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'm up @11% on purchases - some going back to November 2010.

I'll continue to hold short term on the potential supply cut - see the link on the Oil thread.

2+ year high @521.20p

StockMarketWire.com
BP's underlying replacement cost profit for fourth quarter was $400m, compared with $196m for the corresponding period in 2015 and $933m for the third quarter.

Compared to a year earlier, the quarter's result benefited from higher oil prices and significantly lower costs, offset by weaker refining margins and higher turnarounds in the Downstream.

The full year 2016 price environment was challenging: the average Brent oil price of $44 per barrel was the lowest for 12 years; Henry Hub gas marker prices averaged $2.46 per million British thermal units; and the refining marker margin was the lowest since 2010.

The headline reported result for the full year was a profit of $115 million, compared with the headline loss of $6.5bn reported for 2015.

The 2016 headline result included a total of $4bn non-operating charges taken through the year associated with resolution of the remaining legacy of the 2010 oil spill.

The headline profit excluding these legacy charges was $4.1bn for 2016, compared with $2.0bn for 2015.

Underlying operating cash flow4, excluding pre-tax Gulf of Mexico payments, was $17.8 billion for 2016, with $4.5 billion in the fourth quarter, compared with $20.3 billion in 2015.

BP's full year controllable cash costs5 were $7 billion lower than in 2014 - a target reached a year earlier than previously expected.

Organic capital expenditure for the year totalled $16 billion in 2016, compared with the range of $17-19 billion anticipated at the beginning of last year.

In total $7.1 billion in pre-tax payments related to the Gulf of Mexico oil spill were made through 2016, as processing of outstanding claims accelerated. Total divestment revenues were $3.2 billion in the year.

BP reported a reserves replacement ratio for 2016 of 109%8.

At year end, BP's gearing level was 26.8%, within the target range of 20-30%.

BP also announced an unchanged dividend for the quarter of 10c per ordinary share, expected to be paid in March 2017.

Group chief executive Bob Dudley said: "2016 was the year we made significant strides in creating a stronger platform for growth.
"We launched six major project start-ups - from Algeria to the Gulf of Mexico - and made final investment decisions on a further five major projects. And we see exciting opportunities ahead.
"We have delivered solid results in tough conditions - and are well prepared for any volatility in oil pricing. We have adapted by cutting our controllable cash costs by $7 billion from 2014 - a full year earlier than planned.
"Continued tight discipline on costs remains essential.
"Everything we have done during the year has made us a more resilient and competitive company.
"With our Deepwater Horizon financial liabilities now substantially behind us, BP is fully focused on the future.
"You have seen that focus in the string of strategic portfolio additions during the last two months of the year.
"From increasing gas interests and renewing long-term low-cost oil to expanding our retail operations - these investments will generate significant long term value for our shareholders.
"We start this year with considerable momentum - and a sense of disciplined ambition.
"We have laid the foundations for BP to be back to growth."

i'm not exactly convinced, but i can see good reason for buying at these depressed levels especially with a good divi supporting

Barclays summary today:
"The 4Q results and outlook for 2017 from BP are somewhat disappointing. Earnings of $400m fell close to 30% short of company-compiled consensus estimates and although there were positives to be taken from a strong upstream performance, this was more than offset by a weaker downstream and a seasonally higher corporate charge. At the same time reflecting additional capex associated with the acquisitions in December the break-even point to cover capex and dividends by the end of 2017 is increased to $60/bl from what had previously been $50-55/bl. Whilst we had recognized that there would be additional spending associated we had hoped that they could be offset by higher cost savings and efficiency gains elsewhere in the business; we would expect more guidance on the call as to how much value these acquisitions will actually add. There is much to commend the investment case for BP as we move into 2017. Eight new projects are due on-stream, and it is clear that the costs savings programme is yielding results. Yet with the signal of a higher break-even price and more details not likely to be available until the strategy update on February 28 and lower than anticipated near term earnings we expect the release to have negative implications for the share price near term. We rate the stock Overweight with a 625p price target."

BP yields 7% as shares hit two-month low - By Lee Wild | Tue, 7th February 2017 - 15:17

It's been a great year for BP (BP.), certainly in terms of share price performance. The business is now worth two-thirds more than it was, and last month came within a whisker of the 2014 high. Tuesday's fourth-quarter results were mixed, true, and a dip in oil prices has taken the edge off things, but there's nothing to panic about here yet and that yield cannot be ignored.

A lot of the headlines focus on the $999 million (£808 million) loss in 2016 and tiny $72 million replacement cost (RC) profit for the fourth quarter. However, things aren't that bad, and those numbers include inventory holdings of a negative $1.1 billion and $425 million, respectively.

The fatal Deepwater Horizon oil spill in the Gulf of Mexico almost seven years ago has now cost BP $62.6 billion, and it continues to stain results.

However, strip out $180 million of so-called "non-operating items" and net unfavourable fair value accounting effects of $148 million, and BP made $400 million in the last three months of 2016, twice as much as the year before. Adjust for almost $3.6 billion of charges for the 12 months and BP made $2.6 billion in 2016.

Some will be disappointed with that three-month profit, given consensus estimates were for around $560 million. A one-third decline in profit at Rosneft, of which BP owns just under 20%, to $158 million was blamed on "increased government take", things like royalties, corporate taxes and profit sharing paid to Putin's Russia. Analysts had wanted bigger profits here.

And, following numerous acquisitions, including the ADCO onshore oil concession and Zohr gas field, BP now expects spending in 2017 to be $16-$17 billion. Adjusting minimum spend up from $15 billion means breakeven increases from $55 a barrel to $60.

Underlying operating profit - before finance costs and tax - of $856 million was 27% below consensus estimates, according to Jon Rigby, an analyst at UBS. Again, Rosneft was $120 million light at $135 million, and the downstream business - refining - missed by over $200 million at $877 million. A $400 million profit at the upstream division - exploration - was almost three times more than anticipated, but failed to make up the shortfall.

Elsewhere, there was little change in production, with quarterly output at 3.338 million barrels of oil equivalent per day (mboe/d), slightly better than expected. However, Rosneft chipped in more than anticipated, and BP’s quarterly output actually fell by 5.5% year-on-year to 2.19mboe/d.

Still, BP expects full-year 2017 underlying production to be higher than 2016, and UBS looks for total production of over 3.5mboe/d, helping triple profits in 2017.

And, for income seekers, the dividend of 10 cents per share is welcome, although, despite costing BP $4.6 billion last year, the company is committed to maintaining the payout. At current exchange rates, the yield is 7%.

And BP shares trade on a relatively modest 13 times forward earnings, dropping to about 10.5 based on UBS forecasts for 2018 earnings per share (EPS) of 43 cents, up from 14 cent. That's cheaper than Royal Dutch Shell (RDSB) on 16.4 and 13.8 times, respectively.

For the record, UBS thinks BP shares are a 'buy' and worth 550p.

Lets hope that's an island reversal.

Exane BNP Paribas Outperform 453.93 - 560.00 Reiterates

Barclays Capital Overweight 453.93 625.00 625.00 Reiterates

Credit Suisse Outperform 456.18 530.00 510.00 Retains

KEEP an EYE

BP. 455p - 2p

Large retracement after results yesterday, but at today's lows it has reached a maximum Fibonacci retracement 78.6% and from that point is bouncing back

Insider: BP - By Lee Wild | Fri, 24th February 2017 - 12:03

(BP.) is having something of a wobble. Full-year results earlier this month failed to prevent further selling, which had begun a few weeks previously after the shares had risen two-thirds to a new multi-year high.

They're currently down around 15% from that peak and over 6% since the results to currently sit on the 200-day moving average. We said this month that there's "nothing to panic about" yet, and that remains the case.

Clearly non-executive director Nils Andersen is not put off. Spying a bargain and a prospective yield of 7%, he's just paid nearly £134,000 for 30,000 shares at 446p.

That acquisition comes a week before BP gives a strategy update in London, its first since March 2014.

"Investors want a clear performance and financial target framework. Historically, BP delivers this," says UBS analyst Jon Rigby. "The changes at 4Q16, raising 2017 capex and cash neutrality guidance negatively surprised and some reassurance over medium term objectives is required."

"The medium term framework needs to emphasise something more akin to a $50 a barrel neutrality figure at the bottom end of BP's previous target range. We do expect some reassurance that the creeping cost of Macondo is coming to an end."

BP TO SELL FORTIES PIPELINE SYSTEM TO INEOS

BP today announced it has agreed to sell its Forties Pipeline System (FPS) business, with assets including the main Forties offshore and onshore pipelines and other associated pipeline interests and facilities, to INEOS.

Subject to partner, regulatory and other third party approvals, operatorship of the FPS assets and business will transfer on completion from BP to INEOS. The sale will not affect BP's existing rights to capacity in FPS. Under the terms of the agreement INEOS will pay BP a consideration of up to $250 million for the business, comprising a cash payment of $125 million on completion and an earn-out arrangement over seven years that totals up to $125 million.

BP group chief executive Bob Dudley commented: "BP is returning to growth in the North Sea as we bring important new projects, including the Quad 204 redevelopment and Clair Ridge, into production and increase new exploration. While the Forties pipeline had great significance in BP's history, our business here is now centred around our major offshore interests west of Shetland and in the Central North Sea.

"The pipeline has long been an important feedstock supplier to INEOS at Grangemouth. We believe that through also owning FPS, INEOS will be able to realise greater integration benefits and help secure a competitive long-term future for this important piece of UK oil and gas infrastructure."

Built, owned and operated by BP, the Forties pipeline was opened in 1975 to transport oil from the Forties field, the UK's first major offshore oil field. Today FPS carries liquids production from some 85 fields in the Central and Northern North Sea and several Norwegian fields on behalf of around 40 companies. The system has a capacity of 575,000 barrels of oil a day. BP sold its interests in the Forties field to Apache in 2003 and sold the Grangemouth refinery and chemical plants to INEOS in 2005.

INEOS chairman and chief executive officer Jim Ratcliffe commented: "The North Sea continues to present new opportunities for INEOS. The Forties Pipeline System is a UK strategic asset and was originally designed to work together to feed the Grangemouth refinery and petrochemical facilities. We have a strong track record of acquiring non-core assets improving their efficiency and reliability, securing long term employment and investment. I am delighted that we can now bring this integrated system back under single ownership in INEOS."

Mark Thomas, BP North Sea Regional President said: "This allows us to further focus our North Sea business around our core offshore assets - bringing new fields into production, redeveloping and renewing existing producing facilities and acquiring and exploring new acreage and interests through licence rounds and farm-ins.

"As with our recent agreement with EnQuest, we believe this is a good example of having the 'right assets' in the 'right hands', offering new opportunities for the assets and benefitting the UKCS, in the spirit of the government's aim of maximising economic recovery of the UK's oil and gas resources."

FPS is expected to transition to INEOS as a fully operational entity with those staff who operate and support the various elements of the business expected to transfer with the business. Their contractual terms and conditions are protected under UK Transfer of Undertakings (Protection of Employment) regulations (TUPE).

Around 300 BP staff are currently associated with operating and supporting the FPS business at Kinneil, Falkirk, Dalmeny, Aberdeen and offshore. BP will now begin consultation with in-scope staff for both the unionised and non-unionised populations.

Subject to the receipt of regulatory and other third party approvals, BP aims to complete the sale and transfer of operatorship during 2017.

INEOS? Never heard of them.

Try this Stan
http://www.ineos.com/

Thanks Harry founded in 1998.

Same year as Rolls Royce was bought by BMW, Good Friday agreement was signed, Justin Fashanu was arrested in the US (and comitted suicide in UK), Eurovision song contest was held in Birmingham, DVD's were first released, Man U TV started, Pinochet was arrested, Peugeot 206 was launched, Frank Muir and Enoch Powell die......so a funny ol' year! Good and bad.

BP p.l.c. Group results First quarter 2017

Highlights
Robust earnings and cash flow, new projects on track.

· Underlying replacement cost profit* for the first quarter was $1.5 billion.
· First quarter operating cash flow, excluding payments related to the Gulf of Mexico oil spill*, of $4.4 billion. Including these payments, operating cash flow* was $2.1 billion.
· Dividend unchanged at 10 cents per share.
· Reported oil and gas production was 3.5mmboe/d in the first quarter, 5% higher than same period in 2016.
· New Upstream major projects* on track: Trinidad onshore compression project started up, another in ramp-up, and two more in commissioning.
· Downstream marketing growth and strong operational performance.
· $1.7 billion divestment of BP's interest in SECCO petrochemical joint venture, subject to regulatory approvals.

In disaster's wake, BP doubles down on deepwater despite surging shale

2Q17 Part 1 of 1

Highlights

Solid first half; strong operations, strong cash flow.

· Underlying replacement cost (RC) profit* for the second quarter was $0.7 billion.
· Second-quarter operating cash flow, excluding Gulf of Mexico oil spill payments*, was $6.9 billion. Including these payments, operating cash flow* for the quarter was $4.9 billion.
· Dividend unchanged at 10 cents per share.
· Second-quarter Upstream production was 10% higher than in the same period in 2016; first-half production was 6% higher.
· Upstream major projects on track; two new projects sanctioned in quarter; significant gas discoveries in Senegal and Trinidad announced; $753 million exploration write-off, predominantly in Angola.
· In Downstream, first-half fuels marketing earnings around 20% higher than in the first half of 2016.

more.....

Goldman Sachs Neutral 451.33 480.00 480.00 Reiterates

Looking a tad over bought, but £5 looming?

05 Oct Deutsche Bank Buy 487.28 520.00 520.00 Reiterates

03 Oct Barclays Capital Overweight 487.28 675.00 675.00 Reiterates