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Post by pawlo on Apr 27, 2005 5:20:34 GMT 1
From the BBC website
Rising oil prices boost BP profit
Increased world oil prices have helped boost BP's profits over the past three months, the firm has said. BP said replacement cost net profit for the first three months of the year was $5.49bn (£2.87bn), up 29% on the same period a year ago.
Any comments?
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Deleted
Deleted Member
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Post by Deleted on Apr 27, 2005 6:15:48 GMT 1
I wonder if the removal of the 'pit' and the movement to electronic systems at the IPE will have any effect on trading prices?
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Post by Dicky Knee on Apr 27, 2005 10:02:45 GMT 1
Good news all round then: More tax to Mr Brown from the profits More tax from us to pay for the petrol. ...and, as the majority (if not all) of pension companies invest in oil companies, our pensions are a little more secure ;D even though Mr Brown would like more tax from the oil companies, therefore taking from our pensions
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Post by GrizzlyShrew on Apr 27, 2005 12:18:45 GMT 1
Yep. Getting new car sometime over the summer and it will definately be converted to LPG - I'm done with money grabbing Oil Companies & Governments. I recon it will take about 9 months only to recoup the money for conversion.
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Deleted
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Post by Deleted on Apr 27, 2005 12:21:56 GMT 1
How much does it cost to convert to LPG and are most big retailers selling it now or it is just selected forecourts/garages?
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Baafly
Midland League Division Two
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Post by Baafly on Apr 27, 2005 13:43:46 GMT 1
Ever since the Oil shocks of the 1970s, Oil companies have been obliged by law (in most countries) to hold at least a couple of months worth of stocks. This means that, even if they have limited reserves, they will always make good money during times of rising oil prices.
And with World demand growing far more rapidly than supply can (ever again), those prices look set to continue upwards.
Oil companies have been extremely efficient in exploiting the globe's natural resources, and keeping their cost relatively low. What really needs to be tackled is Mankind's addiction to petrochemicals, not least in terms of pollution and the greenhouse effect.
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Baafly
Midland League Division Two
Posts: 179
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Post by Baafly on Apr 27, 2005 13:46:22 GMT 1
For your information, here is my estimate of how the cost of an 85p litre of petrol is made up:
Petrol 25.3p Duty 47.1p VAT 12.6p
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Post by OldGit on Apr 27, 2005 13:46:25 GMT 1
Depends on the age and type of car Phil. You can get a grant towards the cost, but I think the car has to be less than a certain age. www.greenfuel.org.uk/That should give you the details. Also there are websites listing the LPG outlets - as usual, the Government has not put much weight behind the initiative - I guess because they'd lose revenue! BTW LPG cars are not allowed through the Eurotunnel.
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matt
Midland League Division One
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Post by matt on Apr 27, 2005 14:34:41 GMT 1
they've got to make all the profits they can before all the oil runs out i guess...
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Post by meoleshrew2 on Apr 27, 2005 14:53:52 GMT 1
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Post by rob on Apr 27, 2005 15:14:39 GMT 1
tell me if im being blind, but i cant see where it tells you how miuch it costs to convert?
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Post by meoleshrew2 on Apr 27, 2005 15:19:22 GMT 1
tell me if im being blind, but i cant see where it tells you how miuch it costs to convert? fill in all the details on oldgits link then it lists how much for your car and where locally Lpg is available, guess the newer the car the cheaper?
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Post by grinfish on Apr 27, 2005 19:45:34 GMT 1
From the BBC website Rising oil prices boost BP profit Increased world oil prices have helped boost BP's profits over the past three months, the firm has said. BP said replacement cost net profit for the first three months of the year was $5.49bn (£2.87bn), up 29% on the same period a year ago. Any comments? The arm of the compnay that includes UK petrol sales has actually reduced it's profit margins. There's a million and one other petrochemical markets where they make most of the money (specialist markets will, of course, have higher profit margins).
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Post by SeanBroseley on Apr 27, 2005 22:47:48 GMT 1
Cairn's profits fell recently. That company has been the City's darling for the last 3-4 years on the basis mainly of what it is doing in Inida.
On balance of the evidence oil prices are likely to remain high and that is likely to at last causing a slowing of growth. Although India and China are seen as giving an inflationary impetus to global prices in fact the effect will be defltaionary because the much lower cost of production will deflate prices in end markets.
Whilst governments get castigated for giving away national soveriegnty to supra-national organisations companies with the word "British" in them will export our jobs and ecomomic prosperity abroad.
this morning I heard someone say that the oil production from the Middle Eat has peaked and there is a global need to get off oil. I wonder how possible that will be? I cannot see oil consumption reducing without it being a painful process of change.
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