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GasBuddy News Article

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BP Risks Losing Status as Top Energy Firm with Sale of Prime Assets

OilPrice.com -- BP risks losing its status as one of the largest and most diverse energy firms in the world as the 2010 Deepwater Horizon oil spill continues to haunt it.

BP has been selling various assets in order to raise the $38 billion, equal to two years profits at current oil prices. As expected the less important oil and natural gas fields were the first to be sold, as well as the less profitable alternative energy assets such as BP’s wind farm division. However the latest batch of sales will have shareholders very worried. BP has now begun divesting its prime assets, including its stake in the profitable Gulf of Mexico deepwater oil fields.


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Submitted Aug 21, 2012 By: NOTSOGRN
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: BP Risks Losing Status as Top Energy Firm with Sale of Prime Assets Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

Posts:24,017
Points:2,383,440
Joined:Nov 2008
Message Posted: Aug 26, 2012 6:28:20 AM

time for BP to stop being the Big Pretender and either do something or get out?
Stevedog
Champion Author Michigan

Posts:5,112
Points:2,200,115
Joined:Jul 2006
Message Posted: Aug 22, 2012 3:45:20 PM

They have been having a lot of screwups
tomok
Champion Author Portland

Posts:46,172
Points:3,119,085
Joined:Aug 2006
Message Posted: Aug 22, 2012 4:20:59 AM

When you murder your workers, have total disregard for human life and create one of the worst environmental oil spill disasters in US Gulf history, then pay for it with your blood and ass-ets! Sell off your holdings, raise money any way you can and Pay, Pay, Pay! Take a hit in your pocket book like many other people have with your gas prices and suffer. There are other oil companies that can take up your slack and produce just as good of oil, fuel and byproducts. The consumers of BP's products will get to help pay for this huge fine!
Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
12/22/2012!
rahcat
Champion Author Grand Rapids

Posts:5,940
Points:1,436,525
Joined:Jan 2010
Message Posted: Aug 21, 2012 11:25:27 PM

Some you win and some you lose.
boatfloyd
Champion Author Jacksonville

Posts:4,997
Points:1,161,965
Joined:Mar 2012
Message Posted: Aug 21, 2012 11:10:45 PM

Sounds like the new share holders will be paying the $38 billion.
heartbroken2010
Champion Author Ottawa

Posts:7,551
Points:1,670,085
Joined:Aug 2010
Message Posted: Aug 21, 2012 11:05:33 PM

Ongoing saga here.
FXRider94
Veteran Author New Jersey

Posts:336
Points:1,833,205
Joined:Jul 2009
Message Posted: Aug 21, 2012 11:04:18 PM

There are not too many BP's in South Jersey, so I wouldn't have even noticed, if they all shutdown...
Aviator_Rob
Champion Author New York

Posts:7,451
Points:1,170,080
Joined:Mar 2012
Message Posted: Aug 21, 2012 10:55:55 PM

BP can get a bailout from the Queen.

The company's name is BRITISH Petroleum, after all.
chen94539
Sophomore Author Oakland

Posts:192
Points:1,379,310
Joined:Jul 2010
Message Posted: Aug 21, 2012 10:55:20 PM

it should pay for the mistake.
us4usa
Champion Author Missouri

Posts:7,158
Points:1,561,250
Joined:May 2008
Message Posted: Aug 21, 2012 10:45:59 PM

Sounds like BP may needs a bail out from Uncle Sam???
A2J
Champion Author Richmond

Posts:6,136
Points:1,330,950
Joined:Aug 2011
Message Posted: Aug 21, 2012 10:44:57 PM

BP going down
Agarre
Champion Author Richmond

Posts:1,995
Points:428,065
Joined:Feb 2012
Message Posted: Aug 21, 2012 10:41:13 PM

BP
bigdipperMS
Champion Author Mississippi

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Joined:Apr 2011
Message Posted: Aug 21, 2012 10:40:01 PM

You can bet that upper management will not be affected. Stock holders may be the only ones to be hurt.
Aviator_Rob
Champion Author New York

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Points:1,170,080
Joined:Mar 2012
Message Posted: Aug 21, 2012 10:38:43 PM

Was there really much competition in the first place, @suzmar? It sure seems like all of the oil companies move in lockstep with each other anyway.

And don't worry too much about the BP oil workers. Most of them were third party contractors. They'll find work with the other companies.
Aviator_Rob
Champion Author New York

Posts:7,451
Points:1,170,080
Joined:Mar 2012
Message Posted: Aug 21, 2012 10:35:24 PM

I hope the other oil companies are taking notice. This is what happens when you cut corners in order to meet earnings expectations.

I wonder if Tony Hayward has to sell his racing yacht.
abcdMA
Champion Author Worcester

Posts:11,102
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Joined:Nov 2008
Message Posted: Aug 21, 2012 10:34:10 PM

that's business
Gazstation
Champion Author Montreal

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Message Posted: Aug 21, 2012 10:33:56 PM

British petrolum, irak petrol.
gsayeg1
Champion Author Milwaukee

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Joined:Jun 2008
Message Posted: Aug 21, 2012 10:30:22 PM

could not happen to a nicer bunch of guys
mstearno
Champion Author Dayton

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Joined:Jan 2008
Message Posted: Aug 21, 2012 10:25:08 PM

really?
OGW
Champion Author London

Posts:7,135
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Joined:Sep 2005
Message Posted: Aug 21, 2012 10:24:15 PM

If the BP investors were not worried after the Gulf spill they are one clueless bunch.
nj2000ng
Champion Author Houston

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Joined:Jan 2010
Message Posted: Aug 21, 2012 10:23:45 PM

BP will still remain big.
wayoung56
Champion Author Alabama

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Joined:Oct 2006
Message Posted: Aug 21, 2012 10:22:43 PM

Interesting article...
Blue48
Champion Author Illinois

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Joined:Feb 2007
Message Posted: Aug 21, 2012 10:21:08 PM

WHATEVER!
J4romeo
All-Star Author Gary

Posts:510
Points:1,235,530
Joined:Jan 2006
Message Posted: Aug 21, 2012 10:19:58 PM

and now with the area BP refinery sending out about 2mil gals in bad gas in the Chicago land area..:(
mdskier
Champion Author Sacramento

Posts:11,177
Points:2,043,150
Joined:Aug 2005
Message Posted: Aug 21, 2012 10:18:51 PM

Selling their Gulf of Mexico deepwater oil fields is the right
move since they really botched that one.
suzmar
Champion Author Texas

Posts:3,497
Points:1,444,015
Joined:Jun 2006
Message Posted: Aug 21, 2012 10:18:33 PM

So people would rather they go out of business, thousands would lose their employment and prices would rise even more because there would be less competition.
CocoPaz
Champion Author Santa Barbara

Posts:7,640
Points:1,096,905
Joined:Jun 2012
Message Posted: Aug 21, 2012 10:15:33 PM

Don't cry for me, World Economy....(set to the tune of Don't cry for me, Argentina)
whaboush
Champion Author Richmond

Posts:1,256
Points:800,195
Joined:Nov 2010
Message Posted: Aug 21, 2012 10:15:12 PM

They should not be up there
itsjustme719
Champion Author Hamilton

Posts:2,256
Points:1,294,910
Joined:Dec 2010
Message Posted: Aug 21, 2012 10:13:58 PM

Two years profits? That's their penalty for the disaster they caused? Should be much more.
Panama Red
Champion Author San Diego

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Joined:Jun 2004
Message Posted: Aug 21, 2012 10:13:33 PM

BP gets no sympathy from me.
Tekkersmom57
Champion Author Syracuse

Posts:5,081
Points:1,468,080
Joined:May 2010
Message Posted: Aug 21, 2012 10:13:08 PM

When a mistake happens, you need to own up to it. Sometimes that costs lots of money and time.
BANZAI56
Sophomore Author Columbus

Posts:105
Points:1,032,425
Joined:Jun 2005
Message Posted: Aug 21, 2012 10:12:46 PM

Good...
MG_Sputnik
Champion Author Philadelphia

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Message Posted: Aug 21, 2012 10:11:26 PM

Who gives a crap?
phthisin
Rookie Author New Hampshire

Posts:62
Points:1,423,315
Joined:Dec 2010
Message Posted: Aug 21, 2012 10:11:20 PM

Bp's status lately has not been basaed on size, but on its ineptitude.
Shakleelady31
All-Star Author Fort Wayne

Posts:660
Points:1,027,860
Joined:Jan 2012
Message Posted: Aug 21, 2012 10:09:52 PM

Okay.
OOXXFF
Champion Author Greensboro

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Joined:Sep 2009
Message Posted: Aug 21, 2012 10:07:54 PM

Do you feel sorry for BP?
pgerassi
Champion Author Milwaukee

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Joined:Apr 2007
Message Posted: Aug 21, 2012 10:04:43 PM

OK
TekWare
Champion Author Toronto

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Joined:May 2011
Message Posted: Aug 21, 2012 10:02:13 PM

Wish I could screw up that much and still be number one.
danreino
Champion Author Twin Cities

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Points:1,838,480
Joined:Mar 2008
Message Posted: Aug 21, 2012 10:01:55 PM

SaudiAramco next up to bat ? i dunno
Lukus
Champion Author Halifax

Posts:11,349
Points:2,424,640
Joined:Nov 2007
Message Posted: Aug 21, 2012 10:01:42 PM

ok
knot2swift
Champion Author Calgary

Posts:6,317
Points:1,090,920
Joined:Nov 2009
Message Posted: Aug 21, 2012 10:01:13 PM

It's not just governments and countries.

Business Empires rise and fall all the time.

At the top of the food chain, Apple is number one just now. Who knows where they will be 10 years from now.
JLSindy
Champion Author Cleveland

Posts:5,882
Points:1,405,480
Joined:Aug 2005
Message Posted: Aug 21, 2012 9:59:51 PM

I agree with most of what everyone says.
lewpuckett
Champion Author Georgia

Posts:1,515
Points:1,250,065
Joined:Mar 2011
Message Posted: Aug 21, 2012 9:59:22 PM

wow a good life losing prime assets and still making $20 billion this QUARTER
96sc1
Champion Author El Paso

Posts:8,518
Points:1,367,835
Joined:Mar 2008
Message Posted: Aug 21, 2012 9:56:18 PM

Being number one makes a company such a target anyway.
g747
Champion Author Mobile

Posts:7,541
Points:1,651,115
Joined:Jul 2009
Message Posted: Aug 21, 2012 9:53:18 PM

The Gulf Oil spill cost a lot of heavyduty Loot!!!!!.
jackster111
Champion Author North Carolina

Posts:8,311
Points:1,159,775
Joined:Feb 2012
Message Posted: Aug 21, 2012 9:52:15 PM

okay
SalukiCO
Sophomore Author Colorado Springs

Posts:204
Points:482,770
Joined:Jun 2012
Message Posted: Aug 21, 2012 9:47:11 PM

Poor BP. I sure Romney will just increase their government subsidies (welfare) to make up the difference.
FunMyster
All-Star Author Indiana

Posts:912
Points:74,315
Joined:Jul 2011
Message Posted: Aug 21, 2012 9:45:26 PM

ok
WinderGuy
Champion Author Georgia

Posts:5,369
Points:1,642,730
Joined:Mar 2008
Message Posted: Aug 21, 2012 9:43:02 PM

Ok
mysub
Champion Author Las Vegas

Posts:11,735
Points:3,084,750
Joined:Apr 2006
Message Posted: Aug 21, 2012 9:40:09 PM

I'm crying me a river.
Bleeder
Champion Author Virginia

Posts:8,121
Points:2,267,865
Joined:Jan 2008
Message Posted: Aug 21, 2012 9:35:56 PM

I am not so sure that status means too much to them right now.
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