Sunday, 24 March 2013

BP annual report for 2012

Managed to go through the BP annual report. What to say besides from that I hate annual reports that are thicker then my thesis but most companies seems to think today that if you can not perform then at least make a nice looking report. The report can be found here.

BP is in a status quo. The have sold of a lot of assets which kept their earnings at a similar level to 2011 and due to litigations they had increased costs. From what I saw though I would say that they are very close to the turning point and that 2013 will probably be the final year with low/lowered performance. I can only once again admit to the mistake of stepping in too early in BP.

They are expecting a significant decrease in oil prices for the coming years and in 2018 they think it will be 16% lower. This I did not expect. We shall see.

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