $16 pb
The hostage situation in Nigeria getting bad maybe BP putting on some weight today?
Locals want enviroment cleaned up and profits shared.
Any chance?

It has taken them so long to repeat each others 'statements' that they have run out of fecking time. No wonder why they are skint. Bunch of hot-winded time wasters.
But then, they are Americans.

Interesting switching from Bloomberg to CNBC, when Hayward was interrupted by protestor, Bloombergs commentators remarked he looked cool! CNBC reckoned he smirked! Gobshites the lot of em :o)

Heyward should be allowed to get to work stopping the spill, and not be answering questions to these pricks, with their self motives. What a farce, I see Cynics race is well represented. Ski, Sky, Cohan, Leberman, and so on. It is a legal theatre.

No Irish then ?

aldwickk

The small people were mentioned yesterday, and the yanks took offence.

Watched it for four hours. What a farce, complete waste of time.

Heyward should have just dropped his trousers and let them take turns canning him, no doubt some of the members would have got more satisfaction from this act.

2nd UPDATE: Oil Output Cut Significant If Drilling Moratoriums Spread
BP (LSE:BP.)
Intraday Stock Chart
Today : Friday 18 June 2010
Global oil output could fall up to 900,000 barrels a day from projected levels for 2015 if oil producing countries follow the U.S. lead and impose moratoriums on development of new offshore oil reserves, International Energy Agency Executive Director Nobuo Tanaka said Friday.

The Paris-based organization is conducting research on the possible impact of the U.S. moratorium and its implications worldwide, Tanaka said.

"If other countries like Angola, Brazil and the North Sea (countries) put on hold new offshore development and there is also one or two years of delay, the impact on global oil output might be 800,000 barrels a day-900,000 barrels a day by 2015," Tanaka told Dow Jones Newswires in the western Japanese city of Fukui, where he will participate in an Asia Pacific Economic Cooperation group energy ministers' meeting that starts Friday evening.

Although it would represent a mere 1% or so of global oil output, "given that spare oil production capacity is about 6 million barrels a day, (a reduction of) roughly 1 million barrels a day can't be ignored," he said.

Earlier on the day, Australia's Energy Minister Martin Ferguson vowed to act swiftly on the findings of an official investigation into the cause and handling of PTT Exploration & Production PCL's (PTTEP.TH) oil spill last year at the Montara field in the Timor Sea, off northern Australia.

Oil and gas companies began shutting down 33 deepwater exploration rigs last month after U.S. President Barack Obama imposed a six-month moratorium on developing new deepwater wells in the Gulf of Mexico.

"There is little near-term impact. But for the medium term, if new offshore oil development in the U.S. is delayed by one or two years, the impact (on production) would be 100,000 barrels a day-300,000 barrels a day by 2015," Tanaka said.

"The ultimate impact is unclear. But it would take time to investigate the causes of the spill and develop appropriate safety requirements and procedures," he said.

The Obama administration wants clear requirements in place before any more drilling proceeds, to avoid another catastrophic spill.

At the three-day APEC meeting, ministers and government officials will discuss energy security, sustainable development of energy resources and the adoption of renewable sources.

BP Russia Head: Co Doesn't Plan To Sell Rosneft Shares
BP (LSE:BP.)
Intraday Stock Chart
Today : Friday 18 June 2010
BP PLC (Bp), which intends to raise $10 billion worth by selling off assets in the wake of the Gulf oil spill, isn't planning to divest its stake in Russia's biggest oil producer, OAO Rosneft (ROSN.RS), BP's regional head told news agencies Friday.

Speaking the day after Rosneft's stock fell almost 6% on speculation of an imminent sale by BP, David Peattie said the U.K.-based energy company hasn't sold and "isn't planning to" sell its stake.

No dividend payments for three quarters not quite a full year, will still allow big funds to invest BP is on the way back up, before the end of the year Heyward will get the Plat parachute deal and go.

Moody's Downgrades BP Credit Rating; Cites Rising Spill Costs
BP (LSE:BP.)
Intraday Stock Chart
Today : Friday 18 June 2010
Ratings agency Moody's Investors Service Friday downgraded Bp PLC's (BP) credit rating three notches as costs and exposure to litigation from the Gulf of Mexico oil spill continue to mount.

It is the third major whack at BP's credit rating in recent days.

"Moody's updated assessment is that the spill will have a sustained negative impact on the group's free cash flow generation and overall financial profile for a number of years," the ratings agency said. Moody's lowered BP's senior unsecured ratings to A2 from Aa2.

Standard & Poor's Ratings Services Thursday lowered its rating on BP by two notches, its second downgrade on the oil giant this month, while Fitch Ratings downgraded BP long-term debt six notches to just above junk level Tuesday.

Moody's said its second downgrade of BP this month reflects a substantial upward revision of the estimated size of the leak, failure to bring the well under control, and the mounting costs and claims for damages.

All BP ratings remain on review for possible further downgrade, Moody's said.

Don't worry unduely about Credit-Rating Agencies - they were happy to rate Banks as Superduper all the while they were being reckless - at least with BP there seems to be situation where a part-british Company has accepted liability, this must be a World record - wow and I suspect the loss of dividend has created a knock-on in investor's minds...but the reality is that even before this spill is stopped it loooks like the detritus is far less than the American anger would lead me to believe. Once the lid is put on this, no-doubt US consumers will fill-up with BP (suitably rebranded) and continue to be the World No1 polluter.
I've not been there, but the TV footage is finding it hard to convince me....that this is a multibillion clean-up. It could be the seas will clean up this mess - nature knows best etc. The "consequential loss" looks like a bonanza for small businesses....
"Now, form an orderly queue, this is a British handout".
+Let's see what the beaches looked like before and wasn't the area suffering falling-tourism as a result of the Banking fiasco?
I hold a few and haven't sold...will BP look favourably on?

hangon you sound like the ostrich,if you bury your head in the sand take care you don't get covered in oil!

SPIEF:US Unlikely To Take Excessive Steps On Oil Spill-Statoil
BP (LSE:BP.)
Intraday Stock Chart
Today : Friday 18 June 2010
The U.S. authorities are unlikely to take "excessive and unproductive" regulatory measures, following Bp PLC's (BP) oil spill in the Gulf of Mexico, an executive from oil major Statoil Asa (STO) said Friday.

"Once the emotions have settled, I think rational measures will be taken," Peter Mellbye, head of exploration and production at Statoil, told Dow Jones Newswires.

The Norwegian energy company, which produces around 50,000 barrels of oil a day from two wells in the Gulf of Mexico, was affected by the U.S. government's six-month moratorium on drilling and had to stop work on two wells.

Mellbye believes the requirements of the U.S authorities will be adjusted to address the real risks.

"At the end of the day, the U.S. still needs oil and has ambitions to be more self-reliant, so they have to do the right thing and not take excessive and unproductive measures," said Mellbye. "Normally in these cases you find that there was a human error," he added.

USCG Adm. Allen: 25,000 B/D Of Oil Captured From Gulf Leak Thursday
BP (LSE:BP.)
Intraday Stock Chart
Today : Friday 18 June 2010
Responders at the site of the mile-deep Bp PLC (BP, BP.LN) spill in the Gulf of Mexico captured some 25,000 barrels of oil Thursday, the U.S. government-appointed leader of the response effort said Friday.

U.S. Coast Guard Adm. Thad Allen said in a news conference that he was "very pleased" to report the figure, which was higher than a previous estimate of 16,000 to 17,000 barrels a day given Thursday. The increase follows the arrival of a second vessel at the site, named the Q4000, which is flaring all the oil and gas it is producing.

Allen said that responders are on track to increasing the rate at which they capture oil from the leaking Macondo well to 53,000 barrels a day by the end of the month.

"We're going to max out at that point," he said, and responders will have to decide whether to replace the current system with more permanent floating production and offloading units that will be able to resist storms and collect up to 60,000 to 80,000 barrels a day.

The ultimate effort to kill the leak by drilling two relief wells is also progressing, Allen said. The first relief well is "starting to close in on the wellbore," Allen said, at a depth of 10,677 feet--nearly 700 feet deeper than on Thursday morning. A second back-up well was at

UPDATE: BP Says Gulf Oil Spill Response Costs Up To $2 Billion
BP (LSE:BP.)
Intraday Stock Chart
Today : Monday 21 June 2010
BP PLC (Bp) shares fell as much as 4.2% Monday morning amid continuing uncertainty about the long-term financial and environmental damages from the Gulf of Mexico oil spill.

At 0733 GMT, BP's shares were down 12 pence, or 3.2%, at 346 pence, making it the worst-performing company in the FTSE100 index.

BP Monday morning said costs for the Gulf spill response had reached $2 billion as it continues work to contain the leak and to pay claims for damages.

To date, more than 65,000 claims have been submitted and more than 32,000 payments made, totaling about $105 million, BP said.

"It is too early to quantify other potential costs and liabilities associated with the incident," the company said in a statement.

BP last week struck a deal with the White House to set up a $20 billion claims fund over 3 1/2 years. The agreement initially bouyed the company's shares, though investors are now weighing new information on the size of the spill and potential costs to respond.

U.S. Representative Ed Markey (D., Mass.) said Sunday that BP's worst-case scenario for the Deepwater Horizon oil spill estimated a potential leak of 100,000 barrels of oil a day. The well is now estimated to be leaking between 35,000 and 60,000 barrels of oil a day into the Gulf's waters.

And press reports over the weekend indicated that BP plans to raise about $50 billion to cover the cost of the Gulf of Mexico oil spill.

BP downplayed both reports.

On Monday the London-headquartered company said it was progressing with plans to capture more oil gushing from the well. Two systems are now in place and on Saturday captured 11,050 barrels of oil.

A third system remains on schedule to begin first operations around the end of June or early July.

"Plans also are being developed for further options to provide additional containment capacity and flexibility. These projects are currently anticipated to begin operations around mid-July," BP said.

By mid-July, BP hopes to be able to capture 60,000 to 80,000 barrels of oil a day, the company said in a June 13 letter to the U.S. Coast Guard.

Longer-term, BP hopes to stop the leak entirely with relief wells, though they are not expected to be completed before early August.

Heyward will go in the next month new CEO being warmed up. If you can get a bet on there is a good double Heyward & Capello to go.

2nd UPDATE: BP -5% As Spill Cost Hits $2 Billion, Anadarko Won't Pay
BP (LSE:BP.)
Intraday Stock Chart
Today : Monday 21 June 2010
BP PLC (Bp) shares fell as much as 5% Monday morning following a statement late Friday indicating its partner in the leaking Gulf of Mexico oil well, Anadarko Petroleum Corp. (APC), plans to refuse paying its shares of escalating clean-up costs.

At 1032 GMT, BP's shares were down 15 pence, or 4.3%, at 342 pence, making it the worst-performing company in the FTSE100 index.

Anadarko Chairman and Chief Executive Jim Hackett said Friday that "BP's behavior and actions likely represent gross negligence or willful misconduct," which if proven could mean its partners in the well are not liable for their share of the soaring oil spill costs.

Anadarko has a 25% stake in Macondo. Its potential liability would be a far greater burden for the medium-sized oil explorer than for BP--Anadarko's first-quarter net profit was $716 million versus $6.08 billion for BP.

Mitsui & Co. Ltd. (8031.TO) holds 10% and has yet to comment.

BP said it strongly disagreed with Anadarko's claims and expects its partners in the well to pay their full share of the costs.

BP Monday morning said costs for the Gulf spill response had reached $2 billion as it continues work to contain the leak and to pay claims for damages. To date, more than 65,000 claims have been submitted and more than 32,000 payments made, totaling about $105 million, BP said. "It is too early to quantify other potential costs and liabilities associated with the incident," the company said in a statement.

BP last week struck a deal with the White House to set up a $20 billion claims fund over 3 1/2 years. The agreement initially buoyed the company's shares, though investors are now weighing new information on the size of the spill and potential costs to respond.

BP faced fresh criticism Sunday from U.S. Representative Ed Markey (D., Mass.) who revealed the company's worst-case scenario estimate for the Deepwater Horizon oil spill was 100,000 barrels of oil a day. The well is now estimated to be leaking between 35,000 and 60,000 barrels of oil a day into the Gulf's waters.

On Monday the London-headquartered company said it was progressing with plans to capture more oil gushing from the well. Two systems are now in place and on Saturday captured or burned off just over 21,000 barrels of oil, compared with 25,000 barrels the previous day.

Pay Czar Feinberg: BP Already Has Claims Process in Place-CNBC
BP (LSE:BP.)
Intraday Stock Chart
Today : Monday 21 June 2010

Bp PLC (BP) escrow fund pay czar Ken Feinberg told CNBC Monday it's necessary to give BP some credit because they've already paid out about $100 million and have a claims process in place. Feinberg said it's much easier to build on structures in place than starting anew.

His goal in the next few weeks, he said, was to "get the program clearly articulated" so that everyone understands their choices and to build efficiency and transparency into the existing claims process.

The administrator of BP's oil-spill escrow fund said he felt BP set up the $20 billion fund voluntarily because it saw the wisdom of such an arrangement and it was a move toward limiting its liabilities.

He encouraged all those affected by the spill to file for "emergency payments" without "waivier of their rights" to sue in the future.

forgot to check at london close, but as far as i can see ADRs were then $31.10 and are now $30.86 (-2.83%)

dow suddenly down about 35 having been +140 at one point very early in proceedings ...... ftse therefore indicating -70 or so, and bp could be in for another pasting by the looks of it too - ADRs currently $30.28