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?

Fluctuating between 459 to 442. Given the news, it should move above 500p IMO.
During the spill period, it was moving down 5p per 1bln loss. Now 27bln cash is being ignored!

Rosneft to buy BP out of TNK-BP first - source

MOSCOW | Mon Oct 29, 2012 12:40pm GMT

(Reuters) - Giant BP is set to exit its stake in the TNK-BP joint venture ahead of the AAR consortium of tycoons, when they sell out to state-controlled Rosneft, a source close to Rosneft told Reuters on Monday.

BP has struck a deal to sell its stake in the joint venture, Russia's third-largest crude producer, after a nine-year partnership with the consortium of Soviet-born billionaires known as AAR.

Under the deal Rosneft will pay $27 billion (16 billion pounds) in cash and stock for BP's stake, giving the British company a share of around 20 percent in the state-owned oil giant.

3rd Quarter Results


· BP's third-quarter replacement cost (RC) profit was $4,687 million, compared with $5,276 million a year ago. After adjusting for a net loss from non-operating items of $321 million and net unfavourable fair value accounting effects of $162 million (both on a post-tax basis), underlying RC profit for the third quarter was $5,170 million, compared with $5,463 million for the same period last year. For the nine months, RC profit was $9,854 million, compared with $16,294 million a year ago. After adjusting for a net loss from non-operating items of $3,475 million and net unfavourable fair value accounting effects of $325 million (both on a post-tax basis), underlying RC profit for the nine months was $13,654 million, compared with $16,672 million for the same period last year. RC profit or loss for the group, underlying RC profit or loss and fair value accounting effects are non-GAAP measures and further information is provided on pages 4, 19 and 21.

· The group income statement included a net adverse impact relating to the Gulf of Mexico oil spill, on a pre-tax basis, of $59 million for the third quarter and $882 million for the nine months. All amounts relating to the Gulf of Mexico 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 23 - 28 and Legal proceedings on pages 32 - 40.

· Finance costs and net finance income or expense relating to pensions and other post-retirement benefits were $198 million for the third quarter, compared with $234 million for the same period last year. For the nine months, the respective amounts were $640 million and $722 million.

· Including the impact of the Gulf of Mexico oil spill, net cash provided by operating activities for the third quarter and nine months was $6.3 billion and $14.1 billion respectively, compared with $6.9 billion and $17.1 billion in the same periods of last year. Excluding amounts related to the Gulf of Mexico oil spill, net cash provided by operating activities for the third quarter and nine months was $6.4 billion and $17.1 billion respectively, compared with $7.8 billion and $22.8 billion for the same periods of last year. Reflecting our proposed transaction with Rosneft, we remain confident in delivering more than 50% growth in net cash provided by operating activities by 2014(d) assuming an oil price of $100 per barrel.

BP REPORTS STRONG THIRD QUARTER RESULTS,
RAISES DIVIDEND

• Underlying 3Q 2012 replacement cost profit $5.2 billion; a 40 per cent increase on previous quarter.

• Increases quarterly dividend by 12.5 per cent, to 9c a share, payable in 4Q 2012.

• On track for delivery of strategic 10-point plan to 2014.

• Plans to deliver long-term free cash flow growth; focusing and de-risking the portfolio and increasing investment in upstream.

Ex-divi 7th Nov 2012

Opened up 13.5p

it will easily rise to 470p, the levels it reached when Rosnaft agreement was announced last week.

The board is doing great job, IMO.

ahoj - the high was 459.35p

So close to getting in yesterday, I need one of your kicking arxe cartoons skinny. In this morn and holding long term @ 441.8.

No problem Chris :-)

Cheers mate :O)

470 was intraday high, not the closing price.

ahoj - where do you get your info?

The highest intraday or otherwise AT trade was 459.35 (trade 7926) on the 22nd.

ON the day, I was offered 468 to sell. I decided not to sell at the time!! clearly I did not expect the crash over last week.

Ex-divi today & the sp is up (marginally). Hope it holds.

you know what this mean. If it hold up, it will movve much higher in the next few days, and should not see these prices this year

OIL FUTURES: Nymex Crude Trims Losses on Obama Victory; Stocks Data Ahead

Skin, if you see this, perhaps you can help, seeing
that you seem to be able to dig up all sorts of images
and cartoons by snapping your fingers or chanting abracadabra!

Some years ago, there was a cartoon of Blair riding
piggyback on the back of Bush on the site over the road.
Perhaps, you are familiar with it! Here's another opportunity
to shout 'eureka'!

.

midknight - I can't find that one, but click on this picture - there are hundreds here and you may well find it.

Thanks, Skinny. The first one on page 3 must have made it
to the top shelves!!!
Haven't seen mine yet. It was made out like cinema poster.
Now starring...
Will keep looking. Thanks again.