Anadarko: The oil spill is none of our business.

[GRG55]

Re: Anadarko: The oil spill is none of our business.

Fool me once...

Abu Dhabi reluctant to invest in BP: report

Agence France-Presse
Dubai, July 11, 2010

Abu Dhabi is reluctant to invest in British Petroleum(BP), a report said, only days after the British company's chief was thought to have sought investment from sovereign wealth funds on a visit to the Gulf state...

..."Sources close to Abu Dhabi investment funds said that they are already in court over a Citigroup investment and that the move would be too politically charged and there are too many unknowns," the MEES newsletter said.

Abu Dhabi Investment Authority(ADIA) became one of Citigroup's biggest investors in 2007 with a USD 7.5-billion cash injection, but The National newspaper reported in December that ADIA filed a suit accusing the US bank of fraud...

[Starving Steve]

Re: Anadarko: The oil spill is none of our business.

SS, this is surprising news! Could you provide a source for this revelation?

Please read from The Wall Street Journal the article by Paul Rubin: "Why is the Gulf Clean-up so Slow?" published Friday, July 2, 2010. The article is a block-buster! Federal law in the U.S. only allows 15 parts of oil per million parts of effluent water from skimmer-ships. As unbelieveable as it may seem, the EPA in the Obama Administration is enforcing this law to the letter of the law.

You may use your Google Chrome to quickly bring-up the article on your computer screen. Just type-in the key words, in the paragraph above. (Simple!)

After I read this article, I didn't know whether to laugh or to cry.

[Starving Steve]

Re: Anadarko: The oil spill is none of our business.

source: Paul Rubin's article published in The Wall Street Journal, on Friday, July 2nd, 2010, "Why the Gulf Clean-up is so Slow?".

Enjoy the read, everyone!

[Rajiv]

Re: Anadarko: The oil spill is none of our business.

source: Paul Rubin's article published in The Wall Street Journal, on Friday, July 2nd, 2010, "Why the Gulf Clean-up is so Slow?".

Enjoy the read, everyone!

Here is the link http://online.wsj.com/article/SB1000...877298556.html

[GRG55]

Re: Anadarko: The oil spill is none of our business.

History repeats??

Then:

Exxon Mobil could take over BP
Thu, 16 Mar 2006


BP, the UK-listed oil company, is rumoured to be a potential bid target for Exxon Mobil. Exxon Mobil posted a £19.2bn profit in 2005, and the US-listed oil company has £19bn spare cash. Exxon has said it will not be paying a dividend this year. An analyst at Cazenove, one of BP's brokers, issued a report suggesting that BP should consider breaking itself up into separate upstream and downstream businesses. The analyst suggested that BP should look at a demerger of its downstream operations in a tax-efficient way. BP has a market capitalization of £135.66bn.

And now:

US oil company Exxon given the nod to mount £100bn BP takeover

Published 12/07/2010 01:17:17 Dailymail
Last updated at 2:17 AM on 12th July 2010

Oil giant Exxon has been given clearance by Washington to mount a £100billion bid for BP as the embattled British company undertakes a high-stakes gamble to cap the Gulf of Mexico spill.

The U.S. government has told Exxon that it will not stand in its way if it chooses to attempt a takeover.

Sources said the American oil group - which was responsible for the world's biggest oil spill until the disaster in the Gulf - had expressed a 'serious interest' in the deal...

[jk]

Re: Anadarko: The oil spill is none of our business.

History repeats??

Then:

Exxon Mobil could take over BP
Thu, 16 Mar 2006


BP, the UK-listed oil company, is rumoured to be a potential bid target for Exxon Mobil. Exxon Mobil posted a £19.2bn profit in 2005, and the US-listed oil company has £19bn spare cash. Exxon has said it will not be paying a dividend this year. An analyst at Cazenove, one of BP's brokers, issued a report suggesting that BP should consider breaking itself up into separate upstream and downstream businesses. The analyst suggested that BP should look at a demerger of its downstream operations in a tax-efficient way. BP has a market capitalization of £135.66bn.

And now:

US oil company Exxon given the nod to mount £100bn BP takeover

Published 12/07/2010 01:17:17 Dailymail
Last updated at 2:17 AM on 12th July 2010

Oil giant Exxon has been given clearance by Washington to mount a £100billion bid for BP as the embattled British company undertakes a high-stakes gamble to cap the Gulf of Mexico spill.

The U.S. government has told Exxon that it will not stand in its way if it chooses to attempt a takeover.

Sources said the American oil group - which was responsible for the world's biggest oil spill until the disaster in the Gulf - had expressed a 'serious interest' in the deal...

i guess one question is whether the u.s. company, exxon mobil, has better political chops in washington and along the gulf coast, to be able to cap not just the well, but the liability.

[GRG55]

Re: Anadarko: The oil spill is none of our business.

i guess one question is whether the u.s. company, exxon mobil, has better political chops in washington and along the gulf coast, to be able to cap not just the well, but the liability.

And that is the best takeover defense that BP has at the moment...nobody can figure out what the liability is really going to be, and therefore nobody can actually place a reliable value on BP as a going concern. I personally think that the idea that Exxon, or anyone else, is seriously running the slide-rule over BP with the intent to launch a takeover is nonsensical.

[WildspitzE]

Re: Anadarko: The oil spill is none of our business.

And that is the best takeover defense that BP has at the moment...nobody can figure out what the liability is really going to be, and therefore nobody can actually place a reliable value on BP as a going concern. I personally think that the idea that Exxon, or anyone else, is seriously running the slide-rule over BP with the intent to launch a takeover is nonsensical.

Couldn't agree more.

Thought more would be making plays for the pieces with value, leave shell with liability behind.

[GRG55]

Re: Anadarko: The oil spill is none of our business.

Couldn't agree more.

Thought more would be making plays for the pieces with value, leave shell with liability behind.

It's ringfencing that liability from the US legal and politcal systems that will be the problem with trying to cherry pick BP assets.

[VIT]

Re: Anadarko: The oil spill is none of our business.

BP said Tuesday that Japan's Mitsui & Co., its partner at the Macondo well in the Gulf of Mexico, has notified the company it's withholding reimbursement payments for expenses related to the massive oil spill there.

MOEX Offshore 2007 LLC, which is a subsidiary of Mitsui Oil Exploration Co., Ltd., informed BP Monday that they are withholding payment for their share of costs related to the leak in the gulf, including costs associated with containment efforts, BP's spokesman Mark Salt said in an emailed statement.


"We are disappointed that another party has failed to live up to its obligations under the Macondo Operating Agreement and as a responsible party under the Oil Pollution Act," Salt said. Mitsui has a 10% interest in the mile-deep well, which has been spewing oil into the Gulf's water since late April.

http://www.rigzone.com/news/article....d=96002&hmpn=1