Market Review on BP plc
( Trading Markets )- Investors need to turn to the markets these days if even to simply counter the depreciation of their hard earned wealth. Consumer inflation surged by the largest amount in more than two years in November, led by a huge jump in gasoline prices. Inflation also hit home with big increases in the cost of clothing, airline tickets and prescription drugs. The 0.8 percent rise in consumer prices was worse than the 0.6 percent advance that economists had expected. With one month to go, inflation in 2007 is rising at an annual rate of 4.2 percent! This well outweighed the 2.5 percent increase in 2006. There is worry that the jump in energy costs will leave consumers with less money to spend on other items, worsening the slowdown in economic growth that is already manifesting this nation.
BP plc (NYSE:BP) traded up 2% early, Thursday morning, with below-average volume, and nearing its 52 week high.
Our research resources have been aimed towards the US Large Caps and the various prospective companies therein. BP plc was among those that we have been closely examining due to their recent news and trading patterns.
Dec 2nd 2008, Superior Energy Services, Inc. today announced that its subsidiary, Wild Well Control, Inc., has signed contracts with subsidiaries of BP plc Chevron Corporation and Apache Corporation to decommission seven downed platforms and related well facilities located offshore Louisiana for a fixed sum of $750 million.
BP p.l.c . provides fuel for transportation, energy for heat and light, retail services, and petrochemicals products. The company operates in three segments: Exploration and Production; Refining and Marketing; and Gas, Power, and Renewables . The Exploration and Production segment engages in the oil and natural gas exploration, development, and production. It has exploration and production activities in the United States, the United Kingdom, Angola, Azerbaijan, Canada, Egypt, Russia, and Trinidad and Tobago, as well as in Asia Pacific, Latin America, and the Middle East. This segment also owns and manages crude oil and natural gas pipelines; processing and export terminals; and liquefied natural gas processing facilities and transportation. BP p.l.c . has interests in the Trans Alaska Pipeline System, the Forties Pipeline System, the Central Area Transmission System pipeline, and Baku-Tbilisi- Ceyhan pipeline, as well as in four LNG plants located in Trinidad, Indonesia, and Australia. As of December 31, 2006, the company's net proved reserves consisted of 5,893 million barrels of liquids and 42,168 billion cubic feet of natural gas. The Refining and Marketing segment engages in the supply and trading, refining, marketing, and transportation of crude oil, petroleum, and chemical products to wholesale and retail customers. The Gas, Power, and Renewables segment involves in marketing and trading gas and power; marketing LNG; processing, fractionating, and marketing of ethane, propane, butanes, and pentanes extracted from natural gas; and low-carbon power generation. The company operates in Europe, the United States, Canada, Russia, South America, Australasia, Asia, and Africa. BP p.l.c . was founded in 1889 and is headquartered in London, the United Kingdom.
With the recent climax remodeling the market temporarily and taking investors on a roller-coaster ride, Streetinvesting.com will keep track of the performance and future news release of this company. Our research team will bring you any news or updates about BP plc as they come into the public realm in the coming weeks and months.