An oil company of BP's scope can't operate outside of politics, but it seems entangled in a remarkable number of places. BP’s ready fall into the Russian embrace is fraught with danger, and it is a victim of deteriorating relations between the U.K. and UAE. It also remains bogged down in the Deepwater Horizon spill aftermath, but angry rhetoric seems to have been tempered in Azerbaijan. [View news story]
Apparently with all the bad press, now is the time to buy some BP.
More on the BP/Rosneft TNK-BP deal: The total value of the cash and Rosneft shares BP is getting sums to $26.8B at current market prices. With a 19.75% stake, BP expects to have 2 seats on the board and to be able to put on its books its share of Rosneft's earnings, production, and reserves. The WSJ's Andrew Peaple estimates the deal will leave BP with marginally lower production, but maybe higher oil and gas reserves. [View news story]
This looks good IF the reserves and directors part holds up.
BP confirms the sale of its 50% share of TNK-BP to Rosneft for $17.1B in cash and a 12.84% stake in Rosneft. BP intends to use $4.8B of the cash to buy an additional 5.66% of Rosneft from the Russian government, giving it a 19.75% stake in the company once the deal is complete. BP +1.3% permarket. (PR) [View news story]
I quess anything is better than the former partnership with those Russian billionaires. At least BP seems to have Putin ear....that's worth a lot in that country.
I too am a 1931 baby. We must be thinking alike. After the 2008 dive, I decided that in the future I would concentrate on investments that pay me a dividend or interest. No more trying to catch the next "star" for me. I found a home with the telecoms, oils, and the likes of PSEC, PCEF and a few BDC companies. As a safety net, I went with Vanguard's Wellington and corporate bond funds. So far so good.
Sell BP: Too Many Troubles Make The Stock A Value Trap [View article]
To Inspector: You are correct on all points. BP is slowly but surely recovering from the Mocando blowout. Their reserves are among the best. Selling BP now would be a huge mistake.
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An oil company of BP's scope can't operate outside of politics, but it seems entangled in a remarkable number of places. BP’s ready fall into the Russian embrace is fraught with danger, and it is a victim of deteriorating relations between the U.K. and UAE. It also remains bogged down in the Deepwater Horizon spill aftermath, but angry rhetoric seems to have been tempered in Azerbaijan. [View news story]
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More on the BP/Rosneft TNK-BP deal: The total value of the cash and Rosneft shares BP is getting sums to $26.8B at current market prices. With a 19.75% stake, BP expects to have 2 seats on the board and to be able to put on its books its share of Rosneft's earnings, production, and reserves. The WSJ's Andrew Peaple estimates the deal will leave BP with marginally lower production, but maybe higher oil and gas reserves. [View news story]
BP confirms the sale of its 50% share of TNK-BP to Rosneft for $17.1B in cash and a 12.84% stake in Rosneft. BP intends to use $4.8B of the cash to buy an additional 5.66% of Rosneft from the Russian government, giving it a 19.75% stake in the company once the deal is complete. BP +1.3% permarket. (PR) [View news story]
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