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?

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

Not in the kosher team then

cynic - 22 Jun 2010 16:37 - 168 of 176
ADRs $29.80 at london close

Wrong
Last Trade: 29.66 $

ah, many thanks... confess i did not check until 1637 uk time, at which point it was $29.80

closed $29.73 so pretty much flat .... however, with dow dumping 140+ points, not pretty for london tomorrow even if gold a bit stronger and oil steady to lower

My thoughts also