Good news for BP

[codprawn]

http://news.bbc.co.uk/1/hi/business/8233504.stm

Good news for Britain - the US and everyone really - BP has found a massive new oil field - 3 billion barrels.

Nice to see the largest oil producer in the US is British!!!

[doggypaddle]

Great petrol will soon be down to 70p a litre again

[codprawn]

Originally Posted by doggypaddle

Great petrol will soon be down to 70p a litre again

No a certain Mr Brown will see it as a great opportunity to put the tax up yet again - and people just roll over and take it - grrrrr!!!!!!!!!!!!!!!!

[HUMBER P4VWL]

As if they have just found it! The cinic in me would believe they know where plenty more is with the technology they have, funded by the serious oil profits of yesteryear. They just keep the world in suspense to keep prices high.

They have probably only now physically drilled to find it and clarified their thoughts.

[astra]

Price drop,yeah right would be nice though

[codprawn]

Originally Posted by HUMBER P4VWL

As if they have just found it! The cinic in me would believe they know where plenty more is with the technology they have, funded by the serious oil profits of yesteryear. They just keep the world in suspense to keep prices high.

They have probably only now physically drilled to find it and clarified their thoughts.

I doubt that very much. Rmember the ONLY reason we pay so much for fuel is TAX TAX TAX.

Without the tax petrol is prob about 35p per litre - I could live with that!!!

A petrol station makes more money on a small bottle of pop than they do on £20 of petrol - seriously!!!

Even more sickening - on a 40,000L load in a full tanker the filling station makes about £1200 - yes that's all. Gordon Brown makes about £28,000!!!

[chewy]

Have to agree with Codders (again), a mates friend owned a petrol station and he said the same, they make more on selling crisps and stuff.

[HUMBER P4VWL]

Whilst i agree codders that the reason we pay so much for fuel is because of tax and petrol stations make only tuppence on each litre if they are lucky, my point is it is in the interests of the oil companies to be cautious/discrete/lie about their oil reserves.

The oil companies/BP announce massive profits each year. It is they that i am on about, they disclose what stocks/reserves they "think" they have left which in turn influences crude oil prices and their profits. Occasionally they announce, "new" finds, I somehow think these are know by some internally rather earlier than they let on.

Wasn't really commenting on the fuel at the pump prices or who makes the bulk of the profit.

[HUMBER P4VWL]

just need to find another one of those wells on my dads farm and i'll buy everyone on ribnet free fuel!! Just going to go get a spade!

[Polwart]

Originally Posted by codprawn

A petrol station makes more money on a small bottle of pop than they do on £20 of petrol - seriously!!!

No bloody wonder - have you seen what they charge for that stuff. 500mL about £1.50+ - that's 3x the price of petrol (10x the price of petrol without duty) and most of its water!