| |
Major Site Upgrade in Progress |
|
Nadeem
Veteran Investor
Joined: 11 Jul 2004
Posts: 639
Cash Points ££ 13955.74
|
|
|
 |
|
 |
|
 Posted: Wed Aug 24, 2005 3:25 am Post subject: BP - British Petroleum - Discussion Thread |
 |
|
|
 |
|
 |
|
|
|
|
| Discuss news and views on BP here |
|
|
|
|
|
|
|
Guest
Cash Points ££ 15.00
|
|
|
|
|
|
|
| Posted: Sun Mar 05, 2006 4:04 am Post subject: |
|
|
|
|
|
|
|
|
|
|
| Whats the chances of a bid for BP ? |
|
|
|
|
|
|
|
fireboy
Saving Enthusiast
Joined: 18 Oct 2004
Posts: 134
Cash Points ££ 459.94
|
|
|
|
|
|
|
| Posted: Sun Mar 05, 2006 5:25 am Post subject: |
|
|
|
|
|
|
|
|
|
|
| Anonymous wrote: | | Whats the chances of a bid for BP ? |
LOL... - No chance ! Well not unless they make a real mess of things i.e. like what Marconi did  |
|
|
|
|
|
|
|
Quinn
Saving Enthusiast
Joined: 06 Feb 2005
Posts: 181
Cash Points ££ 2817.02
|
|
|
|
|
|
|
| Posted: Sun Mar 05, 2006 5:26 pm Post subject: |
|
|
|
|
|
|
|
|
|
|
I can't see BP ever being taken over.
As for the price, it does seem to have weakened somewhat even with a boyant oil price, suggests lower prices. |
|
|
|
|
|
|
 |
|
 |
|
cashman
Beginning Saver
Joined: 01 Oct 2004
Posts: 49
Cash Points ££ 140.00
|
|
|
|
|
|
|
| Posted: Mon Apr 17, 2006 4:31 am Post subject: Tax hit ! |
|
|
|
|
|
|
|
|
|
|
Watch out BP holders !
Venezuela hits BP with tax demand
CARACAS, Venezuela (Reuters) - Venezuela has hit oil company BP Venezuela Holdings Limited <BP.L> and a related consortium called Boqueron with a $61.4 million (35 million pound) back tax bill, the nation's tax authorities said on Friday.
The Seniat tax service said in a statement that the taxes arose from BP (LSE: BP.L - news) 's operations between 2001 and 2004, an announcement that comes as the government carries out a wide-ranging probe of private oil company operations.
BP officials did not immediately return phone calls requesting comment on the announcement.
The Seniat said the company will be charged a fine of 10 percent of the total amount of the tax bill. This sum could increase to between 25 percent and 200 percent of the initial tax assessment, the statement said.
BP is the majority operator of two oilfield operating service agreements that produce roughly 21,000 barrels per day (bpd).
Venezuela in the 1990s signed 32 operating agreements with private companies at an income tax of 34 percent.
But tax authorities, under the leadership of left-wing President Hugo Chavez, last year decided the agreements should have paid 50 percent income tax.
The tax agency has passed back tax bills to almost all the companies involved in the agreements.
Venezuelan energy authorities last year said the deals, which currently produce 460,000 bpd, were illegal and had to be converted to joint ventures with state oil company PDVSA holding a majority stake.
BP is currently negotiating to convert its operating agreements to the new types of joint ventures known as "mixed companies". One of the conditions for making the conversion is that the companies clear debts with the Seniat.
Chavez, a former paratrooper, is leading a campaign to increase the amount of money that the oil industry gives to the government of the world's No. 5 crude exporter.
Elected in 1998, Chavez remains popular as he creates a massive social development program that uses petrodollars to finance free education and health care initiatives.
His critics say he is squandering the soaring oil wealth produced by a massive increase in oil prices. |
|
|
|
|
|
|
|
|
|
|
Quinn
Saving Enthusiast
Joined: 06 Feb 2005
Posts: 181
Cash Points ££ 2817.02
|
|
|
|
|
|
|
| Posted: Sun May 14, 2006 5:02 pm Post subject: BP in Bolivia ! |
|
|
|
|
|
|
|
|
|
|
Operations
BP has operations in Bolivia since 1999. Core business there is oil and gas exploration and production, and is conducted through a number of partnerships:
Empresa Petrolera Chaco S.A.
Through its interest in Pan American Energy, BP owns 30% of Empresa Petrolera Chaco, a joint venture (JV) company, whose other principal shareholders are the Bolivian population, represented by BBVA and Futuro de Bolivia pension funds. It is one of the key players in the country's Exploration and Production (Upstream) gas business and a major Liquefied Petroleum Gas (LPG) and gas supplier.
Chaco was formed in 1997 as a result of the capitalization of the Bolivian state-owned petroleum company (YPFB) and is dedicated to the exploration and production of hydrocarbons. Chaco is one of the most important Bolivian producers. In mid 2000, Chaco fulfilled its investment commitment of $US 307 million, five years before the date established by the Bolivian government.
Chaco carries out its exploration and development activities over an approximate area of 730,000 hectares. It has four exploration blocks, two associated blocks, and nine production fields. The most important exploration blocks are Aguarague (in the southern part of the country) and Chimoré (in Cochabamba). Chaco's primary production fields are: Carrasco (Cochabamba), Patujusal and Los Cusis (Santa Cruz) and Vuelta Grande (Chuquisaca).
Caipipendi
Pan American Energy (60% BP) holds a 25% stake in the Caipipendi block in Tarija, together with British Gas (37.5%) and Repsol (37.5%). The block contains the Margarita discovery which has certified reserves of 13 trillion cubic feet (tcf) of gas.
Air BP
Air BP was awarded airport assets and aviation fuelling business through a competitive privatization process in September of 2000. They operate refueling facilities at Bolivia's 15 airports, which handle around 39 million US gallons per year. Air BP has exclusive marketing rights in Bolivia until the year 2022.
To date, Air BP has invested over 3.2 million dollars in airport capital improvement projects, as well as more than 1.2 million dollars in newer fuelling vehicles and equipment.
back to top
Employees
BP directly employs 10 employees in the country - 3 in Chaco and 7 in Air BP.
Chaco has 231 employees in Bolivia.
back to top
Social investment and community initiatives
One of BP's most important contributions to Bolivia has been the financial support provided in expanding the Noel Kempff National Park.
Chaco S.A. initiates yearly community outreach programmes. In 2002, the main activities were the sponsorship of the Baroque Music Festival and a programme to teach household safety to elementary students. This programme reached 1,000,000 households - relaying educational messages on television broadcasts. At the same time, presentations were made to over 15,000 children between the ages of 6-10, a number that should increase as the programme continues. Chaco also donated close to two tonnes of medicine and supplies in Bolivia as well as sponsoring a variety of other events, such as the local Special Olympics.
Chaco carries out socio-economic studies in all communities close to their production and exploration activities. An integral part of these studies are open dialogue workshops so that the communities are kept informed of:
Chaco's activities or projects
The longer term benefits of these activities for the community
The underlying policies of Chaco's social investment
These meetings also help Chaco's employees understand local needs and requests for assistance. Projects are then prioritized in collaboration with the communities; a budget designated and detailed plans arranged to complete for the projects that Chaco will finances.
Since 1997 Chaco has contributed approximately $US760, 000 in social investment projects to improve education, health, and basic infrastructure that will encourage development in the area. Chaco's investment plans have had a positive impact on the communities by improving the quality of life. Because of the participation and agreement of the communities concerned, the programmes are designed to be sustainable.
In 2002 the emphasis of Chaco's social investment planning will be in the area of education |
|
|
|
|
|
|
|
Quinn
Saving Enthusiast
Joined: 06 Feb 2005
Posts: 181
Cash Points ££ 2817.02
|
|
|
|
|
|
|
| Posted: Sun Oct 15, 2006 2:55 am Post subject: |
|
|
|
|
|
|
|
|
|
|
"The City of London Corporation has unwittingly gone to war with BP, one of the bluest of blue-chip companies.
The Corporation's Pounds 420m pension scheme has been attached to a lawsuit filed by lawyers in the US who are claiming negligence by BP's board. However, until yesterday afternoon the City of London Corporation, which is the local government authority covering London's financial centre, was unaware of its involvement, writes the Times." |
|
|
|
|
|
|
|
Wade
Saving Enthusiast
Joined: 17 Feb 2005
Posts: 185
Cash Points ££ 2569.94
|
|
|
|
|
|
|
| Posted: Fri Nov 10, 2006 2:30 am Post subject: |
|
|
|
|
|
|
|
|
|
|
Oil price is perking up and so it BP  |
|
|
|
|
|
|
|
Quinn
Saving Enthusiast
Joined: 06 Feb 2005
Posts: 181
Cash Points ££ 2817.02
|
|
|
|
|
|
|
| Posted: Wed Nov 22, 2006 3:15 pm Post subject: |
|
|
|
|
|
|
|
|
|
|
Down now and so is the stock
If your looking for an oil stock go for Shell rather than BP, Shell is actually cheaper than BP by about 10% on a PE ratio basis. |
|
|
|
|
|
|
|
cardjunkie
Professional Investor
Joined: 24 Jul 2004
Posts: 311
Cash Points ££ 2248.20
|
|
|
|
|
|
|
| Posted: Sun Nov 26, 2006 6:39 am Post subject: |
|
|
|
|
|
|
|
|
|
|
| I'm interest in buying some shares for the long-term so I think yuo suggest I should go for shell rather than BP ? |
|
|
|
|
|
|
|
Wade
Saving Enthusiast
Joined: 17 Feb 2005
Posts: 185
Cash Points ££ 2569.94
|
|
|
|
|
|
|
| Posted: Wed Nov 29, 2006 2:13 am Post subject: |
|
|
|
|
|
|
|
|
|
|
I read an article on the peg ratio the other day (posted on this site)
And according to that on a PEG of of.79, BP is a screaming buy ! |
|
|
|
|
|
|
|
|
|
|
Wade
Saving Enthusiast
Joined: 17 Feb 2005
Posts: 185
Cash Points ££ 2569.94
|
|
|
|
|
|
|
| Posted: Wed Dec 13, 2006 4:17 am Post subject: |
|
|
|
|
|
|
|
|
|
|
What about the refinary blast, that could impact on BP profits -
HOUSTON - A woman whose parents died in a Texas refinery explosion in 2005 settled a $1.2 billion (630 million pounds) lawsuit with oil giant BP on Thursday.
BP reached the undisclosed settlement with 22-year-old plaintiff Eva Rowe and apologized for the Texas City refinery blast that killed 15 workers and injured about 170 others.
"We are deeply sorry that she (Rowe) had to go through an ordeal like this and we truly regret her loss," said BP spokeswoman Sarah Howell.
The incident was the first in a series of mishaps that called into question BP's ability to manage its infrastructure, and led to the departure of several U.S. executives.
Rowe's attorney Brent Coon told reporters the total settlement was "a very small fraction" of the $1.2 billion Rowe was seeking.
As part of the settlement, $32 million in donations will be made to colleges and hospitals.
"I wanted to help the community and make a difference for a lot of people, so it feels really good," Rowe said. "I wanted to help people and I've accomplished that."
The burn unit at University of Texas Medical Branch in Galveston and the chemical plant safety program at Texas A&M University in College Station will each receive $12.5 million. Continued... |
|
|
|
|
|
|
|
Wade
Saving Enthusiast
Joined: 17 Feb 2005
Posts: 185
Cash Points ££ 2569.94
|
|
|
|
|
|
|
| Posted: Tue Feb 27, 2007 1:29 am Post subject: |
|
|
|
|
|
|
|
|
|
|
I am seriously starting to get pissed off with this piece of rubbish !
Oils rising but BP is still way down from where it was when oil was last at 61 |
|
|
|
|
|
|
|
Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
|
|
|
|
|
|
|
| Posted: Fri Apr 13, 2007 3:48 am Post subject: BP's Browne steps down with £60 million plus Golden Handshak |
| | | | |
