oil

Invesco Perpetual head of investments Neil Woodford says it is 'reckless' to believe BP's $20bn compensation package will mark the end of the oil giant's worries.

BP is trying to raise $50bn to cover the cost of the Gulf of Mexico disaster, while the oil giant is also preparing to sue a partner in the Deepwater Horizon rig.

Royal London has scaled back its UK earnings forecast, following the BP oil spill, though it believes UK equities look attractive over the longer term.

BlackRock's Sam Vecht is bullish about the long-term prospects for Russia, arguing there is more to the country's economy than oil.

Schroders' Income Maximiser fund has used its call writing strategy to obtain high yields from BP at a time when other equity income funds were hit by the oil giant cancelling its dividend.

Russian President Dmitry Medvedev believes the Gulf of Mexico spill could lead to the "annihilation" of oil giant BP.

Besieged BP chief Tony Hayward yesterday declared his "deep sorrow" over the Gulf of Mexico oil spill after US Congressman accused his company of "astonishing complacency" and of having a "cavalier attitude to risk".

BP will not pay dividends for the remainder of the year after being forced to put $20bn (£13.5bn) into a compensation fund for victims of the Gulf of Mexico oil spill.

Investec's Alastair Mundy topped up his high-conviction position in BP last week, saying the oil giant remains a "very interesting investment opportunity".

Mega-cap oil companies have failed to benefit fully from the long-term rising oil price because of large investments they have made in tangential areas, says the manager of the Junior Oils Trust.