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June 30th, 2010:

Vultures circle BP over fears its days are numbered in US

guardian.co.uk home

Oil firm’s shares surge 9% after speculation prompts takeover talk

Terry Macalister: Wednesday 30 June 2010 18.57 BST

A protester demonstrates at a BP petrol station in Manhattan. The company has been vilified in the US. Photograph: Mary Altaffer/AP

In the past an almost double-digit percentage increase in the BP share price would have signalled a spectacular oil strike. It is a measure of the decline in the company’s fortunes that such a surge was triggered by hopes of a takeover or break-up.

The company’s stock soared 9% to 331p at one point as a growing list of companies from China to Russia were linked with potential mega-mergers that could see the end of independence for what was once Britain’s biggest firm. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

A warning about Aviva car insurance

By John Donovan

A couple of days ago I made a telephone call to Aviva to notify the company I was switching to another car insurer.

I had discovered that similar, although not identical comprehensive cover, could be obtained from a competitor at a lot less than half of the comprehensive insurance premium I was paying. Basically both policies allowed me to drive my car under comprehensive cover.

I had not bothered to check comparable prices for may years.  I had left myself in the hands of a major insurer, Aviva, formally known as Norwich Union Direct, trusting they would remain competitive. Huge mistake on my part. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Exxon or Shell should buy BP for £88bn, says analyst

Daily Telegraph: BP’S share price fell by a further 2pc, after a prominent City expert suggested it should be bought by US rival Exxon Mobil in the wake of the Gulf of Mexico oil spill.

By Rowena Mason, Energy Correspondent
30 June 2010

A sea turtle covered in oil from the Deepwater Horizon oil spill swimming off the Grand Terre Island.

Fred Lucas, an energy analyst at JP Morgan Cazenove, speculated that Exxon or Shell could swoop on the beleagured British oil giant for approximately £88bn. Exxon is the most financially strong oil company, he said, adding that it could make a cash and stock offer while spinning off $50bn (£33bn) of refining and marketing assets.

“We must emphasise,” Mr Lucas adds in the note, “that this is our idea and it is only an idea.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Will BP be bought by a US rival? I doubt it

Daily Telegraph

Given America’s dislike, nay hatred, of BP it would be ironic if a US company ended up buying it.

By Damian Reece, Head of Business
Published: 7:00AM BST 30 Jun 2010

US oil company Exxon Mobil has been touted as a possible buyer of BP

But that’s exactly what analysts at JP Morgan Cazenove have been postulating in a research note published on Tuesday. They describe a $133bn (£90bn) bid versus BP’s current value of $89bn (£60bn). The suitor? Exxon Mobil.

I’m sure Exxon’s boss, Rex Tillerson, has been watching events in the Gulf more closely than most. Likewise Peter Voser, his opposite number at Royal Dutch Shell. The value on offer at BP’s current stockmarket price is as obvious to them as it is to JP Morgan Cazenove. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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