Colin
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Registered: 4th Apr 02
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The drop in profits will make a huge impact on them, their profits are all relative to their expenditure & losses.
I dont believe for a second they wont shelf certain projects due to this & possibly pull the plug on production on certain platforms.
Its a big money industry, they rely on huge profits to reinvest & be able to take multi-million pound losses on the chin.
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John
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Registered: 30th Jun 03
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They still have huge profits though, £18 billion, i'm sure they won't go under yet.
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pow
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Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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What a shame.
Get rid of BP and Esso and keep Shell and Supermarkets IMO 
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Colin
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Registered: 4th Apr 02
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No they wont go under.
The drop in profit this quarter will be a worry if this recessions to last a while.
What they will do is cancel any non urgent expenditure, R&D projects, sack some non urgent staff & halt production asets until the price of oil goes up.
The latter one weve already seen with Tallisman (Canadian Company) shutting down wells on its north sea assets & also on the news not so long ago tankers loading up in Shetland, leaving dock & dropping anchor until they can sell for a higher price.
This will probably continue until the price of oil goes up.
[Edited on 04-02-2009 by Colin]
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Nath
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Registered: 3rd Apr 02
Location: MK
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Anyone would think you were in the oil business Colin.
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by pow
What a shame.
Get rid of BP and Esso and keep Shell and Supermarkets IMO
Yeah great idea.
Id love to see a tesco employee operating a £40 million pound drill ship.
Goodbye oil companies = Goodbuy cars + most of the other stuff you take for granted in everyday life. Plastics, soaps, chemicals - almost everything.
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by Nath
Anyone would think you were in the oil business Colin.
You'd think eh. I just like to try & explain the massive profits that contribute to my performance related bonus scheme 
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DaveyLC
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Registered: 8th Oct 08
Location: Berkshire
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Is it actually a LOSS or are their profits just down on last year? I love it when companies moan about making a loss on their profits because its still a f**king PROFIT lol 
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by DaveyLC
Is it actually a LOSS or are their profits just down on last year? I love it when companies moan about making a loss on their profits because its still a f**king PROFIT lol
Quarter 4 profits = poor.
08-09 profits, record breaking.
Next couple years = not looking good based on Q4 results.
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John
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Registered: 30th Jun 03
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quote:
Despite the collapse in profits at the end of the year, BP still managed to report record annual profits of $21.2billion for 2008, up slightly on 2007's $20.8 billion - largely because of record oil prices earlier in the year.
Another measure of performance, the so-called replacement cost profit, which strips out oil price volatility, offered a more flattering fourth-quarter result for BP of a $2.6billion profit, down from about $3.4billion a year earlier.
It's just a news story with a bullshit headline as usual.
Profits are still up on last year, any cost cutting they talk about is just for the papers.
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pow
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Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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quote:
Originally posted by Colin
quote:
Originally posted by pow
What a shame.
Get rid of BP and Esso and keep Shell and Supermarkets IMO
Yeah great idea.
Id love to see a tesco employee operating a £40 million pound drill ship.
Goodbye oil companies = Goodbuy cars + most of the other stuff you take for granted in everyday life. Plastics, soaps, chemicals - almost everything.
I was only joking 
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by John
Profits are still up on last year, any cost cutting they talk about is just for the papers.
Id disagree with that, but we'll see what happens if the price of oil stays where it is.
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by pow
I was only joking
Its ok Kpow, its just that saying oil companies are full of money grabbing bastards who would eat their own children for a barrel of oil is like saying the IT industrys full of Geeks that play warcraft in their spare time & smell of mould. 
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pow
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Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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I do NOT play warcraft in my spare time and take pride in my appearance and feel sick at thr thought of mould
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Colin
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Registered: 4th Apr 02
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Hey I know I know.............the tarred brush says differently though
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pow
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Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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You watch too much of the IT Crowd
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saj_123
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Registered: 6th Jan 09
Location: Berkshire
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My A level teacher ownes alot of shares within BP and she isnt to happy about this.
she was over the moon few months back when they made a huge profit.
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Colin
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Registered: 4th Apr 02
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Shares are shares though, you got to take the highs with the lows. My old mans got a stack of BP shares too but as long as he can afford to sit on them until they go back up then its ok.
When I worked for BP a few years ago when the WTC attack happened, the share price initilly spiked & went through the roof, my workmate sold all of his & paid off his house!!
I sold a load of mine a few years ago & made a nice profit, something like £7k, Id only been investing for a year though, some folks that have been heavily investing or paying into a employee scheme may have several hundred grand tied up.
You cant really invest in shares then moan when they bottom out imo as thats the nature of how it works, never invest any more than your happy to loose.
[Edited on 04-02-2009 by Colin]
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John
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Registered: 30th Jun 03
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quote:
Originally posted by Colin
quote:
Originally posted by pow
I was only joking
Its ok Kpow, its just that saying oil companies are full of money grabbing bastards who would eat their own children for a barrel of oil is like saying the IT industrys full of Geeks that play warcraft in their spare time & smell of mould.
Both true.
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Daimo B
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Registered: 20th Mar 00
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Fuel is expensive yeah....
How much is your litre bottle of coke, or litlre bottle of water?
Petrol doesn't seem so expensive now eh 
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John
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Registered: 30th Jun 03
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Yes it does.
Bottles of coke and water are luxuries.
Petrol is really cheap compared to printer ink.
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Daimo B
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Registered: 20th Mar 00
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quote:
Originally posted by John
Bottles of coke and water are luxuries.
Petrol is really cheap compared to printer ink.
A car is a luxuary. People forget this.
Many people don't own cars and live a happy life using public transport.
As for water being a luxery. Ummmmm, sure, i man we're 70% water, and need quite a bit per day, but yeah, its a luxuary
[Edited on 04-02-2009 by VXR]
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John
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Registered: 30th Jun 03
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Petrol prices still affect the price of public transport though.
Car's aren't a luxury for a lot of people, they're required to get to work and take children to school.
Some people may get by with public transport but it's still crap in many parts of the country.
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Daimo B
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Registered: 20th Mar 00
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But they are still a luxury If they didn't have a car, they wouldn't have taken that job = hence car is a luxury.
So those people whould think about their route.
I cannot get to my job without a bike or car. A car or bike is a luxury item. I could get a job somewhere else, as can most people.
Public transport goes up with inflation, not petrol prices. And trains don't use petrol.
[Edited on 04-02-2009 by VXR]
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richc
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Registered: 24th Mar 07
Location: Ilkeston
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quote:
Originally posted by VXR
Public transport goes up with inflation, not petrol prices. And trains don't use petrol.
[Edited on 04-02-2009 by VXR]
Do you go out of your way to piss people off?
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