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?

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

BP:Would Be Mistake To Discourage Investment In Deep-Water Oil
BP (LSE:BP.)
Intraday Stock Chart
Today : Tuesday 22 June 2010
It would be a mistake if the regulatory response to the Gulf of Mexico oil spill created an environment in which investment in deep-water oil production becomes impossible, Bp PLC's (BP) Global Chief of Staff Steve Westwell said Tuesday.

"I don't believe it should stop all further deep-water production," he said at the World National Oil Companies Congress in London.

"Companies have been drilling in deep water in the Gulf Of Mexico for 20 years and until now have had a good safety record."

To ensure another disaster like the Deepwater Horizon accident doesn't happen again, the industry must plan better for low-probability, high-impact events and develop new capabilities for handling deep-water well blowouts, he said.

THE DRILL: Et Tu, Anadarko?
BP (LSE:BP.)
Intraday Stock Chart
Today : Tuesday 22 June 2010
By Edward Tan and John E. Morris
Of DOW JONES INVESTMENT BANKER

NEW YORK (Dow Jones Investment Banker)--Anadarko Petroleum Corp.'s (APC) accusation that Bp PLC (BP.LN) committed gross negligence or willful misconduct has consequences far beyond the division of liability between the two companies. If Anadarko eventually presses that position in court--and its survival could depend on it--other plaintiffs could piggy-back on a finding against BP, increasing its exposure and accelerating claims against it.

Anadarko's charge also signals another potential risk for BP: With the rest of the oil industry publicly questioning BP's drilling and safety practices, it may become harder for BP to find exploration and development partners.

For Anadarko, the gross negligence/willful misconduct allegation is a talisman: If it can establish that in court, it would be freed from what would otherwise be a pro rata, 25% share of any liabilities for damages from the Deepwater Horizon blow-out. If BP was more than merely negligent, under the joint venture agreement for the well, it becomes 100% liable for those actions.

The potential liability is already taking a toll on Anadarko. Its finger-pointing at BP Monday came just hours before Moody's downgraded Anadarko's debt to junk level, Ba1. Anadarko's estimated operating cash flow for 2010 is only $5 billion versus $33 billion at BP, according to CreditSights, and Anadarko has bank credit facilities of only $1.3 billion compared with BP's $10 billion (excluding funding for BP's $20 billion escrow account agreed to last week). Anadarko thus would find it much harder to bear its 25% of any liability than BP would its 65%.

When the inevitable litigation between the two companies gets under way, BP will face an adversary with a strong motivation to prove gross negligence and the wherewithal to mount an aggressive case. (BP was already planning to sue Anadarko last week, The Telegraph reports.)

That will play into the hands of smaller, less well-financed plaintiffs because, under the legal doctrine of collateral estoppel, if BP loses to Anadarko on the gross negligence issue, it could be barred from contesting the issue in other suits. Other claimants would be spared the enormous costs of discovery and expert witnesses and would only have to prove their damages.

A finding of gross negligence or worse would also void statutory limits capping regulatory fines and penalties, including the $75 million limit set under the 1990 Oil Pollution Act, according to E. Gail Suchman, an environmental attorney with Stroock & Stroock & Lavan.

Already the markets seem to be assuming that BP will shoulder more than its pro rata share of the liability. Its shares are down 49% since the explosion while the smaller, theoretically more vulnerable shares of Anadarko have slumped just 41%.

Anadarko's salvo also signals a second potential problem for BP: The rest of the oil industry appears to have genuine concerns about BP's operating prowess. In an industry long viewed as an old boys club that looked after its own, the image of oil executives queuing up to testify before the U.S. Congress that BP's conduct didn't measure up to their standards was remarkable.

If BP is seen as incompetent or congenitally careless, that could create discord in joint ventures where it acts as operating manager and could cause other oil companies to pause before partnering with BP for fear of being exposed to mismanagement.

The revelation that there are some 18 deepwater wells in the Gulf of Mexico where BP employed the "long-string design" used in Horizon only reinforces concerns that the company had a habit of cutting corners on safety. These wells could be at risk for spills unless remedial actions are taken to improve their safety and the government may choose to indefinitely suspend their operations until full safety procedures are instituted.

As more information surfaces about BP's decision-making and practices, the fallout is extending beyond the scale of its liability. The reputational damage could spread to its on-going business. It doesn't help that one of BP's partners now has a vested interest in demonstrating that it was more than incompetent.

(This column first appeared on Dow Jones Investment Banker. E-mail investmentbanker@dowjones.com to subscribe to the service or visit http://www.dowjones.com/product-investment-banker.asp to learn more.)

-By Edward Tan,Dow Jones Investment Banker; +1 (212) 416-2104; ed.tan@dowjones.com; and John E. Morris, Dow Jones Investment Banker; +1 (212) 416-2842; john.morris@dowjones.com

sp continues to weaken and weaken ..... i thought i was quite brave when i set a limit 338.2 on a small short position i had taken, but sp is now 332 and weakening still

12 month low just hit - 328.40.

BP: A Record 25,830 Barrels Total Oil Recovered On Monday
BP (LSE:BP.)
Intraday Stock Chart
Today : Tuesday 22 June 2010
HOUSTON (DOW JONES)--BP PLC (Bp BP.LN) announced Tuesday that it hit a new record in the amount of oil captured from the broken Macondo well by flaring off more oil as it works to keep it from spewing into the U.S. Gulf of Mexico.

On Monday, BP collected a total of 25,830 barrels a day, the company said on its website on Tuesday. BP flared 10,270 barrels of oil and captured 15,560 barrels of oil.

These figures beat BP's previous record achieved on Thursday, when the company collected 16,020 barrels of oil and flared 9,270 barrels of oil for a total of 25,290 barrels of oil collected.

In total, BP has recovered 298,600 barrels of oil since it put in place a containment cap and the flaring system.

At full optimization, the current operation could capture up to 28,000 barrels a day, Admiral Thad Allen of the U.S. Coast Guard, the federal commander for the response, has said.

The operation involves two ships, the Discoverer Enterprise, which has the capacity to collect and store about 18,000 barrels of oil a day, and the Q4000, which can burn off about 10,000 barrels of oil a day.

BP is under intense pressure to contain the well, which scientists estimate is producing about 35,000 to 60,000 barrels of oil a day.

On Monday, BP flared 52.2 million cubic feet of natural gas.

-By Susan Daker, Dow Jones Newswires; 713-547-9208; susan.daker@dowjones.com

Order free Annual Report for BP plc

ADRs $29.80 at london close

Why are you giving USA price we don't give a flying FCUK about those ignorent savages.

344.20 Sterling, GBP England wonga

Is that like 334.20!

Typo error on my part, Yeh give that man a cigar, I think Clinic has been smoking the weed today, and Tabby is out walking his Mrs.

because it shows what will happen at the open tomorrow in london ...... not so dumb!

Could you please give me the opening price for Tesco on Friday, or maybe the full time result of the England game Wednesday. Cynic slow down on the ganga mate.

don't be an arsehole arsehole! ...... i shall also post the closing ADR price for comparison

as for england, i don't give a hoot if they get knocked out at this pool stage .... i don't follow footy, but think this bunch of prima donnas are just that

Clinic's Trading secrets