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?

I hope so Harry - I added on news of the announcement yesterday.

UBS has retained its BUY and TP @500p

Credit Suisse retains it's Outperform TP 490p

i haven't really followed this latest bit in depth, but it does seem to me that BP have still not got to the bottom of the pit - i.e. there are plenty more massive claims to be lodged

BP doubles gas estimate at Savonette field in Trinidad and Tobago

PORT OF SPAIN | Mon Nov 19, 2012 9:45pm GMT

(Reuters) - BP Trinidad and Tobago (BPTT) has discovered an estimated 1 trillion cubic feet (tcf) of gas in its Savonette field off the east coast of the Caribbean country, doubling the estimated gas in the offshore gas field, the company announced on Monday.

Based on the success of the Savonette 4 well, BPTT, the largest hydrocarbons producer in Trinidad and Tobago, may drill two more development wells in the Savonette reservoirs, a company official said.

"This is exciting news for both BPTT and the industry since this represents the largest discovery for BPTT since 2005," said BPTT's President Norman Christie.

Good news combined with share buy back at such low prices should help recovery.. IMO

BP TO SELL PACKAGE OF CENTRAL NORTH SEA
ASSETS TO TAQA FOR $1.1 BILLION

BP announced today that it has agreed to sell its interests in a number of central North Sea oil and gas fields to TAQA for $1.058 billion plus future payments which, dependent on oil price and production, BP currently expects will exceed $250 million. The assets included in the sale are BP's interests in the BP-operated Maclure, Harding and Devenick fields and non-operated interests in the Brae complex of fields and the Braemar field.

The sale is subject to third party and regulatory approvals and the companies currently expect the sale to complete in 2Q 2013.

BP Temporarily Suspended From New Contracts With U.S.

BP Plc (BP/), which pleaded guilty to criminal charges after the worst U.S. oil spill in 2010, will be temporarily suspended from winning new contracts from the federal government, the U.S. Environmental Protection Agency said in a statement today.

The EPA said the ban was imposed because the company’s conduct during the Deepwater Horizon disaster showed a lack of integrity. The action, which doesn’t affect existing contracts, will stand until BP can demonstrate it meets business standards set by the government, the EPA said.

Surprised to see BP hesitating to join the crowd.

BP completes sale of Gulf of Mexico assets to PXP

HOUSTON - BP has completed its sale of a number of oil and gas fields in the deepwater US Gulf of Mexico to Plains Exploration & Production Company ('PXP').

As announced on 10 September, BP agreed to sell the fields to PXP for $5.55 billion in cash subject to customary post-closing adjustments, with an effective date of October 1, 2012. The deal, which included BP's interests in three BP-operated assets and in two non-operated assets, was among the biggest transactions in the US Gulf of Mexico.

That’s enough, says BP chief, and cuts give way to spending

Published at 12:01AM, December 4 2012
Bob Dudley has called a halt to the sell-offs that have cut BP down in size in the wake of the Gulf of Mexico oil spill and outlined a “simpler”, less risky future for the company.

The oil major is already close to meeting its target of raising $38 billion from asset sales by the end of 2013 as part of its “shrink to grow” strategy imposed after the disaster.

For fellow sufferers holders - Q3 2012 Payments of Dividend in Sterling

5.5890 pence per share.

Does that relate to the ex-divi from 5th Nov?

If you mean the 7th, then yes - it's in the link :-)

Cheers. Trying to catch up on all the back info, so possibly not being as diligent as I should be.
Was hoping for a slow climb from BP. while I was away as I though that most of their troubles were behind them, even if they are going to be out of favour with the americans for a while. Trying to second guess this market atm is a bit of a lottery!

So your back in dear old blighty then!

For me, its been an odd year for trading, although as of Friday, I had managed to get my SIPP to an all time high - especially satisfying as I haven't paid into it for 12 years.

Yes, back home and coming to terms with a 30 deg temperature drop!
Fortunately my stock ISA is doing much better than my dealing account, as it contains mostly defensive stocks. Not sure that I will owe the tax man much at the end of this tax year!

Tax - yes I remember that! :-)

BP To Sell Yacheng Gas Field In China To KUFPEC
BP today announced that it has agreed the sale of its 34.3 per cent interest in the Yacheng gas field in the South China Sea to Kuwait Foreign Petroleum Exploration Company (KUFPEC) for $308 million cash. Subject to regulatory, CNOOC and third party approvals, BP expects the deal to close in the second half of 2013.

"This sale is part of BP's ongoing global portfolio optimization," said Chen Liming, President of BP China. "BP remains committed to working with China to contribute its deep expertise and oil and gas supply options in this important emerging market." The sale takes BP's total divestments announced since 2010 to $37.8 billion.

Commercial production at Yacheng started in 1996. BP operated the field until 1 January, 2004, when it handed operatorship to its major project partner CNOOC.

The field currently supplies natural gas for power generation to Castle Peak Company Limited in Hong Kong via a 780-kilometre pipeline. Additional natural gas, condensate and LPG are sold to customers on Hainan Island.

Gulf Oil Sheen At BP's Deepwater Horizon Rig Disaster Site Remains A Mystery

Posted: 12/18/2012 5:36 pm EST | Updated: 12/19/2012 4:03 am EST

NEW ORLEANS (AP) — Underwater inspections at the site of BP's Deepwater Horizon rig disaster have failed to identify the source of a persistent sheen on the surface of the Gulf of Mexico, officials said Tuesday.

The Coast Guard and BP both said the recent inspections confirmed that the company's Macondo well, which blew out in April 2010 and spawned the nation's worst offshore oil spill, remains secure and isn't leaking oil. Relief wells that were drilled in 2010 to stop the gusher also were found to be secure during the four-day survey, BP said.

BP BEGINS PRODUCTION FROM SKARV FIELD, NORWAY

BP and partners today announced the successful start of production from the Skarv field in the Norwegian Sea, one of a series of new major upstream projects that BP brought into production in 2012. Production started on 31 December, 2012.

"The start-up of Skarv is a key operational milestone for BP, adding new production from one of our core higher-margin areas," said Bob Dudley, BP group chief executive.

The Skarv field is approximately 210 kilometres west of the Norwegian coast in water depths of approximately 350-450 metres. Discovered in 1998, the field has an estimated ultimate recovery of around 100 million barrels of oil and condensate and over 1.5 trillion cubic feet of rich gas.