How much did BP stock drop after oil spill?
BP's stock fell by 51% in 40 days on the New York Stock Exchange, going from $60.57 on 20 April 2010, to $29.20 on 9 June, its lowest level since August 1996.
How did the BP oil spill affect the stock market?
The gusher flowed for 87 days and was capped on July 15, 2010. The oil spill caused an estimated 3.19 million barrels of oil to leak into the Gulf of Mexico1. The market punished BP after the incident and the stock price continually decreased until bottoming out on June 25 after roughly a 55% decrease.
How much money did BP lose from the oil spill?
The newest charge brings the total costs for the 2010 oil spill to about $65 billion for the British oil company. BP announced on Tuesday it will take an additional $1.7 billion post-tax non-operating charge over the deadly 2010 Deepwater Horizon spill in the Gulf of Mexico.
How much did BP's market value decrease after the Deepwater Horizon oil rig explosion?
In the first 100 days of BP's Deepwater Horizon oil rig explosion, the company's market cap value plummeted $70.3 billion, or about 59 percent.
What consequences did BP face after the oil spill?
By the next year, the company had lost almost a quarter of its market value and had hemorrhaged over $40 billion in costs associated with cleanup and recovery.
Why did BP share price drop?
BP (BP.) shares fell 5% in London on Tuesday morning after reporting a fall in profits for the third quarter. This is the first set of results since the abrupt departure of chief executive Bernard Looney on September 13.
Why did BP stock drop in 2011?
BP's shares fell more than 55 percent as the crisis worsened following the explosion on the Deepwater Horizon rig on April 20. Talk of bankruptcy, years of litigation from local businesses and property owners, and irreversible environmental damage sent most investors scurrying for the door.
Is BP still paying for the oil spill?
Under the final consent decree, BP will pay the trustees up to $8.8 billion, the largest recovery of damages ever for injuries to natural resources, to restore the Gulf. The settlement includes: $1 billion already allocated during early restoration which began in 2011.
Did anyone go to jail for the BP oil spill?
But none of BP's onshore engineers or top executives faced criminal charges. And the charges against four BP employees unraveled before skeptical jurors and judges, resulting in acquittals or plea bargains involving lesser crimes and no prison time. Donald Joseph Vidrine was born in Ville Platte, La., on Oct. 17, 1947.
Did BP ever pay for the oil spill?
BP paid around $63.4 billion by the end of September to cover clean-up costs and legal fees linked to the largest environmental disaster in U.S. history where 11 rig workers were killed.
What was BP highest stock price ever?
BP - 47 Year Stock Price History | BP
Historical daily share price chart and data for BP since 1977 adjusted for splits and dividends. The latest closing stock price for BP as of April 12, 2024 is 39.44. The all-time high BP stock closing price was 39.82 on October 17, 2023.
Did BP go out of business after Deepwater Horizon?
But BP has survived. The 2010 oil spill, triggered by a blowout that killed 11 workers and toppled the Deepwater Horizon drilling rig, "shook the company to its core," says Robert Dudley, a low-key American from Mississippi who took charge of the storied company formerly known as British Petroleum.
Does BP have a bad reputation?
BP, also known as British Petroleum, has a bad reputation due to its history of environmental and safety incidents.
Who was to blame for Deepwater Horizon?
The investigation also questioned why an engineer with BP, the team leader overseeing the project, ignored warnings about weaknesses in cement outside the well which could have prevented the gas from escaping. The conclusion was that BP was partly to blame, as was Transocean, which owned the Deepwater Horizon oil rig.
Who did BP blame for the oil spill?
In the agreement, BP acknowledged that mistakes were made, but the only individuals it singled out for blame were Kaluza and Vidrine, who, it said, “negligently supervised” a critical pressure test and failed to notify company engineers of possible problems with it, “in violations of the applicable duty of care.” All ...
Who owns the most BP stock?
Largest shareholders include State Street Corp, Fisher Asset Management, LLC, Arrowstreet Capital, Limited Partnership, Acadian Asset Management Llc, Morgan Stanley, Dimensional Fund Advisors Lp, BlackRock Inc., Wellington Management Group Llp, Boston Partners, and Goldman Sachs Group Inc .
Should I hold or sell BP stock?
BP Stock Forecast FAQ
BP p.l.c. has 19.15% upside potential, based on the analysts' average price target. Is BP p.l.c. a Buy, Sell or Hold? BP p.l.c. has a conensus rating of Moderate Buy, which is based on 8 buy ratings, 1 hold ratings and 1 sell ratings.
How safe is BP dividend?
Fortunately, it paid out only 27% of its free cash flow in the past year. It's positive to see that BP's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut.
Did BP rebrand after oil spill?
BP spent $211 million on their re-branding soon after the Deepwater Horizon crude oil spill. Remember? That accidental mishap that cost them $65 Billion in U.S fines and a complete brand re-haul.
What is the price of BP stock in 2024?
| Date | Open | High |
|---|---|---|
| Apr 12, 2024 | 40.07 | 40.40 |
| Apr 11, 2024 | 39.75 | 40.00 |
| Apr 10, 2024 | 39.14 | 39.46 |
| Apr 09, 2024 | 39.49 | 39.55 |
When did BP stock split?
BP split its shares in 1999. Prior to the 2-for-1 stock split, BP Amoco ADSs were trading at prices significantly higher than those of the company's principal competitors.
Where did all the oil from the BP spill go?
Some oil accumulated at the shoreline, on the ocean's surface, in an underwater plume, and on the seafloor. After the spill, oil weathered due to environmental exposure. It evaporated, emulsified into foam, naturally dispersed, and/or dissolved.
Was there a whistleblower in BP oil spill?
The whistleblower, Ken Abbott, who worked for a BP subcontractor on the Altantis rig before being fired, made the allegations before the Deepwater Horizon rig exploded. The discredited – and now dissolved – offshore regulator MMS eventually began an investigation following pressure from members of Congress.
Were the bodies of Deepwater Horizon found?
The explosion killed 11 workers on or near the drilling floor and the rest of the crew were evacuated before, two days later, the rig sank to the seabed. The bodies of the dead were never recovered.
How many people died on the BP oil rig?
On April 20, 2010, the oil drilling rig Deepwater Horizon, operating in the Macondo Prospect in the Gulf of Mexico, exploded and sank resulting in the death of 11 workers on the Deepwater Horizon and the largest spill of oil in the history of marine oil drilling operations.
