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?

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

so will you be shorting bp in the morning, or just letting it resolve itself?

5th UPDATE:Federal Judge Rules Against Offshore Drilling Moratorium

A federal judge in Louisiana on Tuesday ruled against the Obama administration's temporary ban on deepwater offshore drilling, dealing a blow to the administration's response to a Gulf of Mexico oil spill that continues to grow.

Judge Martin Feldman of the U.S. District Court for the Eastern District of Louisiana ordered the U.S. Department of Interior to "immediately" stop enforcing the moratorium until a full trial on its merits occurs.

The administration's decision "simply cannot justify the immeasurable effect on the plaintiffs, the local economy, the Gulf region and the critical present-day aspect of the availability of domestic energy in this country," the judge said.

Can't understand why Buys are still above the Sells, yet sp falls 2.4% - could there be a trade "after-hours" that we don't see...?

It's a small fall, but with the "Cap" reinstated, you'd think folk would be warming...?

UPDATE ON GULF OF MEXICO OIL SPILL


Two systems continue to collect oil and gas flowing from the Deepwater Horizon's failed blow-out preventer (BOP) and transport them to vessels on the surface.

The lower marine riser package (LMRP) containment cap, installed on June 3, takes oil and gas to the Discoverer Enterprise where oil is collected and gas flared. The second system, which began operations on June 16, takes oil and gas to the Q4000 vessel on the surface where both oil and gas are flared.

Oil and gas collection through the LMRP cap containment system was suspended for approximately 10 hours on June 23 following an unexpected release of seawater from the Discoverer Enterprise. Capture of oil and gas through the system connected to the Q4000 continued throughout the day.

On June 23, a total of approximately 16,830 barrels of oil were collected or flared by the two systems and 36.7 million cubic feet of gas were flared. Specifically, the LMRP containment system connected to the Discoverer Enterprise collected 8,300 barrels of oil, and the Q4000 flared an additional 8,530 barrels of oil. To date, the total volume of oil recovered or flared by the containment systems is approximately 364,500 barrels.

3 and falling...as folk hear the News that other US-controlled exploration sites are to be delayed until more "Environmental Studies" are completed...etc.

Well, that's hardly surprising, is it....?

With oil gushing (media words) all over the place, it would be v. silly to permit BP to start poking about in Alaska....when their effort is needed in the Gulf.... etc.

However, this fall (to 3, maybe 2.90 when US Exchanges open..arrgh), is the effect of many folk (er, like me), hoping it can't get any worse, etc....
Just maybe we are seeing the demise of a much-loved stock as its life-blood drains into the ocean and its reputation is forever damaged in USA.
Oh deary.......I still hold, being unable to flog the stock at this late hour....and so I'm going down with it, I guess.

Some good news like the cessation of leaks, would work equal wonders, maybe now abt a 25% increase....pure conjecture and "hope" of course, since this event is NOT certain; not being only a UK stock.

Sell sell sell.. to 100p.

BP Shares Get Fresh Hammering On Credit Concerns
BP (LSE:BP.)
Intraday Stock Chart
Today : Friday 25 June 2010
By Steve Goldstein
Of MarketWatch

LONDON (MarketWatch)--BP shares dropped as much as 9% in London on Friday, as an analyst suggested the company needs to sell stock to assure counter-parties that it has the financial health to withstand the growing cost of cleaning up the Gulf of Mexico oil spill.

As the Macondo well continues to leak oil, Nomura analyst Alastair Syme said the company's funding could be threatened.

Syme said in a note to clients that the roughly $15 billion of current liquidity looks adequate to deal with committed acquisitions, spill cleanup costs and the phased funding of the $20 billion escrow account.

"But a sharp rise in liabilities or alternatively a collapse in oil prices could leave the funding much tighter," Syme said. "Consider too that Bp has an estimated $2 billion to $2.5 billion of one-year commercial paper to roll over, needed to fund day-to-day trading activities and working capital, which will likely be much harder (and more expensive) to do in this environment."

Issuing debt is expensive, and selling off assets takes time--so the analyst suggests the company sells roughly $10 billion of equity, backed possibly by sovereign wealth funds.

In late morning London trade, BP (BP) shares slumped 7%, sending the stock to a 14-year low. Credit-default swaps on the oil giant widened sharply as well, reflecting bond market worries.

The company Friday said costs of cleaning up the spill had grown to $2.35 billion.

Besides the worries about funding and cleanup costs, jitters over the onset of hurricane season also were weighing as hurricanes and tropical storms could make it more difficult for BP to cap the spill.

Gazprom CEO: Interested In Buying BP's Stake In Shah Deniz

Today : Friday 25 June 2010
Russian natural-gas monopoly OAO Gazprom (GAZP.RS) is interested in buying U.K. energy giant Bp PLC's (BP) stake in Shah Deniz field in the Caspian Sea, if the stake is offered for sale, Gazprom's Chief Executive Alexei Miller said Friday.

BP has a 25.5% stake in Shah Deniz, which is the largest natural gas field in Azerbaijan.

BP's spokesman in Moscow declined to comment.

Miller also said Gazprom isn't interested in developing shale gas in the U.S.

Miller said Gazprom is ready to contribute an upstream asset in Russia to a joint venture with Ukraine's gas monopoly Naftogaz, should such a venture appear.

BP: Approximately 23,725 Barrels Of Oil Captured On June 24

Today : Friday 25 June 2010
BP PLC (Bp, BP.LN) captured a total of 23,725 barrels of crude oil from the broken Macondo well in the Gulf of Mexico on Thursday, about a 30% increase over the previous day, the company said in a statement Friday.

The increase in the collection rate can be attributed to the fact that BP had to shut down its operation on Wednesday because a underwater robot collided with a containment cap placed on the well. Late Wednesday, BP replaced the cap and restarted oil collection.

Of the oil captured Thursday, BP collected about 15,785 barrels and flared 7,940 barrels. It also flared about 54.7 million cubic feet of natural gas.

The collection efforts may stall again next week as if a tropical storm moves into the Gulf. On Friday morning, the National Hurricane Center said a low pressure area between Honduras and the Grand Cayman had a 70%, or high chance, of becoming a tropical cyclone in the next 48 hours.

Since the well began gushing in late April, BP has recovered a total of 388,000 barrels of oil. Federal and independent scientists estimate that about 35,000 to 60,000 barrels of oil a day are flowing from the well.

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

UPDATE: BP Says Cost Of US Spill Response Reaches $2.65 Billion
BP (LSE:BP.)

Today : Monday 28 June 2010
BP PLC (Bp.LN) said Monday spending in response to the U.S. Gulf oil spill had reached $2.65 billion, as the cost of the disaster escalates, but added it was on track to completing the relief wells, aimed at containing the leak, by around August.

The news of progress pushed shares higher Monday, which opened at 1.5%.

The U.K. oil giant said that the cost of containing, cleaning and compensating for the disaster now amounted to $2.65 billion. That puts the average daily increase at $100 million in the past three days from a bill of $2.35 billion Friday.

But BP also said the completion of two relief wells aimed at intercepting the flow of oil and gas was still expected around August.

It also said a second floating riser system and additional capacity through a new cap on the blowout preventer are expected to begin operations around mid-July.

The company said it had recovered or flared 435,600 barrels of oil since the disaster on the Deepwater Horizon rig on Apr. 20.