Bp What A Joke 148% Profit

[mattstheone]

BP Just announce Record Profits 148% up on last qtr

Oil giant BP has soared to mammoth third-quarter profits of 10 billion US dollars (£6.4bn) as the firm reaped the benefits of record prices.

The company's huge haul for the July-September period is 148% above the same period last year.

Its profits came as crude oil prices hit a new peak above 147 US dollars a barrel in mid-July.

NO WONDER THIS WORLD IS SCREWED UP

& I BET IT WAS THERE TRADERS ON THE FLOORS THAT WAS PUSHING THE MARKET PRICE UP OF A BARREL OF CRUDE

OIL

BUT AS USUAL THEY WILL SAY WE DONT MAKE OUR MONEY FROM SELLING PETROL .

IT MUST BE THE LEMONADE STALL THEY RUN THEN

I REALLY HOPE THE GOVERNMENT TAX THEM REALLY HEAVY ON IT

I HOPE THEY ENJOY WHAT THEY AND THE THE OTHER OIL COMPANIES HAVE DONE TO THE ECONOMY

AS ALL THIS TROUBLE STARTED BECAUSE OF THE COST OF OIL

NOTHING ELSE.

oh and THE NEWS MEDIA IN THIS COUNTRY AS ALL THEY DO IS SPREAD DOOM & GLOOM

Regards

Matt

[Mike_B]

NO WONDER THIS WORLD IS SCREWED UP

& I BET IT WAS THERE TRADERS ON THE FLOORS THAT WAS PUSHING THE MARKET PRICE UP OF A BARREL OF CRUDE

OIL

BUT AS USUAL THEY WILL SAY WE DONT MAKE OUR MONEY FROM SELLING PETROL .

IT MUST BE THE LEMONADE STALL THEY RUN THEN

I REALLY HOPE THE GOVERNMENT TAX THEM REALLY HEAVY ON IT

I HOPE THEY ENJOY WHAT THEY AND THE THE OTHER OIL COMPANIES HAVE DONE TO THE ECONOMY

AS ALL THIS TROUBLE STARTED BECAUSE OF THE COST OF OIL

NOTHING ELSE.

oh and THE NEWS MEDIA IN THIS COUNTRY AS ALL THEY DO IS SPREAD DOOM & GLOOM

They don't make money on petrol - as has been said many dozens of times on here and every other forum, most of the cost of petrol (roughly 75p a litre) is tax. And the government will tax them on it, just like any other business. 28% to be exact, which will be somewhere around £1.8bn for this quarter alone. Oil is bought and sold on open markets, do you seriously expect a company to say 'no, don't pay us $140 a barrel, we only want $50'? What's wrong with a British company making serious money in a global market - at least we get the benefit of the tax it brings in! And it's one of the few industries left that we are really, really good at.

If you want to rant at someone, rant at the government. This thieving bunch of cretinous scumbags we have at the moment are doing a great job in just one respect - convincing people that it's not their fault (aided and abetted in this by the business editor of the BBC, the son of a Labour peer). But it's exactly their fault, and we mustn't let them forget it for a second. Roll on 2010.

[Mr Mole]

All I can say is well done to the Oil Companies

When they are making good money like this they also invest it into exploration,drilling and new rigs.

Which in turn is good for the workers in the Oil Industry.

Its just the tax that the government screws us all on that pi$$es everyone off

[84Stoney]

BUT AS USUAL THEY WILL SAY WE DONT MAKE OUR MONEY FROM SELLING PETROL .

IT MUST BE THE LEMONADE STALL THEY RUN THEN

To be honest Matt, most Petrol Stations make very small margins on the fuel they sell, and more from the chocolate bars, cigarettes and yes, in part, lemonade! Though I'm talking here on a forecourt level, and many station are not even owned by the oil companies!

If UK companies are making money then it cant that bad a thing. If they were not, it would only be foreign companies picking up the difference.

On the whole, I agree with Mike_B. It's the government that is most at fault here, combined with the media scaring the public.

[mattstheone]

NO WONDER THIS WORLD IS SCREWED UP

& I BET IT WAS THERE TRADERS ON THE FLOORS THAT WAS PUSHING THE MARKET PRICE UP OF A BARREL OF CRUDE

OIL

BUT AS USUAL THEY WILL SAY WE DONT MAKE OUR MONEY FROM SELLING PETROL .

IT MUST BE THE LEMONADE STALL THEY RUN THEN

I REALLY HOPE THE GOVERNMENT TAX THEM REALLY HEAVY ON IT

I HOPE THEY ENJOY WHAT THEY AND THE THE OTHER OIL COMPANIES HAVE DONE TO THE ECONOMY

AS ALL THIS TROUBLE STARTED BECAUSE OF THE COST OF OIL

NOTHING ELSE.

oh and THE NEWS MEDIA IN THIS COUNTRY AS ALL THEY DO IS SPREAD DOOM & GLOOM

They don't make money on petrol - as has been said many dozens of times on here and every other forum, most of the cost of petrol (roughly 75p a litre) is tax. And the government will tax them on it, just like any other business. 28% to be exact, which will be somewhere around £1.8bn for this quarter alone. Oil is bought and sold on open markets, do you seriously expect a company to say 'no, don't pay us $140 a barrel, we only want $50'? What's wrong with a British company making serious money in a global market - at least we get the benefit of the tax it brings in! And it's one of the few industries left that we are really, really good at.

If you want to rant at someone, rant at the government. This thieving bunch of cretinous scumbags we have at the moment are doing a great job in just one respect - convincing people that it's not their fault (aided and abetted in this by the business editor of the BBC, the son of a Labour peer). But it's exactly their fault, and we mustn't let them forget it for a second. Roll on 2010.

OK point taken ref the Tax from Brown and his merry bunch, but sorry to dissapoint you but in 2010 do you really think the next lot waiting to get in power will be any better, i doubt it, they will just carry on the same. as has just been shown in the Media with a Russian and a Boat.

The Damage was started long before Brown n Blair got in power, Everything this country(sorry we) Owned got sold off

to other countries and who did that benifit, Maggie and co. so the Next Party is as bad as the Last.

[Mike_B]

OK point taken ref the Tax from Brown and his merry bunch, but sorry to dissapoint you but in 2010 do you really think the next lot waiting to get in power will be any better, i doubt it, they will just carry on the same. as has just been shown in the Media with a Russian and a Boat.

The Damage was started long before Brown n Blair got in power, Everything this country(sorry we) Owned got sold off

to other countries and who did that benifit, Maggie and co. so the Next Party is as bad as the Last.

Yes, you're right in part. That incident on the boat though - this would be the boat a certain Peter Mandelson was ALSO on? The one who, as EU Trade Minister, has had a series of meetings with Oleg Deripaska ($16bn made in aluminium smelting) just prior to a reduction in EU import tariffs on Russian aluminium? This would be the same Peter Mandelson who 'forgot' that he had met the man several times well prior to 2006, before those duties were reduced...

And Brown has just brought him back into government - and into the house of Lords to boot? Jail would be the best place for that creepy, treasonous little twerp. I'd quite like to see the Beeb answering for why they focussed so heavily on the George Osborne non-story, when he blantantly didn't actually do anything illegal, and ignored Mandelson's part in what amounts to a stitch-up?

The Sun has a column on this today... link

Anyway I'll leave it there, before I start to sound like Tyger when someone criticises apple! :)

[DJ Wozza]

whatever evidence people produce to stick up for the oil companies so we 'feel' sorry for them...

when oil was the same price per barrel as it is now, petrol was still some 15 pence per litre cheaper.

Nuff said :winky:

[Mike_B]

Fair point - I think it will come down a bit more from where it is now though. It's 96.9 at my local Sainsburys now, and with a 5p per litre off voucher from shopping there that comes down to 91p obviously. And it's not been that price for a while (I hesitate to say 'that cheap'!!)

[Sagitar]

And please don't forget that BP shareholders include your pension funds and lots of people like me who invested our retirement funds with them. Even after the government has had its tax on sales and its VAT, BP has to pay corporation tax on its profits and I pay 40% income tax on the dividend that my shares generate. There cannot be many companies that generate more money for the government than does BP.

[Tango]

And please don't forget that BP shareholders include your pension funds and lots of people like me who invested our retirement funds with them. Even after the government has had its tax on sales and its VAT, BP has to pay corporation tax on its profits and I pay 40% income tax on the dividend that my shares generate. There cannot be many companies that generate more money for the government than does BP.

...only too true, and not forgetting those who work for the company

[Chris Skelton]

Hooray! WE've got past the 'thieving moneybags" kneejerk reaction. Just think how much more TAX we paid when the price rocketed! Didn't notice Inland Rev saying" Oh, all right, we'll just take a fixed amount per litre!"!!!

BP etc don't make a huge PERCENTAGE profit as they are a HUGE company. And soon they'll have to start on alternatives even more.

We pay a huge % tax on fuel; and does it get fed back into TRANSPORT? Is that a flying pig I see? We even get charged if we want to STOP on the road we've already paid for (AKA Parking) Here in Bristol there seems to be a concerted effort to narrow all the roads; reduce lanes = more congestion.

THEN......Congestion Charges!!

The first Party to support Motorist might surprise folk and get elected?

[ihpj]

I think what the OP was trying to highlight was the amount of profit BP (as an oil company) have made.

It will be interesting to note how much profit they make in the coming quarters, given not only the toughening economic conditions, but also the lower price (demand?) for oil.

Obscene profits? Perhaps. contributed by the fact that when oil goes up, they are quick to put prices up - yet when it falls and falls significantly, they are slow to respond. I guess thats where they maximise their profits and that is unacceptable.

[LexusIS200Sam]

i think having my car back and me running on BP ultimate might have something to do with it haha!!

[Mark W]

Just think how much more TAX we paid when the price rocketed! Didn't notice Inland Rev saying" Oh, all right, we'll just take a fixed amount per litre!"!!!

For the majority of the revenue gathered it is a fixed price on volume and always has been (the fuel duty)

Where the government do gain from hikes in fuel price is due to the increased VAT they collect.

[Yeldarb]

BUT AS USUAL THEY WILL SAY WE DONT MAKE OUR MONEY FROM SELLING PETROL .

IT MUST BE THE LEMONADE STALL THEY RUN THEN

To be honest Matt, most Petrol Stations make very small margins on the fuel they sell, and more from the chocolate bars, cigarettes and yes, in part, lemonade! Though I'm talking here on a forecourt level, and many station are not even owned by the oil companies!

If UK companies are making money then it cant that bad a thing. If they were not, it would only be foreign companies picking up the difference.

On the whole, I agree with Mike_B. It's the government that is most at fault here, combined with the media scaring the public.

Shell garage owners make about 1p per/L on petrol. I have a good friend who owns (well owns the franchise) one in MK, so like everyone else he knows I asked for "mates Rates" only to be shown the real life books for the station. It also takes about 10 years for a forecourt to pay off the cost of an LPG pump so no wonder alternative fuels are not catching on at the pace 1st envisaged.

[Parthiban]

Yep I don't think we should be too harsh on them, I don't quite understand how they make so much money but good on them. It's their tax money that helps run this joke of a country and it's not a direct effect on our fuel prices.

I agree that it isn't currently reflecting the oil barrel prices, but that's the way of the world, I'd be more surprised if the price suddenly dropped, as then everyone would be complaining again if it started to rise again. This way they can try to stabilise the price against future changes.

I'm more annoyed at Brown telling them to drop prices, most of the price is tax, so if you've got a problem with the pump prices, drop the tax! :tsktsk:

[Yeldarb]

Can't we just drop somthing brown on Mr Brown, he likes doing it to us

[Mike_B]

Can't we just drop somthing brown on Mr Brown, he likes doing it to us

How about a P45? :D