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?

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.

BP Shares Up 4% As Storm Fears Wane,But Spill Costs Grow Faster
BP (LSE:BP.)

Today : Monday 28 June 2010
BP PLC (Bp) shares rose almost 4% Monday morning as fears subsided that a tropical storm would disrupt the cleanup operation, but that good news was offset by a sharp increase in the company's daily rate of spend on Gulf of Mexico operations to $100 million.

At 0936 GMT BP shares were up 3.6%, or 11 pence, at 316 pence, leading London's FTSE 100 index. BP's market value has more than halved since the oil spill began in April.

Tropical storm Alex, which had threatened to disrupt the response to the Deepwater Horizon oil spill, was headed far to the west of the site, according to the National Hurricane Center.

Meanwhile, BP said the total cost of oil spill containment, cleanup and compensation has risen to $2.65 billion, compared with $2.35 billion Friday. BP was spending just $6 million a day when the spill began in April, but that cost has soared as the slick has spread and efforts to cap the leaking well have intensified.

BP reiterated its timetable for the drilling of two relief wells, which may be the only way to permanently halt the flow of oil from the leaking well. The wells are ahead of schedule, said a BP spokeswoman, but the company retains its estimate that they will reach their target in early to mid-August.

Allianz: Gulf Of Mexico Oil Spill Not Seen Resulting In Huge Claims


Today : Thursday 1 July 2010
Allianz SE (ALV.XE) doesn't expect substantial claims related to the oil spill in the Gulf of Mexico caused by the Deepwater Horizon oil rig that exploded in April, management board member Clement Booth told investors Thursday.

"We don't see it as a major event as far as Allianz is concerned, it's not going to turn into a huge event for Allianz," Booth said during an investor presentation.

Booth said the bulk of claims Allianz expects will be related to material damage, where current loss estimates for Allianz are below EUR10 million.

He acknowledged though that high uncertainty relates to indirect, environmental claims for the insurance industry related to the oil spill, but that it was too early to give an estimate about those.

"We have to see how that unfolds," Booth said.

Allianz already said in June that it has no involvement in the drlling rig owned by Transocean Ltd. and leased by Bp PLC. Its maximum exposure related to an insurance policy with the owners of the well is limited to about $560,000 Allianz said in June.

Watch BP go after the subbies when well is capped and things die down a bit. It will be the courts blame game for them for many years. BP will rise, they are paying out mega bucks but little mention to how much is still coming in.

as am just about to leave office and prob won't have much further access until tomorrow afternoon (if then), have banked a useful profit at 329.25 ..... doesn't offset much of today's other horrors, but very welcome nevertheless

How many blinkin' threads are there ....?

Well done mate. Think I will leave my office and go for a Short time downtown, wasting another 10

have a goody ..... i'm off to Provence for 10 days early tomorrow morning, but shall still be attached to my comfort blanket - aka laptop + blackberry! .... indeed, Beloved insists i take these with

Safe trip have a good one, missing you allready.

we'll all be round to sample a few bottles of wine, have marked the calender.,.

Hope he has took the transit van

Cynicvery nicewhat part of Provence?.
My wife insists I dont take the laptopI sneaked the iPhone and managed to have a five minute peek every hour on the hoursad really when you are already in paradisebut we always want more dont we?luck was with me this timeso she took an interestit is surprising how interested women get when the signs are about
Safe journey mate

Roussillon .... it's sort of Gordes / St Remy area .... i have laptop to stay in touch with the office as much as anything else .... thanks tabby and try not to be too much of a knobhead while i can't keep my eye on you!

markets looking very scary indeed .... glad i bit a lot of bullets this morning, so am relatively liquid ..... BP showing amazing resilience, but am happy to have banked that profit

BB / Clubby - i actually have to stop myself buying more wine; i am very lucky to have acquired a very good cellar over the years, and am now struggling to get through it all!

just as a marker - ADRs currently $29.78

Cynic very nicei need a holiday?... .....I cant guarantee the knobhead bitbut I will try Dad

Seems like new cap has developed a leak as reported on BBC this morning.

From the BBC @ 11:02

"BP said that the leak in what is known as the choke line could be repaired and that its effort to close the damaged well, and shut down the flow of oil permanently, would resume. But video streams from the seafloor showed a chaotic plume of oil and gas continuing to surge from one of the outlets on the 75-ton cap installed earlier this week.
NHIt was unclear late Wednesday whether the leak would be a momentary hitch in the much-anticipated "integrity test" on the well, or if it would put the operation in grave peril. But the plumbing failure showed once again that nothing has come easy in the long campaign to kill the Macondo well, which blew out April 20 and destroyed the Deepwater Horizon rig, killing 11 workers. "