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?

Share Repurchase Programme

BP p.l.c. (the "Company") announces it has today entered into a repurchase mandate agreement with an independent third party following the expiry of the repurchase mandate agreement previously entered into and announced in respect of the period of 29 September 2014 to 28 October 2014.

Under the repurchase mandate agreement entered into today, the independent third party will manage the share repurchases for the period of 29 October 2014 to 7 November 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 purchase, the Company's shares will be cancelled.

The purpose of the share repurchases 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.

Deutsche Bank Buy 405.95 405.95 500.00 480.00 Upgrades

BP presents Upstream strategy to investors

BP is set to lose hundreds of millions of dollars in earnings and dividend income from Rosneft, Russia’s state-owned oil company, as a result of the plunge in crude prices and financial turmoil that has sent the rouble tumbling. Analysts are predicting that the 47% slide in the rouble over the past three months will lead to a sizeable fourth-quarter loss for BP on its Rosneft stake. They expect that loss to be as much as $750 mln, the first of its kind in Russia for the UK energy major – FT.

From yesterday :- U.S. judge rules that BP spill smaller than feared

The RNS for yesterday's news :- BP statement on Phase 2 decision in Gulf oil spill trial

Today the United States District Court for the Eastern District of Louisiana ruled on the issues raised in the Phase 2 trial of the Deepwater Horizon case: the quantification of oil spilled and BP's source control efforts following the accident. The Court found that 3.19 million barrels of oil were discharged into the Gulf of Mexico and therefore subject to a Clean Water Act (CWA) penalty. In addition, the Court found that BP was not grossly negligent in its source control efforts.

No penalty has yet been determined. The decisions in the Phase 1 and Phase 2 trials represent steps in the process of assessing a CWA penalty. The third phase of the CWA trial, currently scheduled to begin in the Court on Tuesday, 20 January, 2015, will address the penalty to be assessed.

During the penalty proceedings, the Court is required to consider the application of eight statutory factors, including the violator's efforts to minimize or mitigate the effects of the spill: the seriousness of the violation or violations; the nature, extent, and degree of success of any efforts of the violator to minimize or mitigate the effects of the discharge; the economic impact of the penalty on the violator; the economic benefit to the violator, if any, resulting from the violation; the degree of culpability involved; any other penalty for the same incident; any history of certain types of prior violations; and any other matters as justice may require. BP believes that considering all the statutory penalty factors together weighs in favor of a penalty at the lower end of the statutory range.

BP is continuing to review the Court's decision.


- ENDS -

https://www.youtube.com/watch?v=UJbGut20FRI

Barclays Capital Overweight 419.68 432.95 550.00 550.00 Reiterates

Final Results

BP beats expectations on surprise Russian profit, stock jumps

(Reuters) - Oil major BP (BP.L) beat expectations for the fourth quarter of 2014 thanks to a surprise profit from its stake in Russian oil giant Rosneft (ROSN.MM) while taking a $3.6 billion (£2.4 billion) impairment charge and cutting spending due to low oil prices.

The firm reported underlying replacement cost profit at $2.2 billion versus expectations of $1.5 billion. BP's stock jumped over 5 percent at the opening, outperforming the broader European oil and gas sector .SXEP.

The outperformance was due to an unexpected profit of $470 million from Rosneft which has been hit hard by Western sanctions over Moscow's role in Ukraine as well as the falling oil prices.

BP, which holds a 19.75 percent stake in Rosneft, said the figures were based on provisional numbers and could change.

BP loses bid to cut maximum $13.7 billion Gulf spill fine

(Reuters) - A U.S. judge on Thursday rejected BP Plc's (BP.L) attempt to reduce the maximum civil fine it could face for its role in the 2010 Gulf of Mexico oil spill, leaving it potentially liable to pay $13.7 billion (9 billion pounds) under the federal Clean Water Act.

U.S. District Judge Carl Barbier in New Orleans agreed with the federal government that the maximum civil penalty that BP could face is $4,300 per barrel spilled.

BP had sought a $3,000 per barrel maximum, equal to a maximum $9.57 billion civil fine. Barbier has not decided how much BP should pay, and it is unclear when he will.

StockMarketWire.com
BP has signed the final agreements of the West Nile Delta project to develop 5 trillion cubic feet (tcf) of gas resources and 55 million barrels (mmbbls) of condensates with an estimated investment of around $12bn by BP and its partner.

The project underlines BP's commitment to the Egyptian market and is a vote of confidence in Egypt's investment climate and economic potential. Production from WND is expected to reach up to 1.2 billion cubic feet a day (bcf/d), equivalent to about 25 per cent of Egypt's current gas production and significantly contribute to increasing the supply of energy in Egypt.

All the produced gas will be fed into the country's national gas grid, helping to meet the anticipated growth in local demand for energy. Production is expected to start in 2017. BP group chief executive Bob Dudley said: "BP is proud of its record in Egypt over the past 50 years and we are looking forward to many more years in the country. The WND project investment is the largest foreign direct investment in Egypt, and demonstrates our continued confidence in Egypt and our commitment to unlock its energy potential. WND production is key to Egypt's energy security." Gas will be produced from two BP-operated offshore concession blocks, North Alexandria and West Mediterranean Deepwater. BP believes that there is the potential through future exploration to add a further 5-7 tcf which could boost WND production with additional investments.

BP signs $12 billion energy deal in Egypt

Five years after BP oil spill, some Gulf oystermen are losing hope

BP first quarter 2015 results

· Underlying replacement cost profit 20% down on year earlier, 15% higher than previous quarter

· Focus on rebalancing BP - resetting capital expenditure, managing cost, delivering divestments

BP. 1Q15 Part 1 of 1

The Reuters take :- BP profits soar on strong refining

Today's guesses :-

Investec Hold 470.60 420.00 435.00 Reiterates

Barclays Capital Overweight 470.60 560.00 560.00 Reiterates

Canaccord Genuity Hold 470.60 415.00 415.00 Reiterates

Credit Suisse Underperform 470.60 420.00 420.00 Reiterates

Deutsche Bank Buy 470.60 470.00 470.00 Reiterates

JP Morgan Cazenove Underweight 470.60 - - Reiterates

BP to settle U.S. Gulf of Mexico oil spill claims - Bloomberg

And the RNS - BP - US agreement

Analysis - Spill settlement closure leaves BP open to growth, takeover

Insight - With options dwindling, BP seized a chance to settle oil spill case