Bad news.. BP only made 5.6 billion....

[thatone1967]

This really does p1ss me off....
Combination of the Oil Co's and Winky, we are being royal scr3w3d!

[Bing o]

thatone1967 said:

This really does p1ss me off....
Combination of the Oil Co's and Winky, we are being royal scr3w3d!

Why? Are you a communist?

[bob1179]

BP is a business, it is there to make money.

You should complain about the government screwing us for tax rather than the relatively small amount BP charge for their fuel.

After all, do you realise how much it costs to explore, extract, refine then deliver your fuel to your local petrol station?

[GT03ROB]

thatone1967 said:

This really does p1ss me off....
Combination of the Oil Co's and Winky, we are being royal scr3w3d!

Do you have any conception of the cost of a field development? Or the risks involved?

[Dave_ST220]

I have no problem with oil companies posting profits, if you want to get pissed off take a look at the breakdown of the costs incured for a litre of fuel. The government do fk all(as ever) and take the largest slice of the cake by far.

[Rolls]

And just think of how much they are going to pay in tax on their earnings!!!

[Adrian W]

It cost me £80 to fill up my car on Sunday, which is the most I have ever, the bit I don't understand is that the petrol companies say the are not profiting from the high forecourt prices, as global demand has reduced due to the economic downturn where are these profits coming from?

[Pablo16v]

BP are about to spend £4 billion on the next development phase of their Clair field west of Shetland, £900 million on new subsea pipelines, rig rates are climbing again and three BP rigs I've picked from last weeks rig utilisation report total £1.5 million / day. It's an expensive business so stop being fooled by Daily Mail style headlines.

[frank hovis]

Upstream business makes up a very small part of the profit that BP makes

So you dont want BP and such like to make money ? so you dont want increases in your pension fund either ? becuase that's where a large part of the dividend that BP pay to shareholders will end up

Bp and the likes - as said ealier dont control the fuel prices , that's the Gov's remit with tax

[GT03ROB]

Adrian W said:

It cost me £80 to fill up my car on Sunday, which is the most I have ever, the bit I don't understand is that the petrol companies say the are not profiting from the high forecourt prices, as global demand has reduced due to the economic downturn where are these profits coming from?

Exploration & production. Check the details behind BP's results, refining lost money last quarter & contributed only $700m globally this quarter. BP's margins on refining are wafer thin, they make $3 / barrel based on their data, go figure what that is a gallon, it's peanuts per litre.

BP are prohibited by law from subsidising their refining & retail operations through exploration & production. Each business has to effectively trade in it's own right. BP don't set the price for a barrel of oil they sell to refiners, supply & demand does.

[elster]

thatone1967 said:

This really does p1ss me off....
Combination of the Oil Co's and Winky, we are being royal scr3w3d!

How fking dare a business do well!

The cheek of it!

How dare they pay more taxes with their higher profits and contribute to the public purse.

Disgusting behaviour. They should go outside and shoot themselves...twice to make sure.

[HOGEPH]

[redacted]

[jazzybee]

Adrian W said:

It cost me £80 to fill up my car on Sunday, which is the most I have ever, the bit I don't understand is that the petrol companies say the are not profiting from the high forecourt prices, as global demand has reduced due to the economic downturn where are these profits coming from?

I feel for you. I filled up the BMW this weekend with £100.01 of diesel. First time I've gone over £100.

I think I heard on the radio this morning that of the £3.6Bn profit this quarter only £200m was from retail operations.

[cs02rm0]

bob1179 said:

After all, do you realise how much it costs to explore, extract, refine then deliver your fuel to your local petrol station?

Peanuts relatively, surely? How else could they turn a profit in the billions, again, on a product that we pay 70% tax on?

[GT03ROB]

cs02rm0 said:

bob1179 said:

After all, do you realise how much it costs to explore, extract, refine then deliver your fuel to your local petrol station?

Peanuts relatively, surely? How else could they turn a profit in the billions, again, on a product that we pay 70% tax on?

Volume.........field developments cost 10's of billions, not billions. The costs of this business are huge & high risk. Not BP but check out Kashagan if you don't believe me, $140bn & still rising.

Edited by GT03ROB on Tuesday 27th April 09:28

[crmcatee]

Look at the cost of a litre of fuel. Let's say £1.20. Now think of everything that's went into get it out of the ground, transported, refined, stored, shipped and delivered to your petrol station.

Now let's look at the cost of Evian water for an example.

Sample link

Now working upwards - you get 24 bottles of .33L which equals 7.92L total. This comes at the princely sum of £12.89 +VAT = £14.06. (That's excluding delivery).

Let's take the same amount of fuel and see what it costs us.. 7.92L x £1.20 = £9.50


Now which one is screwing us. It's not the oil companies.

If we took the fuel figures without the grubby paws of the government taking their piece the actual cost of the fuel would be in the order of £3.56 for the same 7.92L.

[jshell]

cs02rm0 said:

bob1179 said:

After all, do you realise how much it costs to explore, extract, refine then deliver your fuel to your local petrol station?

Peanuts relatively, surely? How else could they turn a profit in the billions, again, on a product that we pay 70% tax on?

You do realise that oil production is not solely to produce petrol for motorists?

Crude oil is used to produce:

plastics
fertilisers
pharmaceuticals
Heavy fuel oils
aviation fuels
chemicals
etc
etc
etfeckingc........

The profits do not come from bloody petrol!

[jshell]

Adrian W said:

It cost me £80 to fill up my car on Sunday, which is the most I have ever, the bit I don't understand is that the petrol companies say the are not profiting from the high forecourt prices, as global demand has reduced due to the economic downturn where are these profits coming from?

See my answer above^^^^^^^^^^^^^^^^^^^

It's feck all to do with petrol.

[louiebaby]

GT03ROB said:

The costs of this business are huge & high risk. Not BP but check out Kashagan if you don't believe me, $140bn & still rising.

Good name for it then!

People who understand even a little bit about the oil industry, and business in general are fighting a losing battle with the Daily Mail believers.

Someone more intelligent than me said:

Never argue with idiots, they drag you down to their level, and beat you with experience.

Fuel is too expensive, but that's no really BP's fault. As someone said, I'm thankful they're still paying tax in the UK.

[bonsai]

Obviously slightly out of date what with the rampant rise every god damn month.