Tag Archives: BP

BP makes £3.2bn profit in just 3 months

27 July, 2011   Karl   No comments

bp profits 2011 BP makes £3.2bn profit in just 3 monthsBP has released its quarterly figures to June showing the company has made in excess of £3bn in just 3 months. The company which was responcible for the Gulf of Mexico oil spill disaster has been boosted by higher oil prices, driven up by political unrest in the Middle East and North Africa.

In a reversal of fortunes, BP made a £10bn loss this time last year as it struggled with the disaster in the Gulf. Even with over £4bn now paid in compensation for those effected in the Gulf, the company has still managed to make over £30 million pounds a day.

Shell is also set to release its profits for the same period, eclipsing BP with an estimated £7.5 in the bank.

Higher oil prices and reduced operating costs have helped both companies post bumper profits as many motorists still struggling with rising fuel prices. Fuel prices in the UK have jumped over 20% since this time last year and are still increasing.

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Shell made £21,864 a minute in 2010, profits soared by 90%

03 February, 2011   Karl   No comments

article 0 082682C9000005DC 542 468x286 Shell made £21,864 a minute in 2010, profits soared by 90%Shell reported it’s annual profits have almost doubled (90%) to $18.6billion (£11.5billion) in 2010, boosted by higher oil prices and growing production levels.

This works out at at staggering £21,864 a minute in 2010.

News of Shells enormous profit comes as world fuel prices soar amidst turmoil in the oil producing Arab states and lower fuel outputs worldwide.

Shell’s results come a just days after BP announced its first loss in nearly two decades. The fuel giant has been paying the cost of last year’s oil rig disaster in the Gulf of Mexico.

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Fuel protest planned for Coryton Oil Refinery, Essex

26 January, 2011   Karl   1 Comment

15759506 300x168 Fuel protest planned for Coryton Oil Refinery, Essex

Protestors blocking the access roads in the 2010 protests

A fuel protest (go-slow) has been re-schedulaed  for Coryton Oil Refinery in Essex this Saturday January 29 due to what the organisers claim was “Police harassment”.

The refinery is the busiest in the United Kingdom providing oil to BP, Shell and Exxon to name a few. By blockading the road,  the protesters believe that fuel distribution be stopped dead. Every tanker that is stopped from exiting prevents 34,000 litres (7,500 gallons) of fuel flowing into London.

This is not not the first time protesters have targeted the refinery. In October 2010 protesters claimed to have stopped 375,000 gallons of fuel from leaving the site.

For more information on the protest please see the protesters Facebook page, long live Social Networking!

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US fuel stations shutting of pumps in protest over fuel distributor’s prices

26 January, 2011   Karl   No comments

P1 AW451 BP G 20100727204438 300x200 US fuel stations shutting of pumps in protest over fuel distributors prices

Up to 60 BP fuel stations in the US are in protest over its distributers fuel prices

As many as 60 BP Franchisees fuel stations are reportedly shutting off pumps over fuel distributor’s prices.

Raymond Succar, owner of a BP station in Rockland US, told the newspaper The Patriot Ledger that he shut off his pumps on Monday morning and will keep them off through Wednesday. He added that nearly 60 other station owners in Massachusetts are participating in the fuel protest.

He said they are frustrated by the high fuel prices that East Providence, R.I.-based Green Valley Oil LLC is passing on to the independent station operators.

Succar said his price for regular, self-serve gasoline was $3.24 per gallon on Sunday, while the AAA-reported state average on Monday was $3.11 per gallon.

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Fuel prices to soar again after BP pipeline leak

11 January, 2011   Karl   No comments
most expensive projects trans alaska pipeline system in snow 300x200 Fuel prices to soar again after BP pipeline leak

BP's fuel pipe line has been blamed for the recent increases in fuel prices

Fuel prices could hit new highs after a BP pipeline leak in Alaska caused the cost of oil to soar, motoring groups warned last night.

Despite the leak, the AA said the rises were being driven by speculators and ‘pure greed’.

The row came as diesel yesterday broke through £6 a gallon. The average price of petrol was already at a record of 127.8p a litre and heading towards £1.30 a litre following a double whammy tax increase last week.

Diesel costs 132.05p a litre – a fraction short of its all-time high of 133.25p set in July 2008.

David Cameron is under pressure to cut the level of duty whenever the pump price becomes excessively high in a so-called fuel-price stabiliser.

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