US continues BP: what the analysts are saying

A platform helping the capping of deep horizon in July oil leakage. Photo: AP

The evolution of securities analysts describe as "inevitable": development

"Announced last night by the American Government who is it BP Anadarko, Mitsui and Transocean on the occurrence of Macondo is hardly a surprise." In sanitation Act fines range is between US $1,100 (£ 705) and US $4,300 per barrel with the upper end depends on negligence be proven.

"As we wrote before, we believe gross negligence will be difficult to prove and a fine at the lower end of the beach is more likely (c. US$ 4 - emissions depending on numbers of barrels paid, which is currently being challenged)."

Oriel securities analysts have agreed that the action is not surprising and retained their "buy" on BP, saying:

"This action is not surprising and at this stage, it seems that BP made adequate provisions for the likely costs provision of negligence is not proven."

Jason Kenney, an analyst at ING, stated:

"Even that there can be nothing new to the claims expected stock of the PB process in our modeling - see trade pressure today, if the market and not for evil interpreted this as an additional burden for the stock."

"There are also some commercial pressure as opportunistic profit making use this stream of news to lock in good term stock was recently at the back of the success of the transfer of US$ 25 - 30bn.".

"In summary - intent announced to continue is (just) the initiation of a process to adopt clean against BP and his co-defendants Act and assumed already in the modelling of ING (we include net penalties for BP of. 2 $ 9bn based spill US $ 1,100 per barrel fine)."

Manoj Ladwa, senior capital ETX trader said:

"Just at the time when it seemed BP had turned a corner and began to move away from the Gulf oil spill, brought another blow to its recovery efforts. Although oil giant will be taken into account in all claims for negligence, it may have accelerate sales assets if you want to restore its dividend in the new year. »

Peter Hitchens, an analyst at Panmure Gordon said:

"This raises a little more uncertainty." People were more comfortable that things had abated. »

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.