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25/10/2011
$5.1bn Profits Mark BP 'Turning Point'
BP has declared the last three months are a "turning point" as it announced profits for the last quarter of $5.1 billion.
The group's chief executive Bob Dudley said the company had reached "a clear turning point" following progress made through 2011 in "reshaping and focussing the company", creating a "stronger and safer" BP able to deliver both sustainable growth and higher shareholder returns.
The oil giant said it planned to double explorations, and while cash flow was expected to grow some 50% by 2014, they were also on track to deliver "record earnings".
The unexpectedly strong results come only just over a year after the Gulf of Mexico Deepwater Horizon disaster that saw 4.9 million barrels of crude oil spew from a deepwater reservoir in the gulf's waters that killed 11 BP contractors and caused extensive damage to marine and wildlife habitats.
Speaking about the turnaround, Bob Dudley said: “BP was severely tested by the Deepwater Horizon accident. It is now over a year since the well was finally sealed and we have continued to respond with a strong sense of corporate responsibility.
"I believe we are living up to our commitments in the Gulf; learning, applying and sharing the lessons of the accident; restructuring BP and putting safety and risk management at the absolute heart of our operations. This will further de-risk the firm.”
Dudley said that during 2011, BP had settled all claims related to the incident and is providing settlement payments totalling $5.1 billion. BP’s payments into the Trust Fund are now expected to be complete by the end of 2012.
BP has begun drilling rig operations once more in the US Gulf of Mexico with three deepwater rigs at work on plugging and abandonment activities and last week received approval for the exploration plan for the Kaskida field.
(DW)
The group's chief executive Bob Dudley said the company had reached "a clear turning point" following progress made through 2011 in "reshaping and focussing the company", creating a "stronger and safer" BP able to deliver both sustainable growth and higher shareholder returns.
The oil giant said it planned to double explorations, and while cash flow was expected to grow some 50% by 2014, they were also on track to deliver "record earnings".
The unexpectedly strong results come only just over a year after the Gulf of Mexico Deepwater Horizon disaster that saw 4.9 million barrels of crude oil spew from a deepwater reservoir in the gulf's waters that killed 11 BP contractors and caused extensive damage to marine and wildlife habitats.
Speaking about the turnaround, Bob Dudley said: “BP was severely tested by the Deepwater Horizon accident. It is now over a year since the well was finally sealed and we have continued to respond with a strong sense of corporate responsibility.
"I believe we are living up to our commitments in the Gulf; learning, applying and sharing the lessons of the accident; restructuring BP and putting safety and risk management at the absolute heart of our operations. This will further de-risk the firm.”
Dudley said that during 2011, BP had settled all claims related to the incident and is providing settlement payments totalling $5.1 billion. BP’s payments into the Trust Fund are now expected to be complete by the end of 2012.
BP has begun drilling rig operations once more in the US Gulf of Mexico with three deepwater rigs at work on plugging and abandonment activities and last week received approval for the exploration plan for the Kaskida field.
(DW)
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09 April 2008
Bradley Jailed For Multiple Murders
David Bradley, an ex-soldier who killed four members of his family, will serve at least 15 years in jail. Bradley was sentenced to four life sentences at Newcastle Crown Court. Bradley, 41, shot his uncle, aunt and two cousins at close range with a handgun he reportedly smuggled back from Bosnia while serving in the Army, in July 2006.
Bradley Jailed For Multiple Murders
David Bradley, an ex-soldier who killed four members of his family, will serve at least 15 years in jail. Bradley was sentenced to four life sentences at Newcastle Crown Court. Bradley, 41, shot his uncle, aunt and two cousins at close range with a handgun he reportedly smuggled back from Bosnia while serving in the Army, in July 2006.
31 July 2012
BP Profits Slump
BP has reported a sharp fall in profits in the second quarter of the year. This comes after the oil giant was forced to cut the value of a number of its key assets. The replacement cost profit was $238m (£151m) in the April to June quarter compared to last years $5.4bn profit.
BP Profits Slump
BP has reported a sharp fall in profits in the second quarter of the year. This comes after the oil giant was forced to cut the value of a number of its key assets. The replacement cost profit was $238m (£151m) in the April to June quarter compared to last years $5.4bn profit.
27 July 2010
Greenpeace Shuts London BP Forecourts
Greenpeace activists have closed down BP filling stations in London. The campaign group claimed that 50 stations were closed, but the oil company said that 35 were affected by the protests, but 18 have now reopened. The activists are believed to have used a shut-off switch to cut the flow of fuel at the stations.
Greenpeace Shuts London BP Forecourts
Greenpeace activists have closed down BP filling stations in London. The campaign group claimed that 50 stations were closed, but the oil company said that 35 were affected by the protests, but 18 have now reopened. The activists are believed to have used a shut-off switch to cut the flow of fuel at the stations.
02 May 2003
BNP treble council seats in England
The British National Party (BNP) have almost trebled the number of local council seats held by the extreme right-wing party. The BNP won five seats in Burnley, taking their total number of councillors to eight and making them the official opposition on the Labour controlled council.
BNP treble council seats in England
The British National Party (BNP) have almost trebled the number of local council seats held by the extreme right-wing party. The BNP won five seats in Burnley, taking their total number of councillors to eight and making them the official opposition on the Labour controlled council.
30 November 2010
BP 'Comes Clean' As World TV Films Oil Spill
One of the more unusual subjects to make it to a feature length movie has been outlined. Oil giant, BP is commissioning a film about the Deepwater Horizon oil spill, but the British-owned company has insisted that it is not intended to scrub its reputation clean.
BP 'Comes Clean' As World TV Films Oil Spill
One of the more unusual subjects to make it to a feature length movie has been outlined. Oil giant, BP is commissioning a film about the Deepwater Horizon oil spill, but the British-owned company has insisted that it is not intended to scrub its reputation clean.
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