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?

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.

4th Qtr Results 05th Feb.

Ex div 13th Feb.

28th Mar payment.

Is a bid coming?

Certainly picked up in the last hour or so.

Many have shorted this from 440-445, when it agreed to increase its holding in Rosneft

Transocean to pay $1.4 bln for role in BP spill - source

WASHINGTON | Thu Jan 3, 2013 11:50am EST

Jan 3 (Reuters) - Transocean Ltd has agreed to pay $1.4 billion to settle U.S. government charges arising from the massive 2010 BP Plc oil spill in the Gulf of Mexico, a source familiar with the matter said on Thursday.

The settlement includes $1 billion in civil penalties and $400 million in criminal penalties, under terms scheduled to be announced later on Thursday, the source said

BP spokesman Geoff Morrell:

"Today's settlement between Transocean and the United States underscores what every official investigation has found: that the Deepwater Horizon accident resulted from multiple causes, involving multiple parties. In settling, Transocean has acknowledged that it played a significant role and has responsibility for the accident. Transocean is finally starting, more than two-and-a-half years after the accident, to do its part for the Gulf Coast. Unfortunately, Halliburton continues to deny its significant role in the accident, including its failure to adequately cement and monitor the well."

sp rising is this a breakout or another false dawn?

This is the link from which the posting above was copied.

God bless the US of A!

Transocean's $1.4 billion settlement of Clean Water Act, safety violations prompts comments from public officials, environmental groups

How far can it go, Skinny? Your target?

Sold one third earlier,446. Big mistake, but typical.

our target sp is 500p, subject to a favourable court settlement.

Looking at a 3 year chart, I'm hoping for £5+, but would be happy to get a fiver.

Presumably every other trader in market is going to be thinking the same, so 500p is going to be self fulfilling as an exit point.

StockMarketWire.com
Alphavalue cuts BP to Sell from Reduce, tgt 388p

Well they are off of my Christmas card list!

skin no problem it means they want to buy ...... tree shake!

Well said Halifax. Recovery for BP has not started yet.

A bit crude but....