Thursday 16 December 2010
BP shares have fallen back following news that the US government had issued a lawsuit relating to the Gulf of Mexico disaster, prompting talk of a fine of up to $20bn and total costs relating to the spillage of $40bn.
But American legal action could ultimately lead to an American takeover of the company, analysts suggested. BP shares climbed earlier this week on speculation of Middle Eastern stakebuilding or alternatively a bid from Royal Dutch Shell, but yesterday Exxon Mobil was put back into the frame as a possible predator. JP Morgan Cazenove said:
BP trades on a proven reserve multiple that is equal to Exxon Mobil’s 10-year average finding and development cost and is 30% cheaper than its peers…buy or build?
That is, should Exxon spend money on developing its own new fields, or use the cash for a takeover of BP at roughly the same cost? On the lawsuit itself analyst at Jefferies said:
Should BP be able to settle the civil matters in 2011 we think it will benefit the stock, removing one of the largest uncertainties over the Macondo spill cost and potentially allowing the shares to return to something approaching their fair value, which we see as in the 565p region. Despite this we still remain somewhat cautious, as the legal process is far from over and BP will also present its new strategy on 1 February 2011. This will most probably include a resumption of the dividend, we currently forecast a 38 cent annual payout, 32% below the 2009 level, although some are expecting a more radical reduction. Although there is also some speculation that BP may lay out a new strategy, shape and structure, we don’t think BP’s management will have the appetite for such radical change at present.
BP ended the day down 6.55p at 470p but off its worse levels.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
