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Commodities Briefing - Categorized | Commentaries, Oil, Price Watch more

It’s not just BP that feels oil price pain

Posted on 29 April 2009

From Guardian.co.uk: Profits down 62%. Cash from operations down almost 50%. How long can it be before BP cuts its dividend, delivering a blow to every pension fund in the land?

Actually, don’t place much money on that outcome. It is now becoming possible to believe that the dividend will survive the fall in the oil price. Yesterday’s numbers weren’t pretty for BP’s shareholders but encouragement for them lies in the fact that an old rule in the oil business - costs follow prices - is still working……Full Article: Source


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VRS - who has written 48800 posts on Opalesque Commodities Briefing.


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