BP Shares
16 July 2010, 09:03 AM
#121
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All good news so far. I may for once actually make some money from shares
Sold off my Barclays yesterday at just over 300p which I bought at about 267. I'm sure they'll drop again when the next round of banking bad news comes out (ie next euro zone country they are exposed to looks to be defaulting on its sovereign debt)
Sold off my Barclays yesterday at just over 300p which I bought at about 267. I'm sure they'll drop again when the next round of banking bad news comes out (ie next euro zone country they are exposed to looks to be defaulting on its sovereign debt)
16 July 2010, 10:59 AM
#123
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All good news so far. I may for once actually make some money from shares
Sold off my Barclays yesterday at just over 300p which I bought at about 267. I'm sure they'll drop again when the next round of banking bad news comes out (ie next euro zone country they are exposed to looks to be defaulting on its sovereign debt)
Sold off my Barclays yesterday at just over 300p which I bought at about 267. I'm sure they'll drop again when the next round of banking bad news comes out (ie next euro zone country they are exposed to looks to be defaulting on its sovereign debt)
(Santander is another one to watch. They seem to wobble more randomly than Barclays though. At least, for us UK folk.)
J.
Last edited by vindaloo; 16 July 2010 at 11:01 AM.
19 July 2010, 08:35 AM
#124
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More bad news from the GoM...
The US fears oil may be seeping from the ocean floor near the stricken Gulf of Mexico oil well.
The official in charge of the clean-up, Thad Allen, said if a substance leaking from the seabed was found to be methane this may mean oil was also leaking.
But BP says it would take three days to start this process.
During this time, the daily leakage of tens of thousands of barrels of oil, which had been capped last Thursday, could resume.
The official in charge of the clean-up, Thad Allen, said if a substance leaking from the seabed was found to be methane this may mean oil was also leaking.
But BP says it would take three days to start this process.
During this time, the daily leakage of tens of thousands of barrels of oil, which had been capped last Thursday, could resume.
19 July 2010, 09:44 AM
#128
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19 July 2010, 09:49 AM
#129
I agree. My guess is BP will sell off a good portion of their downstream business as that's where their biggest costs and smallest margins are.
19 July 2010, 06:50 PM
#132
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20 July 2010, 07:54 AM
#133
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Seems like there was some confusion yesterday about whether the cap was leaking or not. Overnight it seems like the leak maybe inconsequential.
If the fall yesterday was due to this then I suppose we may see a rebound today? If the fall yesterday was due to other reasons ie general outlook for BP then probably not!
If the fall yesterday was due to this then I suppose we may see a rebound today? If the fall yesterday was due to other reasons ie general outlook for BP then probably not!
20 July 2010, 11:41 AM
#134
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10:43 20Jul10 -RPT-WRAPUP 1-BP rises on cap news as Cameron set to talk Libya
(Repeats to additional subscribers)
* BP shares up on news seep unrelated to Macondo well
* British PM to meet Senators on Libya prisoner release
* Gulf oil rig had maintenance problems-rig engineer
* BP shares up 1.1 pct, outperforming energy stocks index
By Tom Bergin and Kristen Hays
LONDON/HOUSTON, July 20 (Reuters) - BP shares rose on Tuesday on confidence that a cap on its Gulf of Mexico well was holding, as Britain's Prime Minister agreed to meet senators probing the oil major's role in the release of a Libyan jailed for bombing a U.S. plane.
BP Plc <BP.L><BP.N> shares traded up 1.1 percent at 0931 GMT, outperforming a 0.2 percent rise in the STOXX Europe 600 Oil and Gas index <.SXEP>, after Thad Allen, the top U.S. oil spill official said a seep detected about 3 km (1.9 miles) from the well was not caused by a pressure test on the well.
The test has stemmed the flow of oil since Thursday, bringing hope to residents in the Gulf region, and to BP investors, that the crisis has turned a corner.
The oil spill remains a major political issue and will loom large when British Prime Minister David Cameron meets President Barack Obama in Washington on Tuesday. [ID:nLDE66I0I8]
Cameron has also agreed to meet with four U.S. senators from New York and New Jersey who have demanded investigations into the release of Libyan intelligence officer Abdel Basset al-Megrahi, who was convicted of the 1988 bombing of a Pan Am flight over Lockerbie, Scotland.
Al-Megrahi was released from a Scottish prison on compassionate grounds last year on the basis he was terminally ill with cancer and had only a few months to live.
BP has confirmed it lobbied the British government in late 2007 over a prisoner transfer agreement with Libya, which could have paved the way for al-Megrahi's release but it said it was not involved in talks on his final release.
The release was strongly opposed by the Obama administration and by Cameron, who was in opposition at the time.
WELL CAPPED FOR NOW
Officials are monitoring the pressure in the well to gauge whether it is structurally sound. An intact well would help when a relief well now being drilled tries to permanently plug the leak, but damage could complicate that effort.
Concern about potential problems means Allen is giving the London-based oil giant permission to proceed on a daily basis.
Kent Wells, BP's senior vice president of exploration and production, said continuing the test in 24-hour increments "is absolutely the way for us to go forward".
He said the longer the test lasts, and as long as the well shows signs that it is intact, "we'll just gain more confidence that the well has integrity and we have a depleted reservoir".
Wells and Allen mentioned another idea on Monday that scientists are weighing: a so-called "static kill" to help smother and plug the leak.
This would involve pumping heavy drilling mud and possibly cement into the well, much like BP's failed "top kill" in May.
During the top kill process, the well was not shut in at the top, so most of the mud shot out along with crude, BP has said. Wells said with the well enclosed, BP would not have to pump in so much so fast, because crude is not flowing.
As part of an ongoing test of the well, BP choked off the flow a mile (1.6 km) under the water's surface with a cap on Thursday, marking the first time oil has not spewed since the April 20 explosion on the offshore rig killed 11 workers.
The worst oil spill in U.S. history has caused an economic and environmental disaster in five states along the Gulf Coast and hurt Obama's approval ratings. (Additional reporting by Tabassum Zakaria in Washington, Matthew Lynley in New York, and Mary Rickard in Kenner, Louisiana; Writing by Ed Stoddard and Deborah Charles; Editing by Stacey Joyce and Will Waterman)
(Repeats to additional subscribers)
* BP shares up on news seep unrelated to Macondo well
* British PM to meet Senators on Libya prisoner release
* Gulf oil rig had maintenance problems-rig engineer
* BP shares up 1.1 pct, outperforming energy stocks index
By Tom Bergin and Kristen Hays
LONDON/HOUSTON, July 20 (Reuters) - BP shares rose on Tuesday on confidence that a cap on its Gulf of Mexico well was holding, as Britain's Prime Minister agreed to meet senators probing the oil major's role in the release of a Libyan jailed for bombing a U.S. plane.
BP Plc <BP.L><BP.N> shares traded up 1.1 percent at 0931 GMT, outperforming a 0.2 percent rise in the STOXX Europe 600 Oil and Gas index <.SXEP>, after Thad Allen, the top U.S. oil spill official said a seep detected about 3 km (1.9 miles) from the well was not caused by a pressure test on the well.
The test has stemmed the flow of oil since Thursday, bringing hope to residents in the Gulf region, and to BP investors, that the crisis has turned a corner.
The oil spill remains a major political issue and will loom large when British Prime Minister David Cameron meets President Barack Obama in Washington on Tuesday. [ID:nLDE66I0I8]
Cameron has also agreed to meet with four U.S. senators from New York and New Jersey who have demanded investigations into the release of Libyan intelligence officer Abdel Basset al-Megrahi, who was convicted of the 1988 bombing of a Pan Am flight over Lockerbie, Scotland.
Al-Megrahi was released from a Scottish prison on compassionate grounds last year on the basis he was terminally ill with cancer and had only a few months to live.
BP has confirmed it lobbied the British government in late 2007 over a prisoner transfer agreement with Libya, which could have paved the way for al-Megrahi's release but it said it was not involved in talks on his final release.
The release was strongly opposed by the Obama administration and by Cameron, who was in opposition at the time.
WELL CAPPED FOR NOW
Officials are monitoring the pressure in the well to gauge whether it is structurally sound. An intact well would help when a relief well now being drilled tries to permanently plug the leak, but damage could complicate that effort.
Concern about potential problems means Allen is giving the London-based oil giant permission to proceed on a daily basis.
Kent Wells, BP's senior vice president of exploration and production, said continuing the test in 24-hour increments "is absolutely the way for us to go forward".
He said the longer the test lasts, and as long as the well shows signs that it is intact, "we'll just gain more confidence that the well has integrity and we have a depleted reservoir".
Wells and Allen mentioned another idea on Monday that scientists are weighing: a so-called "static kill" to help smother and plug the leak.
This would involve pumping heavy drilling mud and possibly cement into the well, much like BP's failed "top kill" in May.
During the top kill process, the well was not shut in at the top, so most of the mud shot out along with crude, BP has said. Wells said with the well enclosed, BP would not have to pump in so much so fast, because crude is not flowing.
As part of an ongoing test of the well, BP choked off the flow a mile (1.6 km) under the water's surface with a cap on Thursday, marking the first time oil has not spewed since the April 20 explosion on the offshore rig killed 11 workers.
The worst oil spill in U.S. history has caused an economic and environmental disaster in five states along the Gulf Coast and hurt Obama's approval ratings. (Additional reporting by Tabassum Zakaria in Washington, Matthew Lynley in New York, and Mary Rickard in Kenner, Louisiana; Writing by Ed Stoddard and Deborah Charles; Editing by Stacey Joyce and Will Waterman)
27 July 2010, 09:53 PM
#135
Scooby Regular
Well I'm having a right good week (let me gloat, my investments usually turn to sh1te!)
My Barclays shares were bought circa 267, I sold some at 300 and will the sell the rest tomorrow at 339!
BP doing well around the £4mark. Just can't make my mind up whether to sell them or not.
Gold is the one to watch, could be a buying opportunity developing for those who have missed out so far. Down to a 3 month low, if it drops much lower I'm going to buy as much as I can and wait for $1500 whilst I rub my precious with glee.
My Barclays shares were bought circa 267, I sold some at 300 and will the sell the rest tomorrow at 339!
BP doing well around the £4mark. Just can't make my mind up whether to sell them or not.
Gold is the one to watch, could be a buying opportunity developing for those who have missed out so far. Down to a 3 month low, if it drops much lower I'm going to buy as much as I can and wait for $1500 whilst I rub my precious with glee.
29 July 2010, 11:21 AM
#136
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"...
Ten days after BP stopped oil leaking from the well experts say they are struggling to find any to clean up.
Before the cap was fitted, 25,000 barrels of oil a day were being skimmed from the thickest part of the slick. Last week, that was down to 56 barrels a day.
Thad Allen, the US government's spill response chief, said: "What we're trying to figure out is where the oil is and what can we do about it."
The spill has leaked between 117 and 189 million gallons of oil in the 100 days of the crisis. Around a quarter has been collected or burned in the massive response effort.
The government's latest Nearshore Surface Oil Forecast found only seven sizeable patches of surface oil, all of them a light sheen. ...."
Maybe Mother Nature has her own ways to clean things up .....
Dave
29 July 2010, 11:39 PM
#138
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So, i wonder if Barack Obama (hummm, that's BO, just one letter away from BP) will give us a refund on the twenty billion dollars that he forced BP to stump up (for alleged damage that was also caused by some Merkin companies, but who have been surprisingly quiet about it all)????
mb
mb
30 July 2010, 06:50 AM
#139
30 July 2010, 07:27 AM
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I can't find BP on TDWaterhouse site. I'm searching for BP.L, but no luck. Anyone know why? I'm new to this stocks stuff.
Edit: Found it.
Edit: Found it.
Last edited by Saint AAI; 30 July 2010 at 08:21 AM.
05 August 2010, 08:12 AM
#141
Scooby Regular
423p, nice. No reason why it should drop from here? The well is capped and holding. In terms of liabilities, will these already be factored into the price on a worse case scenario or not?
05 August 2010, 02:07 PM
#143
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http://goldprice.org/30-year-gold-price-history.html
TX.
Last edited by Terminator X; 05 August 2010 at 02:08 PM.
05 August 2010, 04:05 PM
#144
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I think i'd be tempted to take a contrarian view and short gold with a tight stop and a fairly good risk reward trade off.
Done very well out of being long GKP, a stock in BPs sector!
Done very well out of being long GKP, a stock in BPs sector!
05 August 2010, 07:21 PM
#145
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Haven't you missed out? It's been rising for years!
http://goldprice.org/30-year-gold-price-history.html
TX.
http://goldprice.org/30-year-gold-price-history.html
TX.
05 August 2010, 07:24 PM
#146
Scooby Regular
What do you think about the BP share price Alloy? All the liabilities already factored into the price or not?
Thanks
05 August 2010, 11:00 PM
#147
http://www.dailymarkets.com/stock/20...uyer-interest/
$90 billion/18 billion shares works out at around another £2.75 per share (also the $90 billion is conservative, I actually thought the asset value was closer to $300 billion which is another £2.20 per share)
Worth bearing in mind the $20 billion clean up fund is spread over a number of years + the oil price remains $80+
Even if the clean up costs were 2 or 3 times the $20 billion and spread over a number of years, there's still a lot of value missing somewhere
06 August 2010, 09:55 AM
#148
Scooby Regular
BP still well below true value - see below link.
http://www.dailymarkets.com/stock/20...uyer-interest/
$90 billion/18 billion shares works out at around another £2.75 per share (also the $90 billion is conservative, I actually thought the asset value was closer to $300 billion which is another £2.20 per share)
Worth bearing in mind the $20 billion clean up fund is spread over a number of years + the oil price remains $80+
Even if the clean up costs were 2 or 3 times the $20 billion and spread over a number of years, there's still a lot of value missing somewhere
http://www.dailymarkets.com/stock/20...uyer-interest/
$90 billion/18 billion shares works out at around another £2.75 per share (also the $90 billion is conservative, I actually thought the asset value was closer to $300 billion which is another £2.20 per share)
Worth bearing in mind the $20 billion clean up fund is spread over a number of years + the oil price remains $80+
Even if the clean up costs were 2 or 3 times the $20 billion and spread over a number of years, there's still a lot of value missing somewhere
Thanks, I'm glad I held on. Just wish my b8lls were a bit bigger at the time and had bought more