Bp Share Discussion Threads

[dafrog] 04/9/2014 15:56

It will be a waste of time . It is always that Klaus Barbier, he despises us and BP. Obama should be tackled on it and reminded of the 167 deaths on Piper Alpha. 3% Halliburton's fault is sick. It was theirs 100%.

[dov] 04/9/2014 15:51

Fines will rise Bp will be finally screwed into the ground after the waste of time appeal of course.

[kiwi2007] 04/9/2014 15:49

BP faces bigger fines after gross negligence ruling

14 minutes ago

BP has been found to have acted with gross negligence and wilful misconduct in the 2010 Deepwater Horizon disaster, exposing it to penalties of up to $18bn.

The US district court in New Orleans that has been hearing the civil case over the spill issued a ruling on Thursday morning covering the first phase of the trial held last year, which addressed responsibility for the accident, reports Ed Crooks, US energy editor.

Its conclusions mean BP faces the highest level of penalties under the Clean Water Act, of up to $4,300 per barrel spilled. Based on the US government's estimate that 4.2m barrels leaked into the water of the Gulf of Mexico, that would mean a total maximum penalty of up to about $18bn.

BP shares fell as much as 4 per cent in late afternoon trading in London.

BP has set aside about $3.5bn in its accounts for Clean Water Act penalties, so a higher charge would mean a hit to its profits.

It reported underlying post-tax profits of $13.4bn for 2013.

The precise penalties will be set following hearing scheduled for January of next year.

BP, which has always denied gross negligence, is expected to appeal against the ruling.

Transocean and Halliburton, the two other companies still facing legal action over the disaster, were found negligent but not reckless, and face smaller penalties.

The court apportioned the blame 67 per cent to BP, 30 per cent to Transocean and 3 per cent to Halliburton. The other two companies have contractual indemnities with BP, which the court ruled they can enforc

[catman66] 04/9/2014 15:48

Why is it good news for Transocean?

[dov] 04/9/2014 15:35

Confirmed on bloomberg

[davidoffetc] 04/9/2014 15:33

'gross negligence' rumour

[dov] 04/9/2014 15:33

Co been found grossly negligent according to bloomberg what a shocker not !!!

[dr_ex] 04/9/2014 15:33

if it closes where it is, head and shoulder breakdown to possibly 400p.
i dont have position.

[paulf] 04/9/2014 15:33

BP Found Grossly Negligent in 2010 Gulf Spill, Fines May Rise Bloomberg

[hvs] 04/9/2014 15:32

Oh Dear,

The OXBRIDGE brigade at it again.

Lord very very Browne must be smiling.

[bracke] 04/9/2014 15:31

More sanctions to be applied to Russia.

Perhaps concern that Vlad will involve BP?

[dambuster1] 04/9/2014 15:30

Been found grossly negligent...

[dov] 04/9/2014 15:26

any news???

[hellscream] 03/9/2014 06:53

Its a 4.50 share like others as said (ukraine doesnt matter) it would of been down to this level anyway.. the usa got it by its balls.

[skinny] 03/9/2014 05:58

Slightly more BP slanted..



From the text :-

"The agreement, which includes legal fees, is likely to raise hackles amongst BP’s supporters, who feel that the British oil major is being punished too harshly for the disaster.

Earlier this year, BP raised its forecast for the amount of money it will have to pay out to compensate victims from $7.8bn to $9.1bn, and analysts expect it to rise further as up to 10,000 new claims are filed each month."

[john148] 02/9/2014 22:01

Whats there to talk about.Until we know exactly what the total bill for the Gulf of Mexico disaster is then it's my opinion the share price will trade in a very narrow price range.

[optomistic] 02/9/2014 18:33

Such a long break of posts from the 20th August...is this lack of interest in BP confined to this BB or is it general investor sentiment?
ps. thanks Bracke for your last post, maybe this will create more interest in BP.

[prambigear] 02/9/2014 13:16

Definitely 'unloved'.....

[srb74] 28/8/2014 16:35

That chart looks like its forming one massive head and shoulders. Of course oil will eventually run out and them what happens to the share price.

[exotic] 25/8/2014 12:50

To help you decide, I think with a stock like this you need a chart with more history:



That would suggest the chance of quadrupling, or even doubling, is close to zero.

Knowing what a СUИi8; Putin is, he'll be waiting for Europe to enter the depths of winter before playing the oil & gas blackmail card. If I was considering an investment in BP for the long term, I'd wait until winter; you might snap up a bargain.

[nofool] 23/8/2014 10:41

I wonder, is this thing going to quadruple bottom out of the mid 460's this year?

Or not..

[bracke] 20/8/2014 18:46

The share price is moving back towards the Daily SMA 200 at 490.

The last time it got to the SMA 200 (05 August) it was sent packing.