Too big a risk do you think? Further to fall? Bankruptcy beckons perhaps?

Interesting. I'm surprised that people are still selling today. If I had had any shares I would have dumped them a month ago. Personally I think it will get much worse before (if) it gets better.

It is gonna get worse but BP is so massive it can easily cope. Read somewhere that the 1 billion loss is like 5% of last year's profit. That's oil for yer.

5.6bn profit for the jan to march 2010.

BP won't go bust. too big me thinks. I really hope they get this spill under control soon tho!
I would say its a no go at the moment!

question is are you happy to make profits off an immoral, corrupt corporation with an abysmal attitude to health and safety and environmental concerns

long term investment me thinks ….

loads of folk at work are dumping money into them – folk in the oil industry – wether that means anything ill let you decide

although i know what bps profits were and although they are loosing money i dont think its as bad as folk are making out – the worst is yet to come in the form of law suits and american idiots sueing for being traumatised from seeing it on tv from their trailer !

abysmal attitude to health and safety

– of course assuming you have workd for them youd know you cant take a shit on one of their rigs without asking the company mans permission ….

And even then it's a two man job.

question is are you happy to make profits off an immoral, corrupt corporation with an abysmal attitude to health and safety and environmental concerns

Easy target in a green revolution, not sure whether they did very much wrong. Wasn't the rig actually owned and operated by other people, just being commissioned to do their work?

26 people dead on bp rigs in the USA over 5 years is evidence of good H&S?

from wikipedia……
On October 30, 2009, the US Occupational Safety and Health Administration (OSHA) fined BP an additional $87 million — the largest fine in OSHA history — for failing to correct safety hazards revealed in the 2005 explosion. Inspectors found 270 safety violations that had been previously cited but not fixed and 439 new violations. BP is appealing that fin

Chances of BP getting the exploration rights to anywhere in the vicinty of the good ol US of A ever again – Zero

Didn't they have an accident at a refinery in Texas in 2005, killing 15 people? Do Shell have this kind of record?

Chances of BP getting the exploration rights to anywhere in the vicinty of the good ol US of A ever again – Zero

I don't know. This is America remember – money talks. I suspect there are a lot of American interests in BP as well.

News this morning, this isn't even in the top 40 of bad oil spills!

BP will be alright, but don't buy just yet.

Didn't they have an accident at a refinery in Texas in 2005, killing 15 people? Do Shell have this kind of record?

shell

They are all as bad as each other,

if you're not bothered by this:

question is are you happy to make profits off an immoral, corrupt corporation with an abysmal attitude to health and safety and environmental concerns

then i susoect they'll be a good long term investment. i was just pondering this earlier today, as it happens. however:

BP will be alright, but don't buy just yet.

+1. IM(H)O

I hope BP goes bankrupt for a bit of fun in the media since oil companies are seen above all.

If not give them the heaviest fine in the history of mankind for trying to bleed the earth dry.

😆

I don't know. This is America remember – money talks.

Yes, and the entire US oil industry is handing out gold-plated pitchforks right now.

BP's E&P in Alaska has also been an environmental disaster.

I hope all those holier-than-thou people out there realise that about 1 in 6 of their pension pounds is invested in BP?

I hope all those holier-than-thou people out there realise that about 1 in 6 of their pension pounds is invested in BP?

Good post.

As for the share-buying advice ?, well, as the old saying goes:

"Never try to catch a falling knife"

Capt C.

Too early yet to buy shares IMO, given they keep failing to plug it and the US administration is, publicly at least, coming down hard on them. I can't see them going under though.

I hope all those holier-than-thou people out there realise that about 1 in 6 of their pension pounds is invested in BP?

Hah! I've outsmarted them by not having any pension pounds at all in that case. 😆

(Or, alternatively, if our environmental and financial future depends on BP and their subcontractors getting it right, all the more reason to kick their arse when they get it wrong, and to recognise the risks inherent in such an investment strategy).

I believe BP have done great things for/in the Niger delta

Stoner sums up the issue – your ability to opt in or out of what may offend your sensitivities is not really within your reach

Er I think you find its Shell in the Niger Delta

BP's had an unlucky run, and those figures on H&S inadequacies are misleading, look at the fine $87million, thats peanuts, you could buy a footballer for that, and oil companies could (and did) buy entire football clubs and invest enough to win the champions league on a whim!

Checkout the explosion on the gas storage/reinjection platform in the north sea a few years back, (47/3B?), the thing was blown sky high yet there wasnt a single H&S violation recoreded. Sometimes things really are just freak accidents.

Theres a rig sunk off venezuella at the moment, very similar circumstances and equipment. They were just lucky and the valve worked. Its barely made the news outside industry magazines.

question is are you happy to make profits off an immoral, corrupt corporation with an abysmal attitude to health and safety and environmental concerns

Obviously you have never worked for BP! Having worked for various operators over the years, they are up there with the best.

Offshore oil & gas E&P is inherintly hazardous IMHO BP are being hung out to dry. Transocean owned the rig and blow out preventer. Another company did the cement job (which failed) and another contractor would have run sub sea safety valves. All barriers which should have prevented the current situation.

The law suits are going to interesting!

Never let reality get in the way of a good story though.

Theres a rig sunk off venezuella at the moment, very similar circumstances and equipment. They were just lucky and the valve worked. Its barely made the news outside industry magazines.

Ditto the recent well control incidents west of Shetland

on the gulfaks c futureboy ? my mate was shitting him self his first muster on a gas alarm

Yeah, three incidents in 6 months.

Your mate will get used to it!!! ;O)
Lost count of the amount of times i've been woken by alarms. As long as it isn't the prepare to abandon!

Niger Delta:

In fact, more oil is spilled from the delta's network of terminals, pipes, pumping stations and oil platforms every year than has been lost in the Gulf of Mexico

But obviously it's not as important when it happens in Africa.

BP no longer operate there but have made plenty of money and fecked things up plenty previously.

I hope all those holier-than-thou people out there realise that about 1 in 6 of their pension pounds is invested in BP?

No pension here either. 🙂

So Stoner do you not care about massive environmental damage, as long as you get a good pension?

Er I think you find its Shell in the Niger Delta

Err, I think you'll find that BP and Shell were partners in the e&p in Ogoniland from the 50s right through to the 90s, and BP-Shell was one of the entities most criticised by Ken Saro-Wiwa.
http://www.hartford-hwp.com/archives/34a/022.html
http://books.google.com.au/books?id=y4tU–0W_-sC&pg=PA17&lpg=PA17&dq=bp-shell+wiwa&source=bl&ots=JhxKW7-YIN&sig=fjOmmh7V0lC5Nfxoi4Z8WxB1P28&hl=en&ei=1ysGTIGKLtCHkAXizuWFCw&sa=X&oi=book_result&ct=result&resnum=9&ved=0CDsQ6AEwCDgK#v=onepage&q&f=false

Having said that, I didn't understand whether iDave was being ironic. Actually, I couldn't understand wtf he was talking about at all.

Offshore oil & gas E&P is inherintly hazardous IMHO BP are being hung out to dry.

To a certain extent, yes, and BP is certainly one of the better companies. Their US competitors are gleefully cranking up the pressure. But on the other hand, they are also being hoist by (or is it on?) their own petard, as they (like all in their industry) have spent so much time lobbying to have restrictions on drilling in e.g. Alaska relaxed claiming that everything's so clean and safe now. A refusal to recognise the inherant risks in drilling was part of the "drill, baby, drill" meme in the US, and also part of Obama's facepalming "Oil Rigs Today Don't Generally Cause Spills" comment.

i was alluding to the fact that when it happens in a land far away inhabited by poor black people it's not a priority for govt, media or business

http://www.selftrade.co.uk/news-bp—1uBP..L&idNews=7731899#idNews=7731897

fill yer boots

still falling

BP knew they needed a BOP with two sets of rams but sent along a subcontractor with a drill ship only capable of handling a BOP with one set of rams according to one report I saw. That makes BP responsible as with only one set of rams you are taking a chance on the BOP closing the well if it starts to blow. If the rams hit a stand joint they can't cut through. With two sets of rams if one ram hits a joint you can be certain the other won't and will sever the stand and close the well.