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?

Delay On Senate's Spill Bill Spurs Lobbyists Into Action

Today : Thursday 5 August 2010
Energy and environmental lobbyists will jump back into action in coming weeks as they attempt once again to shape the contents of an oil-spill bill in the U.S. Senate.

After Senate Democrats decided to postpone a vote on a spill bill, saying they'd revive the issue when lawmakers returned from a summer recess in September, stakeholders now say they will redouble their efforts to change the legislation.

For groups representing the energy industry, that means pressing lawmakers to reconsider caps on liability for Bp PLC (BP, BP.LN) and other companies that cause oil spills.

For environmental groups, meanwhile, that means asking Senate members to support a cap on carbon dioxide emissions and to impose renewable electricity standards.

The success of their efforts depends largely on Senate Majority Leader Harry Reid (D., Nev.) and the handful of Democrats who are steering the oil-spill bill through the Senate. Among them are Sens. John Kerry (D., Mass.), Barbara Boxer (D., Calif.), Jeff Bingaman (D, N.M.) and Robert Menendez (D, N.J.).

These Democrats are likely to make at least some changes to the bill they unveiled in July, in large part because they don't have the necessary 60 votes to push it through the chamber in its current form. But it's unclear just how much of the legislation they'd be willing to amend.

"Clearly, the votes weren't there for the proposals that were on the table," said American Petroleum Institute President Jack Gerard. "So there will have to be some adjustments to pass the bill."

The energy industry is going to ask lawmakers to amend current proposals on liability caps. The Democrats' bill eliminates the caps altogether, but Republicans and some Democrats have said that the move would make it prohibitively expensive for small to mid-sized producers to do business.

The debate over liability caps proved to be one of the thorniest issue in the Senate bill, and Reid might have to look at alternative proposals being developed by Sens. Mary Landrieu (D, La.) and Mark Begich (D., Alaska) if he wants to recruit more support.

Energy lobbyists will also ask lawmakers to remove existing proposals that require natural gas companies to disclose the chemicals they use in a drilling process called hydraulic fracturing, Gerard said.

Environmental groups, meanwhile, want lawmakers to reconsider a cap and trade program for carbon dioxide, even if it applies to just one segment of the industries that emit carbon dioxide.

And renewable energy advocates wants Congress to impose renewable electricity standards, which would force power companies to generate a certain portion of their electricity from renewable sources, like wind and solar.

Neither proposals made it into the Democrats' current bill, but they both have supporters on Capitol Hill.

"If the stars align over the next few weeks, there's a chance we could get that enacted this year," said Tony Kriendler, a spokesman for Environmental Defense Fund. "The energy bill is still the natural vehicle."

Given the time constraints facing Senate lawmakers in the fall, Reid might have to scale back the current bill even further to attract enough support to move it through the Senate.

But if Democrats lose interest in passing the measure, or believe its success is unlikely, they could incorporate carbon caps and renewable electricity standards to please environmental groups and other members of their liberal base.

U.S., BP Near Deal on Fund

WASHINGTONThe Obama administration and BP PLC are close to a deal to use future revenues from the oil giant's Gulf of Mexico operations to guarantee its $20 billion cleanup and compensation fund, a move that would give both sides an incentive to continue production in the Gulf, scene of the U.S.'s worst-ever offshore oil spill.

The Justice Department and BP said Monday they had completed talks to establish the fund, which is designed to cover damage claims from residents and businesses hurt by the spill and clean-up efforts by state and local governments. BP paid $3 billion into the fund ahead of schedule.

It would be ironic if after all the political furore BP re- opened the well at a later date and used the oil proceeds to pay into the fund.

Being such a gusher I can't see it being abandoned.

12 o/c

BP RELEASES INVESTIGATION REPORT

BP RELEASES REPORT ON CAUSES
OF GULF OF MEXICO TRAGEDY

No single factor caused the Macondo well tragedy. Rather, a sequence of failures
involving a number of different parties led to the explosion and fire which
killed 11 people and caused widespread pollution in the Gulf of Mexico earlier
this year.

A report released by BP today concludes that decisions made by "multiple
companies and work teams" contributed to the accident which it says arose from
"a complex and interlinked series of mechanical failures, human judgments,
engineering design, operational implementation and team interfaces."

BP: No Single Factor Caused Deepwater Horizon Blast
Today : Wednesday 8 September 2010
BP PLC (Bp, BP.LN) on Wednesday said that decisions made by "multiple companies and work teams" contributed to the Gulf oil spill in a report that seeks to apportion blame for the worst offshore oil spill in U.S. history.

The London-based company also said that it was "unlikely" that problems with the design of the well contributed to the April 20 drilling-rig explosion. The conclusion rebuts criticism from Capitol Hill and puts new pressure on Halliburton Co. (HAL), which handled the cementing work on the well, and Transocean Ltd. (RIG), the operator of the Deepwater Horizon rig.

"To put it simply, there was a bad cement job and a failure of the shoe track barrier at the bottom of the well, which let hydrocarbons from the reservoir into the production casing," Tony Hayward, who led BP at the time of the explosion, said in statement. "Based on the report, it would appear unlikely that the well design contributed to the incident, as the investigation found that the hydrocarbons flowed up the production casing through the bottom of the well."

BP is walking a fine line with the release of the report, which was compiled by a team of more than 50 people led by Mark Bly, BP's head of safety and operations. The company must show that it has made a good-faith effort to determine what caused the blast while also dealing with issues of whether it showed gross negligence - which could leave the company facing stiffer penalties - in the period leading up to the blast.

BP also said that the blowout preventer, the last-resort device that is supposed to shut off a well in the event of an pressure surge, "should have activated automatically" but didn't. The company said that was "probably because critical components were not working." The blowout preventer has only recently been recovered from the sea floor and has yet to undergo a full inspection.

Halliburton and Transocean officials were not immediately available for comment.

BP Brings 3Q Earnings Forward One Week To Nov 2

Today : Friday 10 September 2010
Oil major Bp PLC (BP) said Friday it will announce third quarter 2010 earnings on Nov. 2, one week later than previously indicated.

Shares closed Thursday at 415.45 pence valuing the company at GBP78.07 billion.

Western Australia State, BP Plan Demonstration Solar PV Plant

Today : Tuesday 21 September 2010
Western Australia state will provide funding to assist in the construction of a A$58 million demonstration solar photovoltaic power plant built by Bp PLC (BP.LN) and state-backed company Verve Energy, the state government said Tuesday.

The government said the 10 megawatt development would be built as a public-private partnership, with a A$20 million government contribution.

BP Solar said it will carry out engineering and construction activity and the operation and maintenance of the plant once constructed. Work will begin in early 2011 and commissioning is expected in late 2011, it said.

"Demonstration of the technology will facilitate the development of larger projects in the future and is likely to reduce renewable electricity costs in the medium-to-long term," Western Australia Energy Minister Peter Collier said in a statement.

BP Chairman, CEO To Visit India - Oil Minister

Today : Tuesday 28 September 2010
BP PLC's (Bp) Chairman Carl-Henric Svanberg, as well as newly appointed Chief Executive Robert Dudley, will visit India, the country's oil minister Murli Deora said Tuesday.

Deora declined to elaborate on the forthcoming visit of the two senior executives of the U.K.-based oil giant.

Earlier Tuesday, the Mint newspaper reported that Dudley is likely to arrive in India Oct. 4.

BP is looking to sell stakes in some of its fields to finance its Gulf of Mexico oil spill liability, and ONGC Videsh Ltd.--a unit of state-run Oil & Natural Gas Corp. (500312.BY)--wants to buy BP's 35% stake in the $1.3 billion Nam Con Son gas project in Vietnam, the newspaper said, citing an unnamed government official.

ONGC Videsh has a 45% stake in the block, while BP and Petrovietnam Oil & Gas Group hold 35% and 20% each in the project, which has two offshore gas fields, a power project and a pipeline, the newspaper said.

After languishing much of today, shares of BP (BP) suddenly took off in the last quarter of the hour before the close, rising 61 cents, or 1.6%, to $39.32, apparently on rumors the company is in talks with the U.S. government to settle what may be owed in fines for the disaster in the Gulf of Mexico, according to a note this afternoon from Briefing.com

Theres no immediate other news today to account for the sudden gap up. Among todays tidbits, William Reilly, co-chair of the U.S. commission investigating the spill, told reporters today, noted the commission lacks subpoena power to investigate the causes of the spill. And BPs $3.5 billion bond issue, the first since the April 20 disaster in the Gulf of Mexico, was more than two times oversubscribed, writes Katy Burne of Dow Jones Newswires.

US Sends 7th Bill To BP, Seeking $62.6 Million For Oil Spill Response

Today : Friday 15 October 2010
DOW JONES NEWSWIRES

The federal government said it sent a bill for $62.6 million to Bp PLC (BP, BP.LN) and other parties for response and recovery operations related to the massive oil spill in the Gulf of Mexico.

This is the seventh bill the government has sent, and the previous six--totaling $518.4 million--were paid in full by BP, which owned 65% of the lease where a deep-water oil rig exploded and sunk in April, killing 11 workers. The incident touched off the worst offshore oil spill in U.S. history.

In addition to BP, the bills were addressed to Transocean Ltd. (RIG, RIGN.VX), which owned the rig, and to Anadarko Petroleum Corp. (APC) and MOEX Offshore 2007 LLC, both minority investors in the well. The three companies have blamed BP for the spill.

The latest bill covers expenses related to the response of more than two dozen U.S. entities and agencies from four states.

BP in July agreed to create a $20 billion escrow fund to pay individuals and businesses suffering losses from the spill.

Its American depositary shares rose 6 cents to $41.08 in after-hours trading. The ADS were down 29% this year as of the close.

BP RETURNS TO PROFIT IN THIRD QUARTER

US to sue BP and several other Companies over the Gulf leak.

Well, at last, so it isn't just wicked British petroleum. Let's hope the examination shows BP in a good light, where in the past it did not.
The OilCo's wouldn't be there if the Americans weren't so desperate for energy.
+I hold a few BP, along with many US Pension Funds who will want the dividend restored ASAP.

PEOPLE FORGET its part American


Tuesday, August 11, 1998 Published at 16:33 GMT 17:33 UK
Amoco in oil mega-merger


British Petroleum and US oil giant Amoco have announced plans for a $110bn (67bn) merger that will create Britain's biggest company.the other half of BP.

The company, to be called BP Amoco, will have its headquarters in London.

Baylis, that was more than 12-years ago!
The Amoco-bit was dropped a while back, when they rebranded with that green flower logo.
I think the 2010 "American" part of its ownership is about 40%, so any reduction in business activities (or fines), will affect the UK and US citizens, more-or-less equally, allowing for the greater exploration on/near US soil....

This blowout is, IMHO, a direct example ofthe gread demand for Oil and as sites are more difficult there will be greater risk(EDIT of the unforseen, in unknown depths, etc). . Risk is one of those strange things that whatever limits you allow for, by safety, proceedures etc. the real-world will conspire to find a way round - and an unexpected event will happen.
- It's not IF?, only When?
Today 4, Jan 2011 has seen a +6% rise in sp....clearly the Market thinks BP is in safe-waters, although I was thinking of selling-out to protect my profit from the dip.
EDIT(6Jan2011)- up a tad more today....R4 News says US is blaming BP+2US Co's for cost-cutting - sounds a bit of window dressing, since BP has been the only player paying vast sums out. This is a first in the US, isn't it? [BP.] is 505p great stuff, eh? Methinks BP is on the rise and with commodities scarce OIL can only go up.

BP and Russia in Arctic oil deal

BP has signed a joint venture with Russian energy firm Rosneft to exploit potentially huge deposits of oil and gas in Russia's Arctic shelf.

Putin offers tax breaks for BP deal

Russia's Prime Minister, Vladimir Putin, has promised to give BP "the most favourable tax treatment" in the Arctic as its 10bn deal with the Kremlin was greeted with cautious optimism by investors yesterday.

BP targets one of the world's last unspoilt wildernesses after deal

Greenpeace and the World Wide Fund for Nature (WWF) have vowed to confront BP's American boss, Bob Dudley, over the agreement with the Russian state-owned oil giant Rosneft to explore the Kara Sea, north of Siberia. The British energy firm was branded the world's "environmental villain number one" by Friends of the Earth (FoE) yesterday in response to its move to exploit potential oil reserves in the remote waters.

17 January, 2011

BP AWARDED FOUR AUSTRALIAN DEEPWATER EXPLORATION BLOCKS

BP today announced that it has been awarded four deepwater offshore blocks in the Ceduna Sub Basin within the Great Australian Bight, off the coast of South Australia.

BP said that it will explore Exploration Permit for Petroleum (EPP) areas EPP 37, EPP 38, EPP 39 and EPP 40 covering an area of 24,000 km2 for oil and gas reserves, with the right to develop any commercially viable discoveries.

"This is a material and early move into an unexplored deepwater basin" said Mike Daly, Executive Vice President of Exploration for BP.

"The Ceduna Sub Basin is a very exciting new exploration area for BP. Our experience tells us that the geology has a high potential for containing hydrocarbons," added Dr Phil Home, Managing Director of BP's Australian upstream oil and gas business.

BP said that the proposed exploration activity would be phased over 6 years and, as part of the regulatory approval process, would be subject to detailed environmental assessment.

Notes to Editors

BP Australia is an energy company involved in a wide range of activities such as exploring for and producing natural gas and crude oil resources, refining and marketing petroleum products, producing lubricants, and generating electricity from solar panels.

BP is a joint venture participant in the North West Shelf Project and also owns assets which are being developed in the Gorgon LNG Project and the Browse LNG Projects. Its downstream business is centred on refineries near Brisbane and Perth and has a network of almost 1,400 service stations throughout Australia.

Seismic survey activity could take place in the summer of 2011/12. Drilling activity is not expected to take place until 2013 or 2014. BP is committed to use the intervening time to fully implement the lessons learned from the investigations into the Montara and Deepwater Horizon incidents, and is working closely with the Australian Government, the South Australian Government and industry to do so.

RNS Number : 5402Z

Bp PLC

14 January 2011

press release

14 January, 2011

Statement regarding Rosneft reports

Following recent press speculation, BP confirms that it is in discussions with Rosneft relating to a possible arrangement with Rosneft.

A further announcement is to be made later today.