Say what You want to BP

BP Group

by SkyTruth

Article by Tony Robins

London equities traders were once more focused on the implications of deals on the market on Monday, with shares in BP topping the FTSE 100. BP agreed on Friday to form a joint venture with Russia’s largest oil producer, state-controlled Rosneft, to develop three massive offshore exploration blocks Rosneft owns in northern Russia. As part of the deal, which comes four months after BP plugged a blown-out well in the Gulf of Mexico that caused the United States’ worst ever oil spill, BP will swap a 5 percent stake in itself for a 9.5 percent stake in Rosneft.

BP is mostly British AND American – 40% shareholders are British and 39% are US. Thus 21% are owned by shareholders in a number of other countries. Hence, it is, arguably, not a British or American company in the true sense but a multinational one.

Note also, while the CEO is British, the Chairman is Swedish.

While the parent company of the BP plc is registered in Britain, different parts of the BP Group are registered companies in different countries, including the USA, Britain and Russia, to name just three.

BP said that it will explore Exploration Permit for Petroleum (EPP) areas EPP 37, EPP 38, EPP 39 and EPP 40 covering an area of 24,000 km2 for oil and gas reserves, with the right to develop any commercially viable discoveries. “This is a material and early move into an unexplored deepwater basin,” said Mike Daly, Executive Vice President of Exploration for BP. “The Ceduna Sub Basin is a very exciting new exploration area for BP. Our experience tells us that the geology has a high potential for containing hydrocarbons,” added Dr Phil Home, Managing Director of BP’s Australian upstream oil and gas business. BP said that the proposed exploration activity would be phased over 6 years and, as part of the regulatory approval process, would be subject to detailed environmental assessment.

Read more: https://sites.google.com/site/companyeye/research-reports/uk-market

About the Author

Day Trader and Market Analyst http://www.companyeye.co.uk

BP Threaten Congress to Give Up on Offshore Drilling Legislation

BP says if Congress passes any legislation banning drilling in the Gulf of Mexico, the potential legislation could prevent BP from paying back funds related to the oil spill
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BP Explosion Lawyer Says Oil Giant No Stranger to Disasters


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BP Explosion Lawyer Says Oil Giant No Stranger to Disasters

Deepwater Horizon Seconds Before It Sank

Houston, TX (PRWEB) May 5, 2010

As the oil spill from the Deepwater Horizon rig explosion continues to expand and approach land, eyes focus more on one of the companies that could be responsible: British Petroleum (BP). One veteran BP explosion lawyer is not surprised.

“Ironically, the oil company known worldwide for its ‘green’ logo and ‘environmentally-conscious’ production efforts has a history of serious accidents, making it no stranger to disasters like the one that occurred April 20, 2010”, says rig explosion attorney Ryan Zehl of Fitts Zehl, LLP in Houston.

In March 2005, a BP refinery in Texas City, Texas exploded killing 15 workers and injuring thousands. Subsequent investigations revealed BP ignored its own safety protocols regarding the operation of the ISOM unit and powered it with a disabled warning system. As a result, the U.S. Environmental Protection Agency (“EPA”) fined BP more than $ 50 million (the largest fine in history) after BP pleaded guilty to federal charges.

Although the company promised to “clean up” its act, it continued to cut corners. One year later a hole was discovered in BP’s Prudhoe Bay, Alaska pipeline. This hole allowed an estimated 4,800 barrels of oil to leak into the ground. BP was fined again—this time $ 12 million for violating the Federal Water Pollution Control Act — after a congressional committee found the company failed to seize opportunities that would have prevented the leak.

While still too early to know what exactly caused the Deepwater Horizon explosion, it has already been alleged that both BP and Transocean, the actual owner of the rig operated by BP at the time of the blast, could have utilized backup safety equipment (i.e., a remote switch that might have stopped the flow of oil at its source) some 5,000 feet below the surface of the ocean. While the device is not mandated under U.S. law, it is often used in the industry and required in other parts of the world where BP drills.

“With such an extensive record of putting profit over safety and the welfare of our environment, it’s hardly surprising that the workers who tragically lost their lives and were injured during the Deepwater Horizon explosion, as well as everyone living along the Gulf Coast, are forced to deal with yet another disaster, said Zehl.

About Fitts Zehl:    

Fitts Zehl LLP is a national maritime and personal injury law firm that represents workers injured in offshore and other work place explosions. The maritime lawyers recovered millions in damages on behalf of injured offshore and refinery workers in connection with three of the largest work place explosions since 2005. For a free consultation with a BP explosion lawyer call 1-800-993-4887.

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Find More Bp Offshore Press Releases

What does BP stand for, regarding the recent offshore drilling tragedy?

Question by mellonz: What does BP stand for, regarding the recent offshore drilling tragedy?
I read about the oilspill every day, but don’t know what the BP stands for when referring to the responsible corporation.

Best answer:

Answer by Dianne
Britsh Petroleum

Give your answer to this question below!

Since 2001 BP 69 offshore deaths, 1,349 injuries and 858 fires and explosions in the Gulf?

by SkyTruth

Question by boogielips: Since 2001 BP 69 offshore deaths, 1,349 injuries and 858 fires and explosions in the Gulf?
Why is Obama being blamed?

Best answer:

Answer by The Return of the Ghost of Hunghugely
Because he has been the President for TWO years now.

If this was Bush’s mistake; he had two years to correct them.

He has been in the Oval Office for two years with a Democratic majority that has been in place for eight years. The successes and failures belong to him.

Obama and his cult followers need to stop making excuses.

Give your answer to this question below!

Nice Bp Offshore photos

A few nice bp offshore images I found:

Deepwater Horizon Oil Spill – FSU Sampling Cruise – June 22, 2010

Image by SkyTruth
Smoke plumes from spill-response crews gathering and burning oil in the Gulf of Mexico near the site of the leaking Macondo well.

Photo taken June 22, 2010. Photo courtesy Dr. Oscar Garcia / Florida State University.

Thanks BP

Image by fsgm

One year after the spill, BP is looking strong

d BP oil leaking

Image by dmixo6

One year after the spill, BP is looking strong
One year after the massive spill, BP is making strong profits again, its stock has largely rebounded, and it is paying dividends to shareholders once more.
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Pointe Au Chien Indian Tribe Sues BP Over Spill Damages, Fishing Losses
BP Plc was sued by the Pointe Au Chien tribe over claims the Indian group’s ancestral lands and fishing grounds in southern Louisiana were devastated by the 2010 oil spill.
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