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(BP) BP General Share Chat

Discussion in 'General Share Chat' started by Microem1, Nov 6, 2015.

  1. Microem1

    Microem1 Administrator

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    (BP) BP General Share Chat
     
  2. Mongoose82

    Mongoose82 A Legendary Member

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    Broker note out this morning about Macondo bill raise

    AlphaValue - Final bill at $61.6bn for Macondo

    "BP announced last week it would raise an additional $5.2bn for its costs from the 2010 Gulf of Mexico oil spill. This would drive the total costs to $61.6bn (or $42bn after tax).

    Analysis
    The good news is that, according to BP, this is the last material impact from the Deepwater Horizon. The figure remains however massive, equivalent to six years of profit according to our expectation for 2018. Nevertheless, as the disposal ($40bn), due to this bill, has mainly been done before the oil price collapse, we expect that it counts for four years of profit.

    Impact
    The second quarter 2016 results will integrated this latest figure. We will update our model after the publication release. After tax, the charge will amount to about $2.5bn."

    Https://www.research-tree.com/Company/GB0007980591
     
  3. Mongoose82

    Mongoose82 A Legendary Member

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    "BP reported a Q2 16 clean net income of $720m, 15% below the consensus. The reported cost loss was $2.2bn mainly due to the Macondo charge of $2.8bn. The upstream results came in negative at $100m, vs. a $1.2bn loss in Q1 16. Production came down by 1% to 2.090mbpd and should be lower in Q3 due to the seasonal turnaround and maintenance activities and the impact of the Gulf of Mexico. Downstream earnings were still significant at $1.4bn, down 20% yoy. Rosneft’s earnings contribution for BP was $246m, up from $66m in Q1 16. Net cash flow from operating activities was $5.3bn (excluding Macondo) while capex was $4.3bn, and the cash dividend was $1.1bn. Net debt stood at $31bn with a gearing of 25%. The dividend is unchanged at USc10."

    Https://www.research-tree.com/compa...bbl-refining-no-longer-helps-in-q3-26-07-2016
     

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