Research & Development World

  • Home Page
  • Topics
    • Aerospace
    • Archeology
    • Automotive
    • Biotech
    • Chemistry
    • COVID-19
    • Environment
    • Energy
    • Life Science
    • Material Science
    • R&D Market Pulse
    • R&D Management
    • Physics
  • Technology
    • 3D Printing
    • A.I./Robotics
    • Battery Technology
    • Controlled Environments
      • Cleanrooms
      • Graphene
      • Lasers
      • Regulations/Standards
      • Sensors
    • Imaging
    • Nanotechnology
    • Scientific Computing
      • Big Data
      • HPC/Supercomputing
      • Informatics
      • Security
      • Software
    • Semiconductors
  • 2021 R&D 100 Award Winners
    • R&D 100 Awards
    • 2020 Winners
    • Winner Archive
  • Resources
    • Digital Issues
    • Podcasts
    • Subscribe
  • Global Funding Forecast
  • Webinars

S & P raises outlook for oil giant BP

By R&D Editors | July 17, 2012

Standard & Poor’s Rating Services raised its outlook on BP PLC, citing an improving financial risk profile for the oil giant more than two years after the Gulf of Mexico oil spill.

S&P said Tuesday that BP’s outlook was revised to “Positive” from “Stable.” The company also affirmed its investment-grade “A/A-1” ratings on long- and short-term corporate credit.

BP, based in London, owned the Macondo well that exploded in April 2010 in the Gulf of Mexico. Eleven workers were killed and more than 200 million gallons of oil spilled into the water.

BP’s annual payments stemming from the oil spill likely will decline in 2012 and 2013, S&P said. In addition, asset sales and medium-term production growth should help improve credit metrics.

S&P said it could raise the rating by a notch in the next one to two years if BP’s credit measures continue to strengthen and are sustainable, it has a strong operating performance and returns to production growth in regions such as the U.S. and United Kingdom.

The ratings agency said the outlook could be lowered to stable if the remaining near-term cash payments related to the spill are more than the $20 billion S&P has estimated.

It also could lower the outlook if BP approves substantial increases to shareholder distributions before it has reduces debt through planned asset sales and completed most of the Gulf payments.

Shares of BP rose 20 cents to $41.55 in afternoon trading. The price has ranged between $33.62 and $48.34 in the past 52 weeks.

Related Articles Read More >

U.S. DOE grants $25M to advance clean hydrogen technologies for electricity generation 
SOLiTHOR seeds $10.6M to develop a new solid-state battery cell technology
Powering the moon: Sandia researchers design microgrid for future lunar base
Advanced Ionics secures $4.2M for decarbonization of industrial hydrogen production
2021 R&D Global Funding Forecast

Need R&D World news in a minute?

We Deliver!
R&D World Enewsletters get you caught up on all the mission critical news you need in research and development. Sign up today.
Enews Signup

R&D World Digital Issues

February 2020 issue

Browse the most current issue of R&D World and back issues in an easy to use high quality format. Clip, share and download with the leading R& magazine today.

Research & Development World
  • Subscribe to R&D World Magazine
  • Enews Sign Up
  • Contact Us
  • About Us
  • Drug Discovery & Development
  • Pharmaceutical Processing
  • 2021 Global Funding Forecast

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search R&D World

  • Home Page
  • Topics
    • Aerospace
    • Archeology
    • Automotive
    • Biotech
    • Chemistry
    • COVID-19
    • Environment
    • Energy
    • Life Science
    • Material Science
    • R&D Market Pulse
    • R&D Management
    • Physics
  • Technology
    • 3D Printing
    • A.I./Robotics
    • Battery Technology
    • Controlled Environments
      • Cleanrooms
      • Graphene
      • Lasers
      • Regulations/Standards
      • Sensors
    • Imaging
    • Nanotechnology
    • Scientific Computing
      • Big Data
      • HPC/Supercomputing
      • Informatics
      • Security
      • Software
    • Semiconductors
  • 2021 R&D 100 Award Winners
    • R&D 100 Awards
    • 2020 Winners
    • Winner Archive
  • Resources
    • Digital Issues
    • Podcasts
    • Subscribe
  • Global Funding Forecast
  • Webinars