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?

351 and look at the buying, I am in at this price used the childrens uni fund

Can you put a chart up onto the header please.

In my Dreams hey .............. whatever, be below 3 come month end if not sooner - This is the start of the Double Dip for all shares. We are going to be in for a long Winter and only the strongest Companies will emerge the other side of this Depression. Looks like the Kids wont be going to Uni either there Clubman, good luck but personally think your crazy. This slides only just begun.

depends where you went short, but if only this morning, then you must be very singed indeed

AT A GLANCE: BP Shares Slump On Political Oil Spill Attacks
LONDON (Dow Jones)

Oil continues to flow into the Gulf of Mexico from BP PLC's (BP) Macondo well, affecting hundreds of miles of coastal beaches and marshes in Louisiana and Alabama. The spill was triggered by an explosion on April 20 that destroyed the Transocean Ltd. (RIG) drilling platform Deepwater Horizon, killing 11 crew members. BP has been scrambling to cap the well and contain the spill since.

COST AND CONSEQUENCES: BP shares suffered their worst collapse yet late Wednesday as the Obama administration ramped up its attacks on the company.

News that the White House wants BP to pay wages to any workers laid off as a result of the offshore drilling moratorium and that the Justice Department could take action against the company if it pays dividends saw BP close down almost 16% in New York. It opened 11% lower in London Thursday.

Its shares are trading at their lowest level for 13 years and almost GBP58 billion ($84 billion) has been wiped off its market value since the start of the disaster.

BP said Thursday that the scale of the collapse in its share price is not justified and reiterated that it has the financial strength to meet all costs related to the oil spill. It has spent $1.43 billion so far on the containment and cleanup operation, although most analysts expect the eventual price tag to be far higher.

Spooked traders drove BP credit default swaps to junk levels, according to Markit.

CONTAINMENT: BP is collecting around 15,000 barrels a day of oil through the cap it has attached to the leaking well. That figure is expected to increase as a second storage tanker arrives on the scene in the next few days.

Live video feeds show oil still gushing from the well head, stoking speculation that the spill may be higher than the 25,000 barrel-a-day top-end estimate from U.S. authorities.

CLEANUP: Oil continues to wash ashore on beaches and marshes in Louisiana and Alabama.

A research team said Tuesday it had found evidence of dead zones being drained of oxygen by huge plumes of oil many miles from the wellhead deep in the Gulf of Mexico. The study also revealed levels of methane gas dissolved in deep seawater that were between 100 times and 10,000 times higher than normally found in Gulf waters. Such unusually high levels of methane may be spurring the growth of microbes that, in turn, deplete the oxygen on which fish and other marine organisms depend.

BP's Chief Operating Officer, Doug Suttles, disputed these findings on NBC's "Today" program Wednesday, saying only "very minute quantities" of oil has been found under the Gulf waters.

WHAT'S NEXT: Analysts say a cut in the BP dividend is increasingly likely for political rather than financial reasons. Given the damage that current fear and speculation is doing to BP's share price, Morgan Stanley said the company's board should not wait to the second quarter results announcement on July 27 to make its position on the dividend clear.

-By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317; james.herron@dowjones.com

BP confirmed as buy at major brokers: BA-Merrill Lynch cuts target to 575p from 700p. Citigroup target cut to 590p from 730p. Reiterated overweight at JP Morgan. Also at Morgan Stanley, where target remains 600p.

I wonder if BP's "Live feed" isn't part of the problem? - this allows folk to worry about something they know little about.
=There are natural leaks and then there are man-made ones, I suspect this lies somewhere between the two, since no oil co wants to lose the oil they have invested much time/effort in discovery. In time it will be capped and America can return to being the greatest user of energy-per-capita, safe in the knowledge this field will provide for quite a long time yet.

I suspect (but don't know) that this should drive home to folk that they can't have oil without risk.

Interesting that City Brokers still have a significantly higher sp in mind. The panic today shows how careful Politicians need to be when there is a media-driven Public at large.

I hate those septics look what they are doing to BP again

Bristow Updates Impact From Gulf Drilling Moratorium
DOW JONES NEWSWIRES

Bristow Group Inc. (BRS) expects the deepwater-drilling moratorium in the Gulf of Mexico to result in revenue from that region dropping as much as 85% by the end of the month, though the area contributed just 6% of the helicopter-transport company's $182 million of operating income in its past fiscal year.

President and Chief Executive William Chiles said the helicopter-transport service company said customers won't be needing seven of its nine helicopters that are affected by the 180-day moratorium. The helicopters currently generate about $3.8 million in monthly revenue and $600,000 in monthly operating earnings.

Bristow, which provides helicopter-transport services to offshore oil and gas drillers, has benefited from the boom in offshore drilling worldwide. It has been adding larger aircraft that can serve bigger projects in deeper water.

The company said Thursday it is seeking to redeploy the aircraft to other customers and said some of the decline may be offset by increased work for BP PLC (BP). The oil giant is expected to see billions in clean-up and other costs from an April 20 explosion aboard the Transocean Ltd. (RIG) drilling rig Deepwater Horizon killed 11 men and triggered the massive oil spill.

Bristow currently has seven aircraft supporting BP's spill efforts in the Gulf, which are expected to generate $3.9 million in monthly revenue and $700,000 in operating income over the next several months.

Shorters are thrashing BP
I am sure the septics will short target BA soon

Cameron should pull our troops out of rag head land and leave the septics on their own.

No news too small :-))

Director/PDMR Shareholding


TIDMBP.

RNS Number : 4230N
BP PLC
10 June 2010

?
BP p.l.c. was advised on 10 June 2010 by Computershare Plan Managers that on 10
June 2010 the following Directors and senior executives (all persons discharging
managerial responsibilities in BP p.l.c.) acquired in London the number of BP
ordinary shares (ISIN number GB0007980591) shown opposite their names below at
GBP3.9155 per share through participation in the BP Sharematch UK Plan:-
Directors

Dr A.B. Hayward 83 shares
Mr I.C. Conn 83 shares

Other Persons Discharging Managerial Responsibilities

Mr R. Bondy 80 shares
Mr S. Westwell 80 shares

This notice is given in fulfilment of the obligation under DTR3.1.4(1)(a)R.

God forbid BP should go bust, but I for one would jump with joy that the septics get nothing, and would have to pay for the disaster themselves.

4th UPDATE: Defensive BP Under Pressure To Mollify US Outrage
(Rewrites, updates throughout with analyst comments.)


By James Herron
Of DOW JONES NEWSWIRES

LONDON (Dow Jones)

A defensive BP PLC (BP) denied Thursday any justification for the collapse in its share price, but analysts warned decisive action was needed to calm the growing political storm that threatens the company's long-term interests in the U.S.

BP shares fell to a 13-year low Thursday morning, initially dropping more than 11% in London following sharp losses in the U.S. the previous day. Shares rebounded later and at 1328 GMT were down 6%, or 22 pence, at 368 pence. BP's U.S.-listed shares opened 9.8% higher.

Traders in credit default swaps, used to insure BP debt, were equally spooked. BP 5-year CDSs widened 195 basis points from Wednesday's close to 570 basis points, equivalent to junk credit, said Markit. BP still has an AA credit rating.

Analysts attributed much of the decline to ever-harsher political rhetoric and urged BP to act quickly to mollify the Obama administration.

"BP has been late to recognize the critical political sensitivity," said NCB Stockbrokers analyst Peter Hutton. "They need to act on this quickly in our view, to give the U.S. establishment enough room to claim progress without resorting to emergency legislation."

Political pressure in the U.S. has focused on BP's plans to pay dividends to shareholders and how it is compensating people affected by the spill.

Capitol Hill lawmakers have repeatedly urged BP to suspend dividends until the spill has been stopped and the cleanup completed. The U.S. Justice Department said Wednesday it is investigating BP's dividend plans.

Authorities have also been increasing pressure on BP over compensation. The U.S. government's point man on the oil spill, Adm. Thad Allen, demanded Wednesday that BP provide more detail on how it is meeting claims from individuals and businesses. Interior Secretary Ken Salazar said Wednesday that BP should pay the salaries of any oil workers that are laid off as a result of the government's moratorium on offshore drilling, a move that could hugely increase BP's costs.

"Unilateral action against BP over its U.S. operations, be it unreasonable or illegal, hangs over BP," and some kind of concession is required, said Evolution Securities analyst Richard Griffith. "Given the overwhelmingly hostile nature of the U.S. government, the company may decide to suspend payments until the wells are capped."

BP's immediate response following a 16% collapse in its U.S. shares Wednesday night drew criticism for being inadequate. "BP is not aware of any reason for [the] share price movement," it said in a statement, adding that it had sufficient cash flow to meet all costs associated with the spill.

"The statement contains no new information," said Hutton. "It does not address two likely causes of the movement: greater momentum and credibility in reports of oil plumes below the surface now reported to have extended 40 miles from the source, and the political pressure on BP not to pay the dividend," he said. BP should announce a dividend cut soon, he said.

BP could not immediately be reached for additional comment.

Analysts at Morgan Stanley also urged greater action. "The share price reaction is telling BP's board to show its hand quickly," the bank said in a research note. "Investors will want to see the board reiterate confidence in the management team," a give a clear signal on whether it will bow to pressure on its dividend, the note said.

It is vital that BP consider the political aspect of the crisis, said Citigroup. "The U.S. contributes nearly 46% of BP's net value. There is no question that BP needs to do the right thing in the U.S. and protect whatever franchise is left after the Macondo dust settles," it said in a research note.

The political frenzy is also obscuring good news, said JPMorgan Cazenove analyst Fred Lucas. "As the political rhetoric and media frenzy intensify, BP continues to make good progress containing that well," and may soon be able to capture more than 15,000 barrels of oil a day, he said.

If BP can navigate ease the current febrile mood, it could make a convincing argument to remain operating in the U.S., said Morgan Stanley. BP has world-class assets and people with a strong track record in developing deep water, unconventional gas and giant fields. Exactly the skills required to move [U.S.] dependence away from oil imports," it said.

Thats a big lolly pop on heavy volume.

BP: It Collected 15,800 Barrels Of Oil On Wednesday
HOUSTON (Dow Jones)

BP PLC (BP, BP.LN) announced Thursday that its containment system collected 15,800 barrels of oil on Wednesday from a broken well in the U.S. Gulf of Mexico.

The amount collected is not much of an improvement over the company's containment rate for Tuesday which came in at 15,600 barrels a day.

There have been fears that the collection ship's processing rate has reached a plateau. However, on Wednesday, Coast Guard Adm. Thad Allen said the Discoverer Enterprise might be able to handle up to 18,000 barrels a day.

In the Thursday's announcement, BP said that it flared 31 million cubic feet of natural gas on Wednesday. On Tuesday, the company burned off 29.4 million cubic feet of natural gas.

By next week, BP hopes to have a ready a system that could collect up to 28,000 barrels a day from the spill site. However, some of that oil would be flared into the atmosphere.

As of Thursday, neither BP nor the U.S. government have provided updated estimates about how much oil is actually flowing from the Macondo well. New figures based on scientific analysis are due this week or early next week, Allen has said.

BP has collected 73,300 barrels of oil total since the containment operation began last week.

To be fair ;some big players both buying and selling today ......Anybody any idea who dumped approx 24 million and 10m @ 365 today ?

Bp up 8% in the States.

BP have about 55 billion $ in there war chest...more than enough to cover claims, plus what they make every day. No chance of going bust. buy at the right time and you'll be quids in..

The Blame-game attached to BP is really getting worse than a playground fight.
No-one argues that the drilling should have gone smoothly, or that "not drilling" would be safer. However, as I recall, BP has been very successful at providing American with oil....and this is their first slip of grevous consequences.
It's not as though BP isn't altready paying to clean-up, is it? BP is doing far more than US Authorities did when they let their Banking sector engage in World-breaking activities.

- Oh and US Union Carbide only suffered the detention of the overseer 10-years on, strangely he lived near the Indian plant and couldn't "go home" - many advisors (it is suggested) of the US citizens who it seems have avoided any repercussions.....doesn't seem quite right, eh?'

and this is their first slip of grevous consequences ....... No its their second