BP - off the hook ? ...and a BUY ?

tonysbt

Nice to see the latest batch of posts - it makes me sick when OBlimey continues with his form of rhetoric. He obviously hasn't got a bloody clue. He is now inviting relatives of those workers killed in the incident to the White House. Perhaps he would do the same for the relatives of those killed in Bhopal!

lvader

StevieJ wrote: »

Has Shell caught something nasty off BP?


Chevron +3.83% Exxon +2.63%

Shell -1.12%

Shell up 3% in US trading

StevieJ

lvader wrote: »

Shell up 3% in US trading

I really don't know what is going on with these prices, if you look earlier in the thread 3.00pm you will see that Exxon was up 2.3% and Shell was well down, both markets were trading, why should the UK market be so different than the UK?

lvader

Everything is crazy at the moment, bears and bulls are showing up in different markets at different times. Just when you think the market is going in a certain direction, Asian, European or US markets will do a 180. Most financial reports and news are out of date by the time they are released.

sabretoothtigger

When BP (& partners) screwed up it kinda ruined things for every oil company to some extent.
Shell has lost the prospect of gaining oil wells in the Alaska arctic which would have been a first, it had been offlimits for as long as I can remember

Oil price has also dropped

The spill is big enough to gain attention worldwide so some exploratory rigs across asia and europe have been suspended pending review of current best practise.

The whole industry has been downgraded it seems. Shell should do better then most I think because they had already decided to supply natural gas in the majority.
In general the optimism on stock projected earnings has been reeled in by European worries which represents alot of world consumption.

Most financial reports and news are out of date by the time they are released.

Yep there is a layered effect to things. It takes time for events to sink into prices and then for it level out.

The Euro has risen vs the dollar pretty much all week. Only today has the market risen alot presumably in delayed reaction.
Next week I think the euro might fall again and we start all over



Details of the 11 lost from the rig, relatives visiting white house -
http://edition.cnn.com/2010/US/06/09/gallery.oil.rig.victims/index.html?hpt=C1

ess0two

sabretoothtigger wrote: »

Seems theres a parallel there, gas leakage caused the piper alpha failure also

Piper alpha was caused by a breakdown in safe systems of work,in short a pump was brought online with parts missing.

The failure was down to maintenance/permit to work records,which would have prevented the pump being returned to service.

worldtraveller

BP Plc’s damaged well in the Gulf of Mexico has been leaking twice as much oil as previously estimated, a team of government scientists said in its latest report on the size of the worst spill in U.S. history.

The well is gushing 20,000 to 40,000 barrels of oil a day, according to an estimate released yesterday by the scientists, tasked by the government with calculating the flow. On May 27, the group pegged the rate at 12,000 to 19,000 barrels a day.

The latest figure is for the size of the leak prior to June 3, when BP sawed off a bent riser pipe, potentially increasing the amount of crude escaping by as much as 20 percent. The scientists don’t have a projection for the current flow, Marcia M!!!!t, director of the U.S. Geological Survey, said in a news conference yesterday.

“Our scientific analysis is still a work in progress, as you can tell from a range of estimates,” said M!!!!t, who is overseeing several independent flow-rate teams using different methods. Two offered revised flow models which were higher than those presented two weeks ago, she said. Another two are revising their data and will deliver their figures by the end of the month.

Preliminary figures from a team of Woods Hole Oceanographic Institution scientists suggest the well could be leaking as much as 50,000 barrels a day, M!!!!t said.

An accurate estimate of the volume is vital for those responding to the spill, according to U.S. Coast Guard Admiral Thad Allen. BP is capturing about half of the new estimated flow rate from the broken well, almost a mile down on the seabed of the Gulf of the Mexico, and siphoning it to ships on the surface.

Businessweek

U.S. Government funded scientists? :think: :silenced:

tradetime

tonysbt wrote: »

Nice to see the latest batch of posts - it makes me sick when OBlimey continues with his form of rhetoric. He obviously hasn't got a bloody clue. He is now inviting relatives of those workers killed in the incident to the White House. Perhaps he would do the same for the relatives of those killed in Bhopal!

Unfortunately I think this incident has confirmed my one major reservation on Obama. Not being generally political the Republican / Democrat, Labour / Conservative (can't even remember which way round they are ) thing makes little difference to me, I think they're all clowns, but my fear with Obama was that he didn't have the experience to handle the top job.

As for the UK press and media, I'm surprised they took so long to enter the fray. I guess it would be what remaining sense of "Britishnes" we have left, thinking "Well I suppose we did pee on their floor."
Next week should see the tabloids and media here ratchet up their retaliation after Hayward testifies on Capitol Hill, having watched the political showboating on several of those sessions, that will likely be pretty ugly.

StevieJ

sabretoothtigger wrote: »

When BP (& partners) screwed up it kinda ruined things for every oil company to some extent.
Shell has lost the prospect of gaining oil wells in the Alaska arctic which would have been a first, it had been offlimits for as long as I can remember

Oil price has also dropped

The oil price had gone up, I was actually comparing the relative performance of the UK and US oil companies that should in general suffer from the same variables.

Yakubu22

balls, missed the boat -again.