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?

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.

BP spill settlement clears way for comeback

BP’s Shares Poised to Rise Following $7.8b Settlement

Former BP executive Tony Hayward was grilled on past safety record, oil spill deposition shows

BP Unlikely To Return To Bumper Dividend Despite Gulf Settlement – Source

sp steadily dropping, any news on the US court case?

They accepted to consider the evidence presented by BP regarding the amount of oil spill following the request by BP.

BP, private plaintiffs settle over Gulf oil spill

(Reuters) - BP Plc on Wednesday said it has reached definitive agreements with well over 100,000 private plaintiffs to resolve claims for economic, property and medical damages resulting from the 2010 Gulf of Mexico oil spill.

http://finance.yahoo.com/q?s=BP.L&ql=0

MADRID (MarketWatch) -- Shares of BP PLC UK:BP -1.13% BP -1.62% fell over 2% in London on Friday after an audit by the U.S. Department of Justice found the oil major owes an additional $64 million in payments related to the April 20, 2010 Deepwater Horizon oil spill. ....


Interesting point is that, BP market cap fell over £1.5bln on the news about £40mln cost.

BP FIRST QUARTER 2012 RESULTS

Canaccord note:
"We are raising BP from Hold to Buy, in a sector report published today. We think the shares’ weakness – notably a return to near post-Macondo lows vs the US majors – leaves valuations discounting very little upturn in BP fortunes. We are not convinced of the strength of BP’s longer-term growth, but see a strong recovery in 2013-14. Meanwhile, we think current sentiment leaves room for good upside in the case of material progress on issues such as a US settlement over fines, or further disposals. We have been cautious on the integrated oils for the past few months, but after the European sector’s 7% underperformance YTD we see a much better risk/reward balance. In particular, 1) sector valuations are looking increasingly attractive to us, with 47% average upside to our SoP values, and 2) we are much more comfortable on downside risks with Brent having pulled back below $110/b.
Operationally, we expect E&P results to continue to weaken in the short term due to high summer maintenance, but this has now been well flagged and we think 4Q12 could mark the start of a more visible upstream recovery. Meanwhile, near-term results could see solid support from the sharp recovery seen in refining margins, notably in the US where BP has a large proportion of its capacity. After a weak 2012, we see a bounce in E&P volumes of 4-5%pa (ex TNK-BP) in 2013-14, with a significant boost to average margins. Thereafter, we think the longer-term outlook is one of limited volume growth (sub-1% pa) and much higher capex, albeit with good potential for exploration catalysts. While this makes us somewhat cautious on the shares’ long term prospects, we think they could perform well on a 6-12 month view.
We see 44% upside to our SoP estimate, which is close to the sector average, and a 2013E EV/DACF multiple only slightly above average. BP still has the uncertainty over Macondo, but we think this is an attractive valuation for a European oil stock with limited Eurozone exposure. We forecast a prospective dividend yield of 5.2% for FY12 and 5.7% for FY13E, with a 2013-14 free cash yield of 7.5-8%.
We see main potential catalysts as: 1) any progress on settlement in the US over Macondo fines, 2) material further disposals ($15bn remains vs target) and 3) signs of E&P performance bottoming. TNK-BP remains one of the key risks in our view.

Didn't they raise HSBA to 600p last week?