BP Share Chat (BP.)

Great news, fine even less than expected !!!!

http://www.bloomberg.com/news/2015-01-20/bp-judge-urged-by-u-s-to-impose-11-7-billion-plus-spill-fine.html

SSnake
Thanks for the link. Good to see some real detail on the numbers rather than 'analysts say' stuff.

Watch BP @current levels. U.S. District Judge has ruled that 3.19 million barrels were discharged into the Gulf after a rig explosion at BP’s Macondo well, a figure 25% below than the 4.2 million barrels the U.S. government had calculated, and its potential maximum fine was reduced by billions. Check this out http://finance.crwe-pr.com/2015/01/17/bp-plc-bp-upcoming-penalties-confrontation-cbs-corporation-cbs-rating-boosted/

Yes - a very good day yesterday.

Still plenty of issues for bp, not least of which is the Rosneft millstone - and that will be affected by sanctions and value of ruble as much as oil price.

But at least one major uncertainty for bp is now out of the way: the spill volume. Just need a nice compromise over the per bbl fine and things will really start to look up.

I am expecting to see a steady rise back to 450. What happens after that will depend on how long the Saudis wish to keep oil price suppressed. To really damage shale they will probably need to keep the price low for a few more months - that way prospective financial backers will be very guarded in future.

Back up to 500 by EOY, with any luck.

What a result, touched 22p for a bit.

With the fine now several billion less, hoping this will support the div staying at the same level as Q3.

Tuesday is dead line.

Although BP are to blame, they should still be credited for having taken full accountability and doing the right thing, even if a load of yanks exploited the claims process !!!!

Just need the price of oil to recover and we could start to seem some light !!!

+20p

There it is! Just have to hang onto it now.

19p up

Roll the dice and give is 20p !!!

Agree that it is unexpected to get any favours from Judge B, however, if he had wanted to shaft bp (again) he could have gone with US Govt's spill figure of 4.09m barrels. The fact that he has used figure of 3.19m barrels is a positive sign - to me at least.

GL

That we may have seen +20p today when US opened, think the moment has been lost.

Lets hope we keep the right side if £4 going forward.

Result of fine due this Tuesday.