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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

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honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Aug 26, 2012 6:28:20 AM Ignore honda0105 Report Abuse time for BP to stop being the Big Pretender and either do something or get out?
Stevedog Champion Author Michigan Posts:3,988 Points:1,972,700 Joined:Jul 2006	Message Posted: Aug 22, 2012 3:45:20 PM Ignore Stevedog Report Abuse They have been having a lot of screwups
tomok Champion Author Portland Posts:33,579 Points:2,372,235 Joined:Aug 2006	Message Posted: Aug 22, 2012 4:20:59 AM Ignore tomok Report Abuse 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:2,681 Points:689,900 Joined:Jan 2010	Message Posted: Aug 21, 2012 11:25:27 PM Ignore rahcat Report Abuse Some you win and some you lose.
boatfloyd Champion Author Jacksonville Posts:1,858 Points:415,675 Joined:Mar 2012	Message Posted: Aug 21, 2012 11:10:45 PM Ignore boatfloyd Report Abuse Sounds like the new share holders will be paying the $38 billion.
heartbroken2010 Champion Author Ottawa Posts:4,480 Points:924,260 Joined:Aug 2010	Message Posted: Aug 21, 2012 11:05:33 PM Ignore heartbroken2010 Report Abuse Ongoing saga here.
FXRider94 Veteran Author New Jersey Posts:329 Points:1,252,715 Joined:Jul 2009	Message Posted: Aug 21, 2012 11:04:18 PM Ignore FXRider94 Report Abuse 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:3,985 Points:440,290 Joined:Mar 2012	Message Posted: Aug 21, 2012 10:55:55 PM Ignore Aviator_Rob Report Abuse BP can get a bailout from the Queen. The company's name is BRITISH Petroleum, after all.
chen94539 Sophomore Author Oakland Posts:181 Points:813,540 Joined:Jul 2010	Message Posted: Aug 21, 2012 10:55:20 PM Ignore chen94539 Report Abuse it should pay for the mistake.
us4usa Champion Author Missouri Posts:6,120 Points:1,137,585 Joined:May 2008	Message Posted: Aug 21, 2012 10:45:59 PM Ignore us4usa Report Abuse Sounds like BP may needs a bail out from Uncle Sam???
A2J Champion Author Richmond Posts:3,205 Points:628,700 Joined:Aug 2011	Message Posted: Aug 21, 2012 10:44:57 PM Ignore A2J Report Abuse BP going down
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Aug 21, 2012 10:41:13 PM Ignore Agarre Report Abuse BP
bigdipperMS Champion Author Mississippi Posts:1,541 Points:550,130 Joined:Apr 2011	Message Posted: Aug 21, 2012 10:40:01 PM Ignore bigdipperMS Report Abuse 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 Posts:3,985 Points:440,290 Joined:Mar 2012	Message Posted: Aug 21, 2012 10:38:43 PM Ignore Aviator_Rob Report Abuse 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:3,985 Points:440,290 Joined:Mar 2012	Message Posted: Aug 21, 2012 10:35:24 PM Ignore Aviator_Rob Report Abuse 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:8,052 Points:1,600,730 Joined:Nov 2008	Message Posted: Aug 21, 2012 10:34:10 PM Ignore abcdMA Report Abuse that's business
Gazstation Champion Author Montreal Posts:4,244 Points:856,635 Joined:Dec 2010	Message Posted: Aug 21, 2012 10:33:56 PM Ignore Gazstation Report Abuse British petrolum, irak petrol.
gsayeg1 All-Star Author Milwaukee Posts:877 Points:151,375 Joined:Jun 2008	Message Posted: Aug 21, 2012 10:30:22 PM Ignore gsayeg1 Report Abuse could not happen to a nicer bunch of guys
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: Aug 21, 2012 10:25:08 PM Ignore mstearno Report Abuse really?
OGW Champion Author London Posts:5,446 Points:1,558,085 Joined:Sep 2005	Message Posted: Aug 21, 2012 10:24:15 PM Ignore OGW Report Abuse If the BP investors were not worried after the Gulf spill they are one clueless bunch.
nj2000ng Champion Author Houston Posts:1,507 Points:449,020 Joined:Jan 2010	Message Posted: Aug 21, 2012 10:23:45 PM Ignore nj2000ng Report Abuse BP will still remain big.
wayoung56 Champion Author Alabama Posts:2,920 Points:845,010 Joined:Oct 2006	Message Posted: Aug 21, 2012 10:22:43 PM Ignore wayoung56 Report Abuse Interesting article...
Blue48 Champion Author Illinois Posts:7,445 Points:1,665,645 Joined:Feb 2007	Message Posted: Aug 21, 2012 10:21:08 PM Ignore Blue48 Report Abuse WHATEVER!
J4romeo All-Star Author Gary Posts:506 Points:1,219,125 Joined:Jan 2006	Message Posted: Aug 21, 2012 10:19:58 PM Ignore J4romeo Report Abuse and now with the area BP refinery sending out about 2mil gals in bad gas in the Chicago land area..:(
mdskier Champion Author Maryland Posts:10,071 Points:1,809,365 Joined:Aug 2005	Message Posted: Aug 21, 2012 10:18:51 PM Ignore mdskier Report Abuse Selling their Gulf of Mexico deepwater oil fields is the right move since they really botched that one.
suzmar Champion Author Texas Posts:2,223 Points:896,185 Joined:Jun 2006	Message Posted: Aug 21, 2012 10:18:33 PM Ignore suzmar Report Abuse 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:2,512 Points:349,895 Joined:Jun 2012	Message Posted: Aug 21, 2012 10:15:33 PM Ignore CocoPaz Report Abuse Don't cry for me, World Economy....(set to the tune of Don't cry for me, Argentina)
whaboush Champion Author Richmond Posts:1,233 Points:750,910 Joined:Nov 2010	Message Posted: Aug 21, 2012 10:15:12 PM Ignore whaboush Report Abuse They should not be up there
itsjustme719 All-Star Author Hamilton Posts:612 Points:617,470 Joined:Dec 2010	Message Posted: Aug 21, 2012 10:13:58 PM Ignore itsjustme719 Report Abuse Two years profits? That's their penalty for the disaster they caused? Should be much more.
Panama Red Champion Author San Diego Posts:11,208 Points:2,525,015 Joined:Jun 2004	Message Posted: Aug 21, 2012 10:13:33 PM Ignore Panama Red Report Abuse BP gets no sympathy from me.
Tekkersmom57 Champion Author Syracuse Posts:2,014 Points:727,915 Joined:May 2010	Message Posted: Aug 21, 2012 10:13:08 PM Ignore Tekkersmom57 Report Abuse When a mistake happens, you need to own up to it. Sometimes that costs lots of money and time.
BANZAI56 Rookie Author Columbus Posts:85 Points:558,100 Joined:Jun 2005	Message Posted: Aug 21, 2012 10:12:46 PM Ignore BANZAI56 Report Abuse Good...
MG_Sputnik Champion Author Philadelphia Posts:7,434 Points:1,986,845 Joined:Apr 2006	Message Posted: Aug 21, 2012 10:11:26 PM Ignore MG_Sputnik Report Abuse Who gives a crap?
phthisin Rookie Author New Hampshire Posts:39 Points:772,855 Joined:Dec 2010	Message Posted: Aug 21, 2012 10:11:20 PM Ignore phthisin Report Abuse Bp's status lately has not been basaed on size, but on its ineptitude.
Shakleelady31 All-Star Author Fort Wayne Posts:597 Points:423,550 Joined:Jan 2012	Message Posted: Aug 21, 2012 10:09:52 PM Ignore Shakleelady31 Report Abuse Okay.
OOXXFF Champion Author Greensboro Posts:3,193 Points:1,105,905 Joined:Sep 2009	Message Posted: Aug 21, 2012 10:07:54 PM Ignore OOXXFF Report Abuse Do you feel sorry for BP?
pgerassi Champion Author Milwaukee Posts:11,036 Points:2,159,245 Joined:Apr 2007	Message Posted: Aug 21, 2012 10:04:43 PM Ignore pgerassi Report Abuse OK
TekWare Champion Author Toronto Posts:3,302 Points:700,310 Joined:May 2011	Message Posted: Aug 21, 2012 10:02:13 PM Ignore TekWare Report Abuse Wish I could screw up that much and still be number one.
danreino Champion Author Twin Cities Posts:8,474 Points:1,564,510 Joined:Mar 2008	Message Posted: Aug 21, 2012 10:01:55 PM Ignore danreino Report Abuse SaudiAramco next up to bat ? i dunno
Lukus Champion Author Halifax Posts:8,419 Points:1,701,255 Joined:Nov 2007	Message Posted: Aug 21, 2012 10:01:42 PM Ignore Lukus Report Abuse ok
knot2swift Champion Author Calgary Posts:4,506 Points:717,735 Joined:Nov 2009	Message Posted: Aug 21, 2012 10:01:13 PM Ignore knot2swift Report Abuse 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:3,607 Points:698,265 Joined:Aug 2005	Message Posted: Aug 21, 2012 9:59:51 PM Ignore JLSindy Report Abuse I agree with most of what everyone says.
lewpuckett Champion Author Georgia Posts:1,160 Points:667,510 Joined:Mar 2011	Message Posted: Aug 21, 2012 9:59:22 PM Ignore lewpuckett Report Abuse wow a good life losing prime assets and still making $20 billion this QUARTER
96sc1 Champion Author El Paso Posts:8,517 Points:1,367,440 Joined:Mar 2008	Message Posted: Aug 21, 2012 9:56:18 PM Ignore 96sc1 Report Abuse Being number one makes a company such a target anyway.
g747 Champion Author Mobile Posts:4,677 Points:960,395 Joined:Jul 2009	Message Posted: Aug 21, 2012 9:53:18 PM Ignore g747 Report Abuse The Gulf Oil spill cost a lot of heavyduty Loot!!!!!.
jackster111 Champion Author North Carolina Posts:3,529 Points:452,060 Joined:Feb 2012	Message Posted: Aug 21, 2012 9:52:15 PM Ignore jackster111 Report Abuse okay
SalukiCO Sophomore Author Colorado Springs Posts:199 Points:243,295 Joined:Jun 2012	Message Posted: Aug 21, 2012 9:47:11 PM Ignore SalukiCO Report Abuse Poor BP. I sure Romney will just increase their government subsidies (welfare) to make up the difference.
FunMyster All-Star Author Indiana Posts:909 Points:73,480 Joined:Jul 2011	Message Posted: Aug 21, 2012 9:45:26 PM Ignore FunMyster Report Abuse ok
WinderGuy Champion Author Georgia Posts:2,965 Points:956,010 Joined:Mar 2008	Message Posted: Aug 21, 2012 9:43:02 PM Ignore WinderGuy Report Abuse Ok
mysub Champion Author Las Vegas Posts:9,046 Points:2,357,190 Joined:Apr 2006	Message Posted: Aug 21, 2012 9:40:09 PM Ignore mysub Report Abuse I'm crying me a river.