Tony Hayward, BP boss, yesterday was visit to Abu Dhabi, the capital of the United Arab Emirates, where many sovereign wealth funds are based. He there met leaders of ADIA, the authority of the State investments. What accredit press information according to which the oil company research support of the White Knight to protect themselves from a hostile takeover bid.
In a snowstorm since the explosion of one of its wells in the Gulf of Mexico April 20, BP has yet denied any desire to create new actions to prepare for such a scenario. The Stock Exchange also appreciated the remoteness of the risk of dilution of the title.
This does not prevent the visit of Tony Hayward be interpreted a minimum by investors as a sign that these rich dividends from the black gold sovereign wealth funds could buy existing BP shares. Shokri Ghanem, top leader of the Libyan oil business, said Tuesday at Bloomberg Television that the BP action was "a good opportunity." And yesterday, a Saudi economic newspaper raised the possibility that investors in the Kingdom take between 10 and 15. Without quoting any name.
Suddenly, the action of the Group continued its rebound yesterday, with a progression of 4.79 in London. Rising verges on the 19 from the low point of June 29. The visit to the water is not the only element crystallizing the hopes of investors. One well of derivation intended to relieve the leak could be ready sooner than expected, as early as July, instead of August. Political pressure on the group, while the spill key now the five States bordering the Gulf of the Mexico, could fall. Markets could then assess the damage with more composure and realize that they have surréagi, the most optimistic hope (read below).
Reassure partners
For the analyst of the oil sector of Royal Bank of Scotland, a study published Tuesday which took a high impact, cost the most pessimistic scenario - a little more than $ 60 billion - is already taken into account in the current cost of the action. It sets for BP a target of 455 pence, against 362,5 pence yesterday evening courses, and considers that the turn could intervene when the well of diversion will be implemented on.
To date, the management of the flight cost $ 3.1 billion to the British group, and it has set aside 20 billion to bear all the damages. (while some suggest an amount of $ 33 billion). According to the "Times" of London, the US Department of Justice would have received BP that it leaves the last word on any transaction - disposal of assets, restructuring-which could affect the ability of the group to pay what he promised. Abu Dhabi, Tony Hayward also met the leadership of its partner in the region, the Abu Dhabi National Oil Company (ADNOC), of which a licence must be renewed in 2014. After he left the United States, the BP boss will not only meet the investors: it around the world of the settlements of the group to reassure partners, worried of the future disposal plan. That which might have to leave the head of the group soon and visited Russia and Azerbaijan.
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