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?

RNS Number : 1222U

Bp PLC

16 December 2011


press release

16 December, 2011

BP Announces Settlement with Cameron International Corporation

of Claims Related to the Deepwater Horizon Accident

BP today announced that it has reached agreement with Cameron International Corporation ("Cameron"), the designer and manufacturer of the Deepwater Horizon blowout preventer, to settle all claims between the companies related to the Deepwater Horizon accident and spill. BP and Cameron have concluded that the settlement is in their mutual best interests, and the agreement is not an admission of liability by either party.

Under the settlement agreement, Cameron will pay BP $250 million. BP will immediately apply the payment to the $20 billion trust it established to meet individual, business and government claims, as well as the cost of the natural resource damages.

BP and Cameron have agreed to mutual releases of potential claims against each other, and BP has agreed to indemnify Cameron for compensatory claims resulting from the accident, including claims brought relating to pollution damage stemming from the accident or any damage to natural resources. BP's indemnity excludes civil, criminal or administrative fines and penalties, claims for punitive damages, and certain other claims. BP and Cameron will discontinue claims against each other in the Multi-District Litigation pending in New Orleans.

"Today's settlement allows BP and Cameron to put our legal issues behind us and move forward to improve drilling in the safety industry," said Bob Dudley, BP group chief executive. "Cameron is the fourth company to settle with BP and contribute to economic and environmental restoration efforts in the Gulf. Unfortunately, other companies persist in refusing to accept responsibility for their roles in the accident and for contributing to restoration efforts."

BP and Cameron each acknowledge that the Deepwater Horizon accident resulted from complex and interlinked causes involving multiple parties. They agree that the entire industry can and should learn from the accident in order to improve safety in the drilling industry by developing, among other things, standard specifications for blowout preventers and other drill through equipment. BP and Cameron have committed to working together to improve processes and procedures, managerial systems, specifications and safety and best practices in offshore drilling operations. Both BP and Cameron will encourage other companies in the drilling industry to join them in this improvement and reform effort.

Today's announcement follows settlements by BP with MOEX and Anadarko, BP's partners in the Macondo well, and Weatherford, the maker of the float collar used at the well. From the outset, BP has committed to paying all legitimate claims and fulfilling its obligations to the Gulf communities under the Oil Pollution Act. To date, BP has paid out approximately $7.5 billion to individuals, businesses, and government entities.

Notes to editors:

-- This settlement agreement will result in the discontinuance of any legal proceedings between BPXP and Cameron, including in Multi-District Litigation 2179 in New Orleans, Louisiana.

-- Cameron shall pay the agreed settlement in cash within 30 days of the effective date of the settlement, which is December 14, 2011.

.

RNS Number : 1627U

Bp PLC


16 December, 2011

Air BP Expands in Brazil

To Meet Growth in Aviation

Air BP announced today the purchase of aviation fuel assets at seven Brazilian airports from Shell Brasil Holding B.V. and Cosan S.A. Industria e Comercio for R$185 million (ca. US$100 million). The acquisition will give Air BP access to Guarulhos, Recife, Viracopos, Curitiba and Pampulha airports, as well as increasing capacity at existing Air BP operations in Galeao and Brasilia. The deal is expected to be completed in the first quarter of 2012 subject to regulatory approvals.

On completion, Air BP will be present at 18 Brazilian airports which together account for some 66 percent of aviation fuel demand in Brazil. The deal adds physical assets such as storage tanks, vehicles and pipelines for into-plane refuelling, allowing Air BP to market fuel direct to commercial airlines and general aviation customers at the new locations.

"This acquisition is another step forward in BP's growth strategy in Brazil which has become a key centre of investment for us," said Tufan Erginbilgic, BP's chief operating officer, refining and marketing. "In addition to achieving strong growth in Air BP and Castrol lubricants, in 2008 we were the first international oil company to invest in Brazil's biofuels industry and we recently took that investment total to well over $1 billion through acquisitions."

In 2011, BP also gained government approvals for the purchase of significant deepwater exploration and production assets in the Campos and Camamu-Almada basins offshore and onshore in the Parnaiba basin.

For Air BP's new investment, approximately 80 employees will be recruited at airports and the head office in Sao Paulo to manage the new business, increasing total headcount by some 70 percent over the next two years.

"Demand growth for aviation fuel in Brazil is well above the average global rates at around 16 percent. The purchase of these new assets will allow Air BP to accelerate its ambitious plans to grow its share of supply. This is a move welcomed by our customers as it will increase competition in the market," said Ricardo Paganini, Air BP country manager in Brazil.

"BP's investments in Brazil are fundamental to our growth agenda. This year has been key to that growth with the significant expansion of BP's exploration and production business in Brazil, the acquisition of CNAA and the Tropical BioEnergia ethanol businesses and now with the expansion of our aviation fuel business. Brazil is a country blessed with natural and human resources and a growing market and we are pleased with the opportunity to be part of the country's industrial development," said Guillermo Quintero, BP Brazil's regional president.

Shares in oil giant BP (BP.) rose almost 2% on Friday as it confirmed that it was to continue with a proposed AU$923 million (£598 million), 150-megawatt solar project in New South Wales, Australia.

However, the company and its partners have yet to sign power-supply agreements. They have failed to meet a 15 December deadline to reach a financial close.

"We continue to remain part of the consortium and we continue to work to bring the project to fruition," Jamie Jardine, a Melbourne-based spokesman for the company, told Bloomberg.

Construction of the plant is expected to start in the second half of 2012.

In fact, earlier this year BP, along with Fotowatio Renewable Ventures and Pacific Hydro, won government funding worth AU$306.5 million from the Australian government, which has set a target of generating 20% of its power from renewable energy sources by the end of the decade, to build the Moree solar farm. The companies aim to build one of the world's largest plants using photovoltaic panels to turn sunlight into power.

The comments made today were in stark contrast to those made by BP earlier this month when it told its employees that it was to quit the solar business after 40 years. The division had become unprofitable due to Chinese competition, leading to oversupply and price competition in the industry. It quit manufacturing entirely in July and revealed that it intended to sell stakes in the more than 158 megawatts of projects it has developed with local partners.

BP sues cement firm for spill costs

OIL giant BP has fired the latest shots in a legal battle over the Deepwater Horizon catastrophe, claiming contractor Halliburton should pay all of its billions of pounds of costs.

Not a bad days work!

BP p.l.c.
Notification of transactions of persons discharging managerial responsibility or connected persons

BP p.l.c. was informed on 19 January 2012, by Fidelity Stock Plan Services LLC, that the following senior executives (persons discharging managerial responsibility) in BP p.l.c. acquired the numbers of BP ADSs (ISIN number US0556221044) shown opposite their names on 18 January 2012 at US$43.770 per ADS, as a result of the vesting of awards made under the BP Deferred Annual Bonus Plan.

Mr M Bly 6,789.143 ADSs
(equivalent to approximately 40,735 ordinary shares)

Mr R Fryar 6,648.503 ADSs
(equivalent to approximately 39,891 ordinary shares)

Mr H L McKay 14,919.944 ADSs
(equivalent to approximately 89,520 ordinary shares)

BP p.l.c. was informed on 19 January 2012, by Fidelity Stock Plan Services LLC, that the following senior executives (persons discharging managerial responsibility) in BP p.l.c. acquired the numbers of BP ADSs (ISIN number US0556221044) shown opposite their names on 18 January 2012 at US$43.770 per ADS, as a result of the vesting of awards made under the BP Executive Performance Plan.

Mr M Bly 5,390.979 ADSs
(equivalent to approximately 32,346 ordinary shares)

Mr R Fryar 4,165.984 ADSs
(equivalent to approximately 24,996 ordinary shares)

Mr H L McKay 10,367.964 ADSs
(equivalent to approximately 62,208 ordinary shares)

This notice is given in fulfillment of the obligation under DTR3.1.4R.

press release

27 January 2012

BP Statement on U. S. District Court Ruling on Partial Summary Judgment Regarding Indemnity in Deepwater Horizon Accident

This statement was made on 26 January 2012 in response to the court ruling issued the same day.The full judge's Opinion can be read here: http://www.laed.uscourts.gov/OilSpill/OilSpill.htm

Today's ruling makes clear that contractors will be held accountable for their actions under the law. While all official investigations have concluded that Transocean played a causal role in the accident, the contractor has long contended it is fully indemnified by BP for the liabilities resulting from the oil spill. The Court rejected this view.

Under the decision Transocean is, at a minimum, financially responsible for any punitive damages, fines and penalties flowing from its own conduct. As we have said from the beginning, Transocean cannot avoid its responsibility for this accident.

By contrast, since the spill we have stepped up, acknowledged our role and paid more than $7.8 billion in claims, advances and other payments to individuals, businesses and governments.

The BBC slant - BP must cover some Transocean liabilities for oil spill

Chevron And BP: 2 Undervalued Oil Stocks To Buy Now

BP shares also look undervalued based on a higher than average dividend which is $1.68 per share. This dividend offers a yield of 3.8% which is nearly twice the average for the S&P 500 Index. In a couple of years, the financial impact of the spill should be negligible and the global economy is likely to push oil prices higher. Those two factors could mean significantly higher profits for BP, along with strong gains for the stock price. BP reported $1.63 per share in earnings for the third quarter and the company is expected to announce fourth quarter earnings on February 7, 2012. Many oil stocks have dropped recently after reporting earnings, so it makes sense to buy now and more on any dips.

.

Final results tomorrow.

Final Results.

· BP's fourth-quarter replacement cost profit was $7,606 million, compared with $4,614 million a year ago. For the full year, replacement cost profit was $23,900 million compared with a loss of $4,914 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 fourth quarter and full year includes pre-tax credits related to the Gulf of Mexico oil spill of $4.1 billion and $3.7 billion respectively, reflecting the settlements reached in the fourth quarter with Anadarko Petroleum Company and Cameron International Corporation. The full year also reflects settlements with MOEX USA Corporation and Weatherford U.S., L.P. All amounts relating to the oil spill 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 34 - 42.

· Non-operating items (including amounts relating to the Gulf of Mexico oil spill) and fair value accounting effects for the fourth quarter, on a post-tax basis, had a net favourable impact of $2,620 million compared with a net favourable impact of $250 million in the fourth quarter of 2010. For the full year, there was a net favourable impact of $2,242 million for 2011 compared with a net unfavourable impact of $25,436 million in 2010. 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 $261 million for the fourth quarter, compared with $346 million for the same period last year. For the full year, the respective amounts were $983 million for 2011 and $1,123 million for 2010.

· The effective tax rates on replacement cost profit for the fourth quarter and full year were 30% and 33% respectively, compared with 34% and 32% a year ago. The reduction for the fourth quarter was due to the impact of the divestment programme and other factors. In 2012, we expect the effective tax rate to be in the range 34 - 36%.

· Including the impact of the Gulf of Mexico oil spill, net cash provided by operating activities for the fourth quarter and full year was $5.0 billion and $22.2 billion respectively, compared with net cash used in operating activities of $0.2 billion for the fourth quarter of 2010 and net cash provided by operating activities of $13.6 billion for the full year of 2010. The amounts for the quarter and full year of 2011 included net cash outflows of $1.2 billion and $6.8 billion respectively relating to the Gulf of Mexico oil spill.

· Net debt at the end of the quarter was $29.0 billion, compared with $25.9 billion a year ago. The ratio of net debt to net debt plus equity was 20.5%, compared with 21.2% a year ago. We intend to reduce the net debt ratio to the lower half of the 10 - 20% range over time. Net debt is a non-GAAP measure. See page 5 for further information.

· Our 2011 reported reserves replacement ratio, excluding acquisitions and disposals, was 103% (details of which will be provided in BP Annual Report and Form 20-F 2011). This reflects both subsidiaries and equity-accounted entities. Reserves additions for TNK-BP include the effect of moving from life-of-licence measurement to life-of-field measurement, reflecting TNK-BP's track record of successful licence renewal. Excluding this effect, our 2011 reserves replacement ratio excluding acquisitions and disposals would have been 83%.

· Total capital expenditure for the fourth quarter and full year was $7.6 billion and $31.5 billion respectively. Organic capital expenditure(c) in the fourth quarter and full year was $6.3 billion and $19.1 billion respectively. For 2012, we expect organic capital expenditure to be around $22 billion. Disposal proceeds, including deposits received or repaid, were $(2.0) billion for the fourth quarter and $2.7 billion for the full year. These amounts include the repayment of the deposit of $3.5 billion relating to Pan American Energy LLC in the fourth quarter, following the termination of that disposal transaction (see Note 4 on page 28). As a result of the termination, our previously announced divestment programme of $45 billion (over the period 2010 to 2013 inclusive) is reduced to $38 billion.

· Depreciation, depletion and amortization in 2012 is expected to be around $1.0 billion higher than in 2011.

· The quarterly dividend expected to be paid on 30 March 2012 is 8 cents per share ($0.48 per ADS). The corresponding amount in sterling will be announced on 19 March 2012. A scrip dividend alternative is available, allowing shareholders to elect to receive their dividend in the form of new ordinary shares and ADS holders in the form of new ADSs. Details of the scrip dividend programme are available at www.bp.com/scrip.

BP RAISES DIVIDEND AS OPERATIONAL MOMENTUM RETURNS

BP today announced a 14 per cent increase in its quarterly dividend - to 8 cents per share for the fourth quarter of 2011 - the first rise since the company resumed paying a dividend a year ago. BP's underlying replacement cost profit for the quarter rose by 14 per cent on the same period in the previous year.

BP In Settlement Talks Over Gulf Spill Claims: Source -Bloomberg News

Today : Thursday 9 February 2012


BP Plc (BP) is negotiating with U.S. officials to settle pollution claims over the 2010 Gulf of Mexico oil spill, which could amount to as much as $17.6 billion in fines, Bloomberg News reported Thursday on its website, citing an unnamed source.

The company is also in talks for settlements with other companies tied to the spill, the report quoted the source as saying.

A BP spokesman declined comment, while a Justice Department spokeswoman on criminal matters and a government spokesman on BP civil matters also declined comment, the report said.

Full Story: http://www.bloomberg.com/news/2012-02-09/bp-said-to-seek-u-s-settlement-of-gulf-spill-pollution-claims.html

BP 'in Macondo settlement talks'

British supermajor BP is reportedly locked in negotiations with US officials on a possible multi-billion settlement over pollution claims stemming from the 2010 Macondo blowout disaster.

12 month high 503.80.

JOINT STATEMENT BY BP and PSC REGARDING MDL2179

New Orleans, USA - BP and the Plaintiffs' Steering Committee (PSC) confirmed that the U.S. District Court has today adjourned the start of the Deepwater Horizon Multi-District Litigation 2179 civil trial by one week, until Monday, March 5th. This adjournment is intended to allow BP and the PSC more time to continue settlement discussions and attempt to reach an agreement.

BP and the PSC are working to reach agreement to fairly compensate people and businesses affected by the Deepwater Horizon accident and oil spill.

There can be no assurance that these discussions will lead to a settlement agreement. A further announcement will be made as appropriate.

12 month high today.

RNS Number : 2929Y

BP Plc

28 February 2012

press release

28 February, 2012

BP Agrees to Sell KANSAS gas PRODUCTION

AND processing assets

HOUSTON - BP (NYSE: BP) announced today that it has agreed to sell its interests in the Hugoton, Kansas, Jayhawk gas processing plant and associated producing gas fields in Kansas to an affiliate of LINN Energy, LLC (NASDAQ: LINE).

Under the agreement, LINN Energy has agreed to pay BP $1.2bn in cash. Completion of the agreement is subject to closing conditions including the receipt of all necessary governmental and regulatory approvals. The sale is currently expected to complete on 30 March, 2012.

The agreement includes the sale of all of BP's working interest in about 2,400 wells in the Hugoton natural gas field, as well as the Hugoton Jayhawk gas processing plant, which has a processing capacity of about 450 million standard cubic feet of gas per day (mmscf/d). The majority of BP's current net natural gas production of about 110 million cubic feet of gas equivalent in the area is processed through the plant.

BP group chief executive Bob Dudley said: "We are reshaping BP's business around the world, focusing on our strengths and future growth opportunities. The sale of these mature assets will allow us to concentrate our efforts on our strong core positions in the U.S. and globally."

In 2011, BP produced over 1,800 mmscf/d natural gas in the US. BP's North America Gas business has a high quality portfolio of assets with a presence in 6 of the top 13 gas basins in the US Lower 48.

BP's operations center in Ulysses, Kansas is staffed by 120 employees. Most are expected to receive offers with LINN.

BP's growing presence in the wind business in Kansas will be unaffected by the sale.

Further information:

BP press office, Houston: + 1 281-366-4463, uspress@bp.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

BP reaches $7.8n deal over Deepwater Horizon oil spill

BP says it has reached a $7.8bn (£4.9bn) deal with the largest group of plaintiffs suing the company over the 2010 Deepwater Horizon oil rig spill.

It will benefit some 100,000 fishermen, local residents and clean-up workers whose livelihoods or health suffered.

A trial in the case, due to begin on Monday, will now be delayed - for a second time - as a result of the deal, Judge Carl Barbier said.

The settlement will "likely result in a realignment of the parties," he said.

The trial is now being adjourned "in order to allow the parties to reassess their respective positions," Judge Barbier said.