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?

2+ year high @520.70p.

On edit - 521.30p

Skinny, I like what I see - a share price growth.
Have held these for years and looking forward to lots more share repurchases and a growing share price especially if the dividends are maintained!
TT

Hi TT - its been a long wait, but finally worth it!

2nd Quarter Results

Second quarter and half year results 2014(a)

· BP's second-quarter replacement cost (RC) profit was $3,182 million, compared with $2,400 million a year ago. After adjusting for a net charge for non-operating items of $481 million and net favourable fair value accounting effects of $28 million (both on a post-tax basis), underlying RC profit for the second quarter 2014 was $3,635 million, compared with $2,712 million for the same period in 2013. For the half year, RC profit was $6,657 million, compared with $18,996 million a year ago which included a $12.5-billion gain relating to the disposal of our interest in TNK-BP. After adjusting for a net charge for non-operating items of $257 million and net favourable fair value accounting effects of $54 million (both on a post-tax basis), underlying RC profit for the half year was $6,860 million, compared with $6,927 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 3 and 31.

· All amounts relating to the Gulf of Mexico oil spill have been treated as non-operating items, with a net pre-tax charge of $260 million for the quarter and $299 million for the half year. For further information on the Gulf of Mexico oil spill and its consequences, including information on utilization of the Deepwater Horizon Oil Spill Trust fund, see page 10 and Note 2 on page 18. See also Principal risks and uncertainties on page 35 and Legal proceedings on page 42.

· Including the impact of the Gulf of Mexico oil spill, net cash provided by operating activities for the quarter and half year was $7.9 billion and $16.1 billion respectively, compared with $5.4 billion and $9.4 billion for the same periods in 2013. Excluding amounts related to the Gulf of Mexico oil spill, net cash provided by operating activities for the second quarter and half year was $7.6 billion and $16.5 billion respectively, compared with $5.2 billion and $9.5 billion respectively for the same periods in 2013.

· Net debt at 30 June 2014 was $24.4 billion, compared with $18.2 billion a year ago. The ratio of net debt to net debt plus equity at 30 June 2014 was 15.5%, compared with 12.3% a year ago. Net debt and the ratio of net debt to net debt plus equity are non-GAAP measures. See page 27 for more information.

· Total capital expenditure on an accruals basis for the second quarter was $5.6 billion, almost all of which was organic*. For the half year, total capital expenditure on an accruals basis was $11.7 billion, of which organic capital expenditure was $11.0 billion.

· In October 2013, BP announced plans to divest a further $10 billion of assets before the end of 2015, having completed its earlier divestment programme of $38 billion in 2012. BP has agreed around $3.4 billion of such further divestments to date. Disposal proceeds received in cash were $0.8 billion for the quarter and $1.8 billion for the half year.

· BP today announced a quarterly dividend of 9.75 cents per ordinary share ($0.585 per ADS), which is expected to be paid on 19 September 2014. The corresponding amount in sterling will be announced on 9 September 2014. See page 27 for further information.

Small long @486.62p

Citigroup Neutral 486.00 480.00 480.00 Reiterates

Deutsche Bank Hold 486.00 550.00 550.00 Reiterates

Jefferies International Buy 486.00 570.00 570.00 Reiterates

Barclays Capital Equal weight 486.00 600.00 600.00 Reiterates

Goldman Sachs Neutral 486.00 500.00 500.00 Reiterates

re - skinny - 29 Jul 2014 16:12 - 558 of 559
Small long @386.62p

Maybe in 2011 you could have, but not yesterday

There is a $50bn headache for the Russian and BP. could get "nothing" after Yukos's administration and Rosneft,
which is 75%-owned by the Russian state, purchased most of Yukos's assets.

The share price has been weak during the last month could be following the trend for a while before the Rosneft business is resolved

Halliburton pays $1.1bn to settle Gulf of Mexico suits

From the text :-

"The agreement, which includes legal fees, is likely to raise hackles amongst BP’s supporters, who feel that the British oil major is being punished too harshly for the disaster.

Earlier this year, BP raised its forecast for the amount of money it will have to pay out to compensate victims from $7.8bn to $9.1bn, and analysts expect it to rise further as up to 10,000 new claims are filed each month."

BP Found Grossly Negligent in 2010 Gulf of Mexico Spill ........Bloomberg

Hmmm :-(

Here's the link BP Found Grossly Negligent in 2010 Gulf of Mexico Spill

Overlooked - BP Signs Fresh Deal On Iraq Production Goals

Just had a SB @454.80p

Statement on Gulf of Mexico

BP strongly disagrees with the decision issued today by the United States District Court for the Eastern District of Louisiana and will immediately appeal to the United States Court of Appeals for the Fifth Circuit.

BP believes that the finding that it was grossly negligent with respect to the accident and that its activities at the Macondo well amounted to willful misconduct is not supported by the evidence at trial. The law is clear that proving gross negligence is a very high bar that was not met in this case. BP believes that an impartial view of the record does not support the erroneous conclusion reached by the District Court.

The Court has not yet ruled on the number of barrels spilled and no penalty has yet been determined. The District Court will hold additional proceedings, which are currently scheduled to begin in January 2015, to consider the application of statutory penalty factors in assessing a per-barrel Clean Water Act penalty. The Clean Water Act requires the District Court to consider a number of factors in determining an appropriate penalty. The statutory maximum penalty is $1,100 per barrel where the court finds simple negligence and $4,300 per barrel where the court finds gross negligence or willful misconduct. During the penalty proceedings, BP will seek to show that its conduct merits a penalty that is less than the applicable maximum after application of the statutory factors.

BP is reviewing the decision and will issue a further statement as soon as possible.

Skinny, you just don't know what will happen next with BP.
I can't believe that there will be a further massive fall after tomorrow's further "adjustment" once everyone else digests the ruling. Maybe you were a bit quick with the SB?
Personally as I have a chunk of these and reinvest all of my dividends I am looking for the court ruling to be overturned and it to be deemed simple negligence but, hey ho, who knows - we are dealing with the US Legal System and they love to show how big they are!

Yes - I was a bit rash.

BP closed down 5.9% in the US having been down 5.7% at our close.

I agree about the "simple negligence' outcome - but not until the lawyers et al have wrung as much money as possible from BP.

I also have a reasonable long term holding which was starting to look quite promising again!

The latest from Reuters - BP 'grossly negligent' in 2010 U.S. spill, fines could be $18 billion

Barclays Capital Equal weight 461.55 600.00 600.00 Reiterates

Jefferies International Buy 461.55 570.00 570.00 Reiterates

JP Morgan Cazenove Overweight 461.55 - - Reiterates

Liberum Capital Hold 457.48 500.00 500.00 Retains

Canaccord Genuity Buy 457.48 560.00 560.00 Reiterates

Investec Hold 457.48 460.00 440.00 Retains

BP can absorb new oil spill fine, analysts say


New fines could prompt BP to cut Russia exposure

Share Repurchase Programme

BP p.l.c. (the "Company") announces it has today entered into a repurchase mandate agreement with an independent third party to terminate and replace the repurchase mandate agreement entered into and announced on 31 July 2014.

Under the repurchase mandate agreement entered into today, the independent third party will manage the share repurchases for the remaining period of the replaced repurchase mandate agreement through to 12 September 2014.

The independent third party will make its trading decision in relation to the purchase of the Company's securities independently of, and uninfluenced by the Company. On the purchase, the Company's shares will be cancelled.

The purpose of the share buy-backs is to reduce the Company's issued share capital.

Any purchases will be effected within certain pre-set parameters and in accordance with the Company's general authority to repurchase shares granted by its shareholders at the Company's 2014 Annual General Meeting and Chapter 12 of the Listing Rules.

Closed +10.

UK government lends hand to BP in U.S. Gulf oil spill rulings

(Reuters) - The British government has urged the U.S. Supreme Court to review appeals court rulings against BP Plc (BP.L) over a 2010 Gulf of Mexico oil spill that produced one of the largest class actions in American history.

In a friend of court brief, the UK government said lower court rulings raise grave international concerns by undermining confidence in the "vigorous and fair resolution of disputes."

The filing said BP, which has "gone to great lengths to restore the Gulf Coast", was now being required to pay large sums to others who were not injured by the Deepwater Horizon oil spill.