BP Holdings Global Barcelona Spain – DAILYMOTION



BP America, Inc. announced today it will donate $1 million to support disaster relief efforts in Louisiana and Mississippi following Hurricane Isaac.

The donation will be made to the American Red Cross and The Salvation Army and divided equally between the two hardest-hit states.

“This assistance cannot fix all that has been broken by this natural disaster, but we hope it can help some of those in need today and contribute to a sustained recovery effort in the months ahead,” said Crystal E. Ashby, Executive Vice President of Government and Public Affairs for BP America.

The storm forced BP to evacuate workers from offshore platforms and drilling rigs in the Gulf of Mexico, as well as from onshore facilities in south Louisiana and Mississippi, where hundreds of BP employees live.

Separate from this donation, BP is also providing assistance to our employees and their families in the region.


BP back on the road to recovery, BP Holdings



BP has overcome the biggest setback in its history to put itself in a position to reward shareholders with strong fundamental growth once more, says The Share Centre’s Graham Spooner.
The oil giant lost 53 per cent of its value in the two months that followed the Macondo disaster. The Deepwater Horizon explosion caused the largest spill in the petroleum industry’s history but Spooner believes that recent moves by BP’s management should secure its future.
“BP is still in the realms of transforming itself from the company it was prior to the Gulf of Mexico oil spill,” he said. “It plans to sell off more low-returning assets and invest in those which have higher growth opportunities. Growth seekers will be pleased to hear the company plans to invest $45bn in future projects.”
The stock has been out of favour among much of the industry following two tumultuous years that saw it cut its dividend and put it in the firing line of US politicians.
However, it has been a long-time favourite of M&G Recovery’s Tom Dobell. The FE Alpha Manager believes the company, which was built to be profitable when oil is just $60 a barrel, believes the road to recovery can still be a profitable one, provided the management can resolve the legal issues and avoid becoming a target of competitors.
Speaking to FE Trustnet last month he said: “The valuation of the business should imply a share price greatly higher than it is at now and unless the management gets its act together reasonably quickly, it is going to become lunch for somebody else in the industry.”
Spooner claims that BP has now staved off this threat with a series of major upgrades that have all boosted the share price.
“2011 was a year of consolidation for BP and it has now set itself on a recovery trajectory,” he said. “Dividends have been reinstated and between now and 2014 it expects to return to production in the Gulf of Mexico.”
“It also aims to continue growth of downstream operations earnings momentum, improve the margin mix of the portfolio, reduce uncertainties on the Gulf of Mexico liabilities, upgrade the Whiting refinery and complete 15 major upstream projects. Should these projects succeed, operating cash flow could improve by 50 per cent.”
Data from FE Analytics shows that the stock has lost more than 13 per cent over the last 18 months. BP has so far struggled to gain a foothold as uncertainty over its future still dominates its valuation.
However, Spooner believes BP’s recent decision to sell its 50 per cent stake in TNK-BP, the joint venture with Alfa Access Renova and a consortium of Russian billionaires, is likely to pave the way for some serious investment in the business.
“TNK-BP is a significant asset; it represents 30 per cent of BP’s total production and paid out $3.75bn in dividends to BP in 2011, compared to the $4.1bn BP paid out to its shareholders.”
“The cash generated from the sale would have many uses; it could either be returned to shareholders or used to pay off debts or held back for other projects. The new business should then be smaller but more streamlined, allowing it to focus on recovery from the Gulf of Mexico disaster.”
He added: “We believe that BP will achieve the much needed turnaround and should achieve a fair price for TNK-BP. With the recent pull-back in the share price, there is now more value to be had for long-term investors and we are therefore upgrading our recommendation to a ‘buy’.”
Our data shows that 385 of the 3,186 funds in the open-ended universe – or 12 per cent – list BP in their top-10 holdings.


BP And Tony Hayward Are Now A Nigerian Scam: Letter, BP Holdings



THE BP oil spill in the US Gulf is now a Nigerian scam:
From: Dudley Caruthers Esq (Barrister at Law)
Subject: BP Related Agreement Entitlement
Dear Friend
I am the private solicitor for Mr Tony Hayward, the esteemed Chairman and Chief executive of British Petroleum. My client has various personal and family related holdings of BP stock and options. Due to his faithful long standing service to BP the total value of his holdings amounts to in excess of 100m pounds sterling. Mr Heywood is a British citizen but it has been my sorrowful duty to advise him that his personal and family wealth is at great risk of being wrongfully confiscated by US authorities acting extra-territorially under special powers authorised by the US government and with the secret consent of a supine UK political and legal establishment.
Mr Heywood is also at great risk of losing his personal liberty and becoming another victim of the long reach of the politicised USA legal system in the same way that was meted out to other British subjects including, most egregiously, the 3 bankers from Natwest. Unfortunately I am not able to advise or assist him in this regard as my expertise lies in the structuring of executive compensation schemes and the management of private endowments; but I am horrified at the witch hunt being perpetrated on my client by the Obama administration and its agencies and I will do all that I can to safeguard my client’s financial position.
I am reaching out to you as it has become clear that Mr Hayward’s holdings must be liquidated and held in trust for the benefit of himself and his family beyond USA or UK legal jurisdiction. Exercise of his options and liquidation of his stock is now complete but it has proven necessary to assign title to the ensuing 100m pounds of cash to a person such as yourself who resides in a non recognised tax haven country and where there is a sound basis for UK and USA authorities to recognise the legal validity of local agreements. The taxation and legal recognition agreements between your jurisdiction of Australia and those of UK and USA present a unique opportunity to protect these assets whilst providing you with a benefit in accordance with your key role. I am a keen reader of your blog and greatly admire your economic and political acumen. I immediately recognised that, at this hour of great urgency and risk to my client, you are the man who is capable of securing protection of the Hayward estate.
It is with this in mind that I wish you to consider the possibility that you and I (as Mr. Hayward’s agent) have previously entered into verbal agreements providing for you to become the beneficiary of all Mr Hayward’s BP stock and stock option benefits upon their occurring a significant “force majeure” event affecting my client and British Petroleum. It is my legal interpretation that such an event occurred with the sinking of Deepwater Horizon and that title to Mr Hayward’s rights and holdings transferred at that time.
If you do recollect our agreement then it is now necessary to transfer the 80m pounds of cash proceeds to yourself which are after payment of a 20m pound advisory and arrangement fee for the services rendered by my firm. Transfer of the cash will only occur to you upon you executing the correct documents which are (i) the force majeure beneficiary transfer agreement (ii) a statutory declaration that the force majeure beneficiary transfer agreement was properly entered into as a verbal agreement in January 2002 and (iii) details of your Australian bank account including account name, password and account number and most critically an agreement between yourself and myself as trustee for Hayward related entities granting the trustee the right to claw back 50% (40m pounds) of the transfer at any time and requiring you to escrow the 40m pounds in a separate account.
I sincerely trust that you will search your memory and recollect that we met in Sydney in 2002 and recollect the nature of our agreement.
Please contact me at my firm’s Nigerian subsidiary’s offices at the address below such that we can act with the speed required of us.
Anyone got Barack Obama’s account details?


B.P. Acharya seeks bail as time limit for probe ends, BP Holdings



Suspended IAS officer B.P. Acharya on Friday advanced an argument in court seeking bail as the three-month time limit set by the High Court for the CBI to complete the investigation against him in the Emaar township scam ended on August 23. Moreover, the ‘mastermind’ of the scam, by the CBI’s own admission – Koneru Prasad – was recently given bail by the High Court, Acharya’s counsel V. Surender Rao informed the court. This is the third bail application by Acharya since his arrest on January 30.

Mr. Rao said the arrest of his client itself was malafide as a voluminous charge-sheet in the case was filed by the CBI within two days of picking him up.

“The charge-sheet could not have been written in those two days when he was in the custody of CBI.”

Approval not sought

Moreover, the CBI did not seek approval of the Central government in investigating charges against him as required by the Delhi Special Police Establishment Act which was enacted for the purpose of corruption cases.

He reminded the court about a judgment of the Supreme Court which said that the trial courts need not consider the danger of accused tampering evidence if they were released after the charge-sheet was filed.

No pecuniary advantage

The allegations against Acharya were in the nature of omissions and commissions which did not result in any pecuniary advantage to him, he added.

Tata Power Renames Solar Unit, BP Holdings



NEW DELHI — Tata Power Co. 500400.BY -1.40% Thursday said it has renamed its solar-energy venture and appointed a new chief executive for the unit.

Tata BP Solar India Ltd. will now be called Tata Power Solar Systems Ltd., the country’s largest private power company by capacity said in a statement.

The utility had in December signed an agreement to buy BP PLC BP.LN -2.92% unit BP Alternative Energy Holdings’ 51% stake in the joint venture set up in 1989.

Tata Power said it has appointed Ajay Goel as the chief executive of the solar company. Mr. Goel succeeds K. Subramanya, who had resigned in May.

Tata Power Solar is engaged in the engineering and construction of solar-power projects. It also manufactures solar equipment.