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?

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.

UPDATE: Rosneft, BP To Drill First Arctic Well In 2015

BP (NYSE:BP)

Today : Monday 17 January 2011
U.K. oil major Bp PLC (BP) will solely finance the around $2 billion for the first development stages of its joint Arctic project with Russia's OAO Rosneft (ROSN.RS), which will begin drilling in 2015, Rosneft Vice President Peter O'Brien said Monday.

The two companies agreed late last week to form a joint venture to explore three offshore licenses in the Kara Sea north of Russia. BP will spend up to $2 billion in the initial phase on seismic testing and drilling wells.

The deal also includes a share swap, which will give Rosneft a 5% stake in BP, while BP will get a 9.5% stake in Rosneft.

The three Arctic blocks EPNZ 1, 2, 3, which are roughly equivalent in size and reserves to U.K.'s North Sea fields, primarily hold natural gas. However, the partners will mainly focus on the oil deposits and only develop the natural gas at a later stage, said O'Brien.

A BP spokesman said the first drilling could happen in 2015 at the earliest, but is likely to be later than that. BP will host a conference call later Monday.

O'Brien also said the two companies still have to discuss the possibility of joint representation on their respective boards, as part of the share swap.

-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 232 9197; jacob.pedersen@dowjones.com

600p[ plus for a cert

Not too sure about the swaps at Director-level, could have consequences in some countries, but the fact is that BP has been roasted by the Americans at every opportunity, despite the huge sums they put into clean-up and local businiesses. Give me an example of anu US company behaving so generously and quickly - it doesn't happen.
We know US is greedy for oil and this is a consequence of exhausing the easy-fields, quite simple. Why would anyone fit a Blow-Out preventer, if it doesn't work when needed....yet I don't read much effort being directed to the US companies involved in this disastyer - all a bit one-sided. You'd think we had attacked USA in WWII, the Gulf, Iraq, Afgahistan......funny, I though we fought alongside...

This Russian-connection is a direct result of American behaviour IMHO, it may be wrong and it might only be US Politicians posturing...but BP. has to look to the future and frankly I suspect that isn't West any longer. I can't see any new investment in USA being voted by many shareholders. I suspect many US-shareholders will sell-off as the sp returns to previous levels, quite soon.
The SP is holding and Tanker may be right! . . . . I hold a few.

EARNINGS PREVIEW: Strong 4Q Expected For UK Oil Companies


TAKING THE PULSE: The outlook for fourth quarter earnings from the three major U.K. oil companies is generally positive. Stronger oil and natural gas demand and prices in the period and improved refining margins will drive earnings higher, analysts said.

With broader oil market conditions having the biggest effect and most predictable effect on companies' results, analysts will be focusing on strategy updates, which coincide with the earnings release for Bp and Bg Group and will come from Shell in March, as the key differentiator of performance.

Bg Group and Shell both have significant new developments whose latest timetables will be closely scrutinized. BP will be laying out for the first time its path forward from the Deepwater Horizon disaster under new Chief Executive Bob Dudley.

Shell is the top pick for many analysts as it rides a wave of new production, efficiency gains and exposure to improved refining economics.

COMPANIES TO WATCH:

BP PLC (BP) (February 1 2011)

MARKET EXPECTATIONS: Analysts expect BP's adjusted profit to be up year-on-year due to higher oil prices and refining margins, but down from the third quarter of 2010 due to lower production. Oil and gas volumes are likely to be down around 10% on the year and 3% from the previous quarter, following $22 billion in asset sales since the Deepwater Horizon disaster, temporary field outages and the drilling moratorium in the Gulf of Mexico, said Collins Stewart analysts.

MAIN FOCUS: "News flow on the dividend and a strategy update should be more important than the results themselves," said Collins Stewart. BP is widely expected to resume dividend payments, after suspending them in June to help cover the cost of the Gulf of Mexico spill. Collins Stewart analysts expect dividends to resume at 7 cents a share, half the previous level. ING analyst Jason Kenney predicts a new quarterly dividend of 10 cents a share.

Royal Dutch Shell PLC (RDSB.LN) (February 3 2011)

MARKET EXPECTATIONS: "Shell remains our top pick for the near-term amongst the European Majors due to its potential to grow cash flow over the next few years, on the back of some significant growth in upstream production," said analysts at Bernstein Research. Because of this, and the improved oil price and refining margin environment, Shell is expected to show sector-leading earnings growth.

Collins Stewart analysts expect the company to report a 70% year-on-year rise in adjusted profit and a 3% rise in oil and gas production for the quarter. "This would give an impressive full year 2010 [production] growth rate of around 4.5%, with similar growth still to come in 2011-2012 on our estimates," it said. It may increase dividends to 44 cents a share, from 42 cents a share, the analysts said.

MAIN FOCUS: Investors will be looking for news on the ramp up in production at Shell's key Qatari projects, the Pearl Gas-To-Liquids plant and the Qatargas 4 gas liquefaction train. There is some optimism on this front. "We even see a notable possibility of expanded medium-term targets at the 15 March strategy update," said ING's Kenney. Analysts will also be looking for another update on how the post-spill disruption to offshore drilling in the U.S. is hurting Shell. "There remains a risk that Arctic exploration North of Alaska could be delayed, said analysts at Bernstein.

BG Group PLC (BG.LN) (February 8 2011)

MARKET EXPECTATIONS: BG is expected to have had a good quarter. Rising gas demand and prices in Europe and the U.S. due to cold weather will support its earnings and should in turn support the global liquefied natural gas market, which is a big part of BG's profits. "The inflection for earnings and upstream growth momentum at BG Group over 2010 will soon draw to an end. We expect a significant uptick in operational momentum in mid-2011 onward," said ING's Kenney.

MAIN FOCUS: BG Group will have lots of new exploration and development projects to talk about. "The strategy update and outlook from the company is expected to be most positive given progress in Brazil, Norway, Australia and U.S. gas and exploration success in, for example, Tanzania," said Kenney. "BG the best positioned company amongst the integrateds...we would expect 2011 to be another good year for BG," said Bernstein Research.