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EPA lifts ban blocking BP from new government contracts

  • BP +1.1% AH on news that the EPA is lifting the ban that prohibited the company from bidding on new federal contracts.
  • As part of the agreement, BP agrees to a set of safety, ethical and corporate governance requirements; the administrative agreement will remain in place for five years.
Comments (10)
  • Ajayyy
    , contributor
    Comments (329) | Send Message
     
    Everything has been positive about BP recently. I think below 50 is a great time to accumulate. Fundaments, technicals and sentiment are all very bullish. It's almost a no-brainer at this level; hard to go wrong with this after you consider the 6% dividend.
    13 Mar 2014, 05:14 PM Reply Like
  • Grant Payne
    , contributor
    Comments (310) | Send Message
     
    Their normalized PE ratio which discounts massive asset sales makes them look less enticing; but on the whole I agree, this is a company on the mend. Good long term prospects.
    13 Mar 2014, 05:19 PM Reply Like
  • bptrader
    , contributor
    Comments (10) | Send Message
     
    Right up to the point that sanctions go down on Russia, and it uses this as an excuse to steal BP Russian assets.
    13 Mar 2014, 05:28 PM Reply Like
  • Ajayyy
    , contributor
    Comments (329) | Send Message
     
    If the Russians start stealing assets among other potentially crazy actions, there are lots of bigger problems to worry about in this market than just BP.

     

    What I mean is that it's a risk that isn't exclusive to BP. So I wouldn't really worry about that.

     

    I actually own some puts for short-term to protect against any big events like the one you mentioned. BP puts are relatively cheap.
    13 Mar 2014, 05:33 PM Reply Like
  • MOYAM
    , contributor
    Comments (32) | Send Message
     
    I guess they figured out BP is the majority provider of fuel globally to the US Navy, Army, Marines, and Air Force.
    13 Mar 2014, 05:41 PM Reply Like
  • 11146471
    , contributor
    Comments (985) | Send Message
     
    BP holds enormous assets in Russia as they are currently the second largest shareholder of Rosneft.

     

    they hold about 20% while the Russian Federation is holding around 70%, with the rest 10% at free float.
    13 Mar 2014, 06:07 PM Reply Like
  • samkon
    , contributor
    Comments (99) | Send Message
     
    Rosneft seems to need BP technology advantage..

     

    Ajayy 100% agree.

     

    Long BP
    14 Mar 2014, 03:12 AM Reply Like
  • SSGAJ
    , contributor
    Comments (191) | Send Message
     
    Many corporations take short cuts in order to increase revenues and profits. We all are aware of this ... nothing new.

     

    Sometimes it is advantageous to take a hard-look at a company that was caught with their pants around their ankles. Perhaps, they now are the best of the breed to do business with, just because they have learned a hard costly lesson. If it is perceived that they have indeed changed their management values, practices and policies, for the betterment of all not just themselves, than I would bring them back into play.

     

    You see this occuring in other walks of life, therefore one would be remised if they did not take this into consideration and move on with all matters in a more positive fashion.

     

    I am betting that they have changed their business acumen and because of this are more focused in ensuring that do not make similar mistakes in the way the undertake business ventures.

     

    Another viewpoint which others may have as well, is that possibly judge Barbier and others have orchestrated holding BP solely accountable for the oil spill, due to the fact that it is more effective and efficient to lodge a legal fight against one entity than several. After all, he did comment in the beginning that this would not linger on like the Valdez spill. Personally, I strongly feel that this was their strategy. Although, it is a very self-serving one and borders on being illegal, it has worked well for them. If this ever goes to the Supreme Court and a thorough investigation is not conducted, this will gravely marr our legal system, not only in US but throughout the world. The ugly politics are just about as bad of the tragic oil spill.
    Personally, I fell other oil companies should have had their feet held to the fire, not just BP, but the focus was on one... How convenient.
    Let's hope the final outcome is just for all. Their are many people in play and a lot at stake.
    14 Mar 2014, 08:48 AM Reply Like
  • Mike Serebrennik
    , contributor
    Comments (863) | Send Message
     
    " Perhaps, they now are the best of the breed to do business with, just because they have learned a hard costly lesson. "

     

    100% agree.
    14 Mar 2014, 11:51 AM Reply Like
  • spike77
    , contributor
    Comments (105) | Send Message
     
    BP's Russian holding - the problem with Russia is that you own what you own until someone powerful and connected wants it. Treat with care.
    15 Mar 2014, 09:27 AM Reply Like
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