BP Restarts Dividend, Posts Mixed Q4 Results

Shrinking British oil company BP Plc announced quarterly profit down a fifth from a year ago, after it sold assets in preparation for what could be its biggest oil spill payout when the case comes to trial later this month. BP, the last of the big four western world oil companies to report fourth quarter figures, still beat expectations because of one-off taxes related to its divestments and liability payments, and its shares rose nearly 2%.

By Zvi Bar:On Friday, December 14, American Capital Agency Corp (AGNC) reported that it will maintain its quarterly dividend at $1.25 per share for the fourth quarter of 2012.

WASHINGTON — Transocean Ltd has agreed to pay US$1.4-billion to settle U.S. government charges arising from the massive 2010 BP Plc oil spill in the Gulf of Mexico, a source familiar with the matter said on Thursday. The settlement includes US$1-billion in civil penalties and US$400-million in criminal penalties, under terms scheduled to be announced later on Thursday, the source said. Shares of Transocean, a Swiss-based drilling contractor, were up 5.6% at US$48.84 on midday trading on the New York Stock Exchange. The Standard & Poor’s 500 Index was up 0.1%.

(NEW ORLEANS) — Oil giant BP has agreed to pay a criminal penalty in the billions of dollars for the 2010 oil spill in the Gulf of Mexico, a person familiar with the deal said Thursday. The person, who spoke on condition of anonymity because they were not authorized to speak on the record about the deal, also said two BP PLC employees face manslaughter charges over the death of 11 people in the explosion of the Deepwater Horizon oil rig that triggered the massive spill.

By Steven Dotsch:As dividend income investors, sustainability of our dividend income is all-important. How do BP (BP) and Shell (RDS.A) measure up?

British oil giant BP plc (BP) said it will sell its gas fields and gas pipeline in Vietnam as well as its Pakistan assets — worth about $1.7 billion — as part of its effort to raise $10 billion from divestments to cover Gulf of Mexico oil-spill cleanup costs, a spokesman for the company said [...]

The company is raising money to pay reparations for the Gulf of Mexico spill. Beleaguered petroleum giant BP agreed Tuesday to sell oil and natural gas fields in the United States and other countries to rival Apache Corp.