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?

Iran: 10p for the first 60 liter per month per car, then 30p a liter.

Apart from Venezuela, the cheapest prices are available in muslim countries.

The way things are going the UK could be one soon

As long as the human right is misused by the media and lawyears to help criminals, the downward trent continues..... The media sometimes teaches how to do crime to our children.

The media likes to generate news, and they know that presenting controversial messages has more buyers. They are happy to follow drug addicts and give them the publicity even though it damages the community. Why don't they spend the money, public money, to show the life of our scientists. These criminals, drug addicts, etc .... are humans who are in most cases burden to the community, and we should not be proud of.

I think they should rename the human right to the criminal right!!!

South London Chavs are to blame

With Tropical Storm Nate on the horizon, energy producers started Thursday bringing employees onshore again just days after they began restaffing following Tropical Storm Lee.

Companies were in the middle of restoring operations after Lee, which forced the shut-in of 60% of the oil and about half the natural gas Gulf's production before the storm made landfall Sunday in south Louisiana.

As of Thursday morning, oil output was significantly up compared to the previous day, with about 85% of the U.S. gulf production restored, according to the Bureau of Ocean Energy Management, Regulation and Enforcement, which oversees oil and gas drilling in federal waters. Gas output also grew, with 93% of production back on line.

But as Lee fades from memory, Bp PLC (BP, BP.LN) and Apache Corp. (APA), two of the top oil and gas producers in the Gulf, said Thursday they have started evacuating non-essential workers from some of their platforms, ahead of Nate, now gaining strength in the Gulf.

Nate, with sustained wind speeds of up to 60 miles an hour, is moving a scant 1 mile per hour as of Thursday afternoon. The storm could become a hurricane by Saturday morning as it heads northwest toward the southern tip of Texas, according to the National Hurricane Center.

BP was evacuating personnel from its Mad Dog, Holstein and Atlantis platforms in the Southern Green Canyon field.

Apache's spokesman Bill Mintz said the company was evacuating non-essential personnel from facilities in the far western Gulf but that production was not curtailed.

Nate has not prompted new production shut ins, but if the weather worsens that could change as companies would begin evacuating essential personnel.

Anadarko Petroleum Corp. (APC) said Thursday its Gulf platforms were "on line," but that it was monitoring the storm and that it was prepared to remove workers if the weather begins to track toward its platforms. ExxonMobil Corp. (XOM), Marathon Oil Corp. (MRO) and Royal Dutch Shell (RDSA) said they were monitoring the storm.

As of Thursday morning, production of about 206,681 barrels per day of oil and 362.8 million cubic feet of gas were curtailed, according to the Bureau of Ocean Energy Management, Regulation and Enforcement. Personnel from a total of five operating platforms, equivalent to 0.8% of all the manned platforms in the Gulf, were evacuated. A total of two drilling rigs out of 62 rigs operating in the Gulf have been evacuated so far, the government agency said.

A fire broke out late Thursday at a petrochemical plant in Shanghai, but it was contained by early morning, China's official Xinhua news agency reported Friday.

The ethylene production plant, owned by Shanghai Secco Petrochemical Co., is a joint venture between China Petroleum and Chemical Corp., also known as Sinopec, its subsidiary Sinopec Shanghai Petrochemical Co. (SHI) and Bp East China Investment Co., a unit of BP PLC (BP).

No casualties were reported. Xinhua didn't mention the fire's impact on production.

Secco's ethylene plant, located near Hangzhou Bay, has an annual capacity of 1.09 million metric tons a year, the company said on its website.

Siberian court rescinds order for BP raid

Good volume for this time of day, but it can't quite manage 4 quid.

Today or not today!

Govt. report: BP disaster caused by poor management decisions

Former Bp PLC (BP, BP.LN) chief executive Tony Hayward has resigned from the board of Russia's TNK-BP (TNBP.RS), Reuters reported on its website Sunday, citing a source.

According to the report, the source said Hayward retired "due to other commitments." The report also said TNK-BP's board approved a $1.25 billion special dividend for investors.

Mind the gap.

Looking for a break above 420.




RNS Number : 2756Q

Bp PLC

17 October 2011

press release

17 October 2011

BP ANNOUNCES SETTLEMENT WITH ANADARKO

PETROLEUM COMPANY OF CLAIMS RELATED TO

DEEPWATER HORIZON ACCIDENT

BP today announced that it has reached agreement with Anadarko Petroleum Company ("Anadarko") to settle all claims between the companies related to the Deepwater Horizon accident. Anadarko - which had a 25 per cent interest in the MC252 (Macondo) prospect - and BP have concluded that entering into a settlement is in the best interest of the parties to resolve pending disputes. The agreement is not an admission of liability by any party regarding the accident.

Under the settlement agreement, Anadarko will pay BP $4 billion in a single cash payment. BP will apply the payment to the $20 billion trust it established that is available to meet individual, business and government claims, as well as the cost of the natural resource damages. Anadarko will also transfer all of its 25 per cent interest in the MC252 lease to BP.

In addition, Anadarko will no longer pursue its allegations of gross negligence with respect to BP. Anadarko and BP have agreed to work cooperatively with respect to indemnified claims, and Anadarko has the opportunity for a 12.5 per cent participation in future recoveries from third parties or insurance proceeds cumulatively exceeding $1.5 billion, up to a total cap of $1 billion.

Finally, the parties have also agreed to mutual releases of claims against each other. BP has agreed to indemnify Anadarko for certain claims arising from the accident. However, BP's indemnity excludes civil, criminal or administrative fines and penalties, claims for punitive damages, and certain other claims.

"This settlement represents a positive resolution of a significant uncertainty and it resolves the issues among all the leaseholders of the Macondo well," said Bob Dudley, BP group chief executive. "There is clear progress with parties stepping forward to meet their obligations and help fund the economic and environmental restoration of the Gulf. It's time for the contractors, including Transocean and Halliburton, to do the same."

BP previously announced settlements with MOEX, which had a 10 per cent interest in the Macondo well, and Weatherford, which provided drilling equipment. Consistent with official investigations that found the accident was the result of multiple causes, involving multiple parties, BP is working to ensure that other parties, including Halliburton and Transocean, contribute appropriately. Multiple official investigations, including those conducted by the Presidential Commission and the Marine Board of Investigation, found that conduct by those parties contributed to the accident. The issuance of regulatory violations last week to BP, Transocean and Halliburton by the US Department of Interior demonstrates that the contractors responsible for well control and cementing, not just the operator, should be held accountable for their conduct.

From the outset, BP has committed to paying all legitimate claims and fulfilling its obligations to the Gulf Coast communities under the Oil Pollution Act. BP has to date paid out more than $7 billion.

Notes to editors:

-- This settlement agreement will result in the discontinuance of any legal proceedings for co-owner recovery under the Joint Operating Agreement between BP and Anadarko.

-- This settlement will also result in the discontinuance of claims made by BP and Anadarko against each other in the Multi-District Litigation Trial in New Orleans set to commence in February 2012 ("MDL").

And there it is :-))

.

BP still feeling pain from Gulf fallout as production suffers

More details will also be sought by the City about the recent announcement that the group secured government approval for a 4.5bn oil project, in the Clair field, west of Shetland. BP is expected set to pay a dividend of eight cents, up from seven cents last year.

3rd Quarter Results.

BP's third quarter replacement cost profit was $5,140 million, compared with $1,847 million a year ago. For the nine months replacement cost profit was $15,930 million compared with a loss of $9,528 million a year ago. Replacement cost profit or loss for the group is a non-GAAP measure. For further information see pages 4 and 17.

The group income statement for the third quarter and nine months includes pre-tax charges related to the Gulf of Mexico oil spill of $0.6 billion and $0.4 billion respectively. All amounts relating to the incident have been treated as non-operating items. For further information on the Gulf of Mexico oil spill and its consequences see pages 2 - 3, Note 2 on pages 21 - 26, and Legal proceedings on pages 32 - 37.

Non-operating items (including amounts relating to the Gulf of Mexico oil spill) and fair value accounting effects for the third quarter, on a post-tax basis, had a net unfavourable impact of $187 million compared with a net unfavourable impact of $3,684 million in the third quarter of 2010. For the nine months, the respective amounts were $378 million and $25,686 million unfavourable. See pages 4, 18 and 19 for further details.

Finance costs and net finance income or expense relating to pensions and other post-retirement benefits were $234 million for the third quarter, compared with $335 million for the same period last year. For the nine months, the respective amounts were $722 million and $777 million.


And so much for the article in the Scotsman.

The quarterly dividend expected to be paid on 19 December 2011 is 7 cents per share ($0.42 per ADS).

DUDLEY SETS OUT PRIORITIES FOR STRONGER SAFER BP


-- October 2011 is turning point for operations and production

-- Company to build on strengths; increasing divestments to $45 billion; investing in projects with higher returns

-- 2011 best year for upstream access for a decade; plans to double exploration
-- Downstream on track to deliver record earnings
-- Cash flow expected to grow some 50% by 2014
-- Targeting higher investment and distribution to shareholders

BRIAN GILVARY TO JOIN BP BOARD AS
CHIEF FINANCIAL OFFICER

market says numbers much better than expected!