The oil rig disaster in the Gulf of Mexico has damaged BP's reputation will they manage to avoid a share collapse to 350p.?



472p to buy this morning.

So Cynic are you saying the US will allow BP to drill new well in same location

BP shares steady

Shares in BP remained steady in early trading despite the overnight news that a US Congressional Committee has agreed measures that would ban the company from new offshore drilling for seven years.

The proposed measure would cover all companies that have had 10 or more deaths in the last seven years.

The explosion in April at BP's Deepwater Horizon rig in the Gulf of Mexico killed 11 workers.

Cynic...BP has broken vital health-and-safety rules 54 times over the past five years in the UKAs a result H and S has served BP companies with 21 legal enforcement notices since 2006...blame to my knowledge has yet to be determined in the Gulfbut it dont look good on their past recordI think BP have nothing to negotiate withthey will get told to get the fcuk outand pay for the devastationthats my takeFWIW

MRSI's post has rather more validity and throws an interesting slant .... early political manoeuvring afoot

BP will be told licence revoked, fuck off, and pay for all clean up plus very large fine.

all will be revealed in due course ..... meanwhile, sp is steady to better ..... $37.07 at london close

watch those bears run like crazy in the morning - yippee!! .....

Shares of BP jumped Thursday after the company stopped the flow of oil from the ruptured well in the Gulf of Mexico for the first time since April.
U.S. listed shares of BP jumped $2.74, or 7.6%, to $38.92

BP says no oil is currently leaking into the Gulf of Mexico for the first time since April after an integrity test stemmed the flow.

Oil leak stopped

15 July 2010 Last updated at 21:51
BP says oil has stopped leaking

BP says it has temporarily stopped oil flowing into the Gulf of Mexico from its leaking well.

It is the first time the flow has stopped since an explosion on the Deepwater Horizon rig on 20 April.

The well has been sealed with a cap as part of a test of its integrity that could last up to 48 hours.

BP executive Kent Wells said the oil had been stopped at 1425 local time (1925 GMT) and he was "excited" by the progress.

"It is very good to see no oil go into the Gulf of Mexico," said Mr Wells............

BBC news

Wow ee Clubby in @ 340 50,000 hope for 430 / 450 Friday I had to laugh at guys posting on LSE who say they are going to buy at 8am in the morning there will be none for sale well not at 401

No more oil flows into the gulf....thank god for that.....

Testing not finished yet, it could still fall to pieces. I hope it doesn't!

Got in at 4.08 yesterday..not the best entry time but hopefully the test will go ok and the sp react accordingly.

sold half at 424.95 .... shall now watch for a while

not the rise that some would expect... must admit, thought it would jump more on the news. Chav might have to wait awhile.,.

Clubby well happy today. Not even those thieving/ lying bastards at Goldman S can upset me today.

Hopefully it will move up over the course of the day once the profits have been taken....Yanks closed 8% up last night so shall have to see what they do this Afternoon.

that was after hours and thus after the news, so would imagine already built in ..... the rise equated to about 15p in london this morning

Doing business as usual ...........

BP takes over Verenium's cellulosic biofuels business

BP Biofuels North America is taking over Verenium's cellulosic biofuels business - including its facilities in Jennings and San Diego - for $98.3m.

Verenium will retain its commercial enzyme business including its biofuels enzymes products and the right to develop the business, including for applications in the biofuels segment.

BP Biofuels chief executive Philip New said: "This acquisition demonstrates BP's intent to be a leader in the cellulosic biofuels industry in the US and positions us as one of the few global companies with an integrated end-to-end capability, from R&D through commercialisation to distribution and blending."

FTSE may drag it down a bit today, and of course it is the dreaded Friday. Bin Laden and his boys could strike over the weekend.