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?

Sell this to 350p.

Sell this to 350p.

,,,,,bp claiming some success in containing leak - l dont beleve a single word . l am watching a feed on dutch tv and oil is still spewing out ! But this is by no means the first,the second, nor the third time BP have caused a shitty mess.The mess they left in the north sea was scandelous !! They are masters of duplicity and as rotton and corrupt as is possible for a PLC to be. But this time they have crossed the rubicon/ the political/economic ramifications are horrorfying for UK. PLC ....and all the bastards care about is reassuring institutions they will maintain their div. payments ... Upon which planet are these people living ? .......lts always the effing $$ ...always ....Testimony is now emerging,and on official record, that this environmental tragedy, which is sadly, but deliberately, being underplayed by the brit media machine,could have been avoided a full three weeks before the well exploded causing both loss of life and a goliath sized ecological disaster-the size of which is beyond human comprehension .Dont these bastards ever learn ? The well had been in big trouble for weeks. While insurers burn the midnight oil in search of tangible evidence in order to avoid coughing out billions of sponds ,that muppit like Obama will be forced to provide the rope to let BP hang themselves . For once i agree with Mitzy.Let them sink . Short this monolith into oblivion ............l wouldnt buy them at any price ....let rome in tiber melt and the wide arches of the empire fall ................ .......

A classic reply from TFC .... I thought he was going to quote " As I look ahead, I am filled with foreboding; like the Roman, I seem to see "the River Tiber foaming with much oil."

he is just another shorter,nobody should be fooled by his verbal diaroeah.

Are you long then Halifax ? going short is just another investment tool to make money .

aldwick as most impartial observers of this disaster have opined BP is not about to go bust,the true extent of the damage done to the environment and the cost of clearing it up will not be fully known for perhaps years.BP needs the US and the US needs BP, lessons will be learned and life goes on in the oil producing business. Once the leaking oil well is capped the media will move on to the next "disaster story" and pressure on BP will subside. We are not long or short at present but watching the situation, in the short term there may be some downside which could result in a buying opportunity.

interesting spelling in yorkshire young hali!
fyi, talking to one of the big oilies over here today, he too reckoned this was a disaster that could not reasonably be foreseen, nor the "cure" to be readily to hand

meanwhile, i am venal enough to (try to) make money on the short tack!

lm not getting into a personal slinging match with you halifax; but i am currently neither short,long or come to that,holding any position in bp -my own short has come and gone and funds banked so the axe i grind is not of a fiscal nature ../ ..the main tenet of my argument was that this ecological disaster could perhaps have been avoided if procedure had been observed. ,,,,,try reading evidence already before the house of reps judiciary commitee before you make your typical banal comments -or Woods and Mckenzies extensive analysis of bp's previous numerous cock ups ...

frenchie it is too early to point the finger at BP alone. In time after a comprehensive investigation has been carried out no doubt a share of the blame will be apportioned to them. However as our interest is in finding investment opportunities not in trying to bring down large corporations your biased comments are really not constructive as far as we are concerned.

i don't really agree with either of you .... to my mind, it is a great malaise of current society that we feel obliged to apportion blame to someone, even if it is something that could not be reasonably foresee - as in this instance, i personally believe was the case

British Pete a British company doing rather well over there..

Update on Gulf of Mexico Oil response.

The lower marine riser package (LMRP) containment cap, installed on June 3, continues to collect oil and gas flowing from the well and transport them to the Discoverer Enterprise drillship on the surface. On June 5, a total of 10,500 barrels of oil was collected and 22 million standard cubic feet of natural gas was flared. From June 3 through June 5, the volume of oil collected was 16,600 barrels and 32.7 million standard cubic feet of natural gas was flared.

Optimization continues and improvement in oil collection is expected over the next several days. It will be a few days before an assessment can be made as to the success of this containment effort.

This is a complex operation, involving risks and uncertainties, being carried out 5,000 feet under water. The LMRP containment cap never before has been deployed at these depths and conditions, and its efficiency and ability to contain the oil and gas cannot be assured.

The volume of oil captured and gas flared is being updated daily on BP's website, www.bp.com

BP: Gulf Oil Spill Costs Reach $1.25 Billion; Cap Effort Continues
By Jeffrey Sparshott
Of DOW JONES NEWSWIRES

LONDON (Dow Jones)

BP PLC (BP) Monday said the cost of its response to the Gulf of Mexico oil spill had reached $1.25 billion as it continued its attempts to contain leaking crude.

BP last week placed a containment cap on its ruptured oil well. From Thursday to Sunday, 16,600 barrels of oil had been collected, the company said.

"Optimization continues and improvement in oil collection is expected over the next several days. It will be a few days before an assessment can be made as to the success of this containment effort," BP said in a statement.

Scientists led by the U.S. Geological Survey have estimated 12,000 to 19,000 barrels of oil a day, at a minimum, were gushing into the Gulf from the well.

The cap is the latest in a series of procedures attempted by BP to contain the leak sprung by the explosion and sinking of the Transocean Ltd. (RIG) drilling rig Deepwater Horizon, which BP was leasing. The April accident killed 11 workers.

BP said it was too early to quantify costs and liabilities associated with the incident.

The $1.25 billion figure excludes $360 million for a Louisiana barrier islands construction project, BP said.

AT A GLANCE: BP Captures More Oil, Spill Consequences Grow

LONDON (Dow Jones)

BP PLC (BP) has reported some success in capturing oil leaking from the Macondo well in the Gulf of Mexico, but the cost continues to escalate and political pressure mounts on all sides for the embattled company.

CONTAINMENT: BP said Monday that on June 5 the cap it has attached to the top of the leaking well captured 10,500 barrels of oil out of an estimated 12,000-19,000 barrels a day gushing from the wellhead. Analysts hailed this as a long overdue success for the embattled company. "At last BP is able to show some progress on tackling the leak and this will put it in a less damaged position in tackling the political pressure which still remains a threat," said NCB Stockbrokers analyst Peter Hutton, who upgraded BP to hold from reduce on the news.

CLEANUP: More than 2,600 vessels, 2.2 million feet of containment boom and 2.4 million feet of sorbent boom have been deployed in the response effort. Approximately 368,000 barrels of oily liquid have been skimmed from the surface.

The containment success was providing little comfort to people already affected by oil contamination. In the resort of Gulf Shores, Ala., local officials lamented a flood of vacation cancellations and what they see as a second-rate clean-up operation since tar balls began hitting the white sands over the weekend.

Some claims may be exagerated (News report), with small fishermen making more via a claim than they did before the leak. Claims should only be as a % of the declared returns to their US inland revenue....BP better watch it!
From what I read, the Chairman is a liability and should be put out to grass (without compensation, please) before he really annoys everyone.
Will BP recover?, Sure, but I'm not really convinced this will stem the drift in sp - but it might. It all hangs on the dividend and how (if paid) the Americans respond. BP maybe has to ask the American public to vote for their dividend, (ie separately from other shareholders, and then at the agm we vote the same ), putting maybe 10% into an environmental fund that pays for research, etc.
I still hold a few, bought a tad lower than recently.

BP suffers $1bn setback in Siberia

The political storm engulfing BP intensified yesterday as the group came under renewed pressure on its Russian front.

Gazprom, the Kremlin-controlled gas monopoly, has raised new questions over the future of a giant gasfield in Siberia controlled by the British groups Russian joint venture TNK-BP.

As at least two international brokerages cut their recommendations on BP to neutral, citing spiralling costs from the Gulf of Mexico oil spill and a potential cut to the dividend, Gazprom piled on the pressure by ending hopes that it might buy Kovytka from TNK-BP for up to $1 billion.

CEO put under police protection

Police protection for family of BP boss Tony Hayward

Police have launched an operation to protect the family of Tony Hayward, BP's British boss, after they received hate mail and threatening phone calls.

By Alex Spillius in Washington
Published: 6:31PM BST 07 Jun 2010


Tony Hayward, BP chief executive, said he would not resign Photo: PA The chief executive's wife Maureen said the material had made her and her two children feel "rather uncomfortable" at their home in Kent.

The family has been targeted amid growing hostility to the firm in the United States for the spill that has so far leaked about one million barrels of oil into the Gulf of Mexico.

First Interim Dividend for 2010


TIDMBP.

RNS Number : 2283N
BP PLC
08 June 2010

?
8 June 2010
BP PLC
FIRST INTERIM DIVIDEND FOR 2010
PAYMENT OF DIVIDENDS IN STERLING
On 27 April 2010, the Directors of BP plc announced a first quarter interim
dividend for 2010 of US$0.14 per ordinary share (US$0.84 per ADS). The dividend
is to be paid on 21 June 2010 to holders of record on 7 May 2010.
The dividend is payable to holders of ordinary shares in cash in sterling or in
new ordinary shares to those who have elected to participate in the scrip
dividend programme. Sterling dividends payable in cash will be converted from
US dollars at an average of the market exchange rate over the four dealing days
from 2 June 2010 to 7 June 2010 (GBP1 = US$1.46492). Accordingly, the amount of
sterling dividend payable in cash on 21 June 2010 will be:
9.5568 pence per share.
As previously announced, the dividend payable to holders of American Depositary
Shares ('ADSs'), each of which represents six ordinary shares, will be US$0.84
per ADS. The dividend will be paid to holders of ADSs in cash in US dollars or
in new ADSs to those who have elected to participate in the scrip dividend
programme.
Details of the scrip dividend programme are available on the BP plc website at
www.bp.com/scrip.
David Pearl
Deputy Company Secretary