Essar Group CEO: In Preliminary Talks For Vodafone Essar IPO
29th Jul 2010 09:41
NEW DELHI (Dow Jones)--Essar Group, the diversified Indian conglomerate, said Thursday it is in early talks with Vodafone Group PLC (VOD) for an initial public offering of their telecommunications joint venture, Vodafone Essar Ltd. "It is in preliminary discussions," Essar Group Chief Executive
Read moreIndia Upstream Regulator: BP Wants To Give Up West Bengal Coal Seam Block
29th Jul 2010 07:37
NEW DELHI (Dow Jones)--BP PLC (BP) wants to give up a coal seam block in eastern India's West Bengal state, the country's upstream regulator said Thursday. "BP has put up a request they would like to walk away from the Birbhum CBM (coal-bed methane) block," S.K. Srivastava, director general of h
Read moreThursday newspaper round-up: BP, Russia, Banks
29th Jul 2010 06:12
BP has fired the starting gun on a $30 billion fire sale, holding talks with TNK-BP, its Russian joint venture, about the sale of a $1 billion package of oil projects in Venezuela, the Times has learnt. The talks, part of a programme of disposals designed to shore up BP's finances in the wake of the
Read moreThursday tips round-up: BP, BG, Sage
29th Jul 2010 06:08
BP unveiled a $32.2bn (£20.7bn) charge related to the oil spill on Tuesday. This is not a full and final figure for the costs involved in the catastrophe, but a rough assessment. The Telegraph feels that a hold rating on the shares is appropriate. If you want to put new money into the sector and gen
Read more100 Days In, Gulf Spill Leaves Ugly Questions Unanswered
29th Jul 2010 02:30
WASHINGTON (AFP)--The Gulf of Mexico oil disaster reached the 100-day mark Wednesday with hopes high that BP PLC (BP) is finally on the verge of permanently sealing its ruptured Macondo well. But years of legal wrangles and probes lie ahead and myriad questions remain about the long-term effects
Read moreBP Asks US Lawmakers To Soften Offshore Drilling Legislation
29th Jul 2010 02:14
By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--BP PLC (BP, BP.LN) on Wednesday appealed to House leaders to soften legislation that responds to the company's oil spill in the Gulf of Mexico, citing concern about the "drastic impact" the legislation could have for the econom
Read moreUS House Set To Vote On Offshore-Drilling Overhaul
29th Jul 2010 00:39
By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--The U.S. House of Representatives is set to vote Friday on remaking the entire offshore-drilling system, setting up a fight over how far the government should go in removing support for the industry and instituting new safeguar
Read moreUS Senator Landrieu Develops New Oil-Spill Liability Plan
28th Jul 2010 23:05
By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Sen. Mary Landrieu (D., La.) is attempting to overcome partisan debate over oil-spill liability caps by developing a proposal that could serve as an alternative to plans floated by Republicans and Democrats as they try to put t
Read moreUS Government: BP's Relief Well, 'Static Kill' Still On Schedule
28th Jul 2010 22:32
By Susan Daker OF DOW JONES NEWSWIRES HOUSTON (Dow Jones)--BP (BP BP.LN) remains on schedule to move forward with a "static kill" and then start the completion of a relief well, the federal response commander said Wednesday. The "static kill" should start on Aug. 2, said Ret. Coast Guar
Read moreUpstream Insurance Sector Sees Ripples From Gulf Rig Explosion
28th Jul 2010 22:20
By Alistair Barr The Deepwater Horizon explosion triggered the worst offshore environmental disaster in U.S. history and humbled BP PLC (BP, BP.LN), one of the world's largest companies. But in the insurance world, the catastrophe is leaving only small waves in its wake. Chubb Corp. (CB), a
Read moreBrazil's Petrobras To Look At Rig Safety After US Gulf Spill
28th Jul 2010 21:13
By Jeff Fick and Diana Kinch Of DOW JONES NEWSWIRES RIO DE JANEIRO (Dow Jones)--The oil disaster in the U.S. Gulf of Mexico will force Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, to take a hard look at safety on its offshore rigs as the state-run energy giant works to avoid similar p
Read more2nd UPDATE:Conoco's Lukoil Exit Marks Sour End To Russia Investment
28th Jul 2010 18:51
(Rewrites, adds analyst comment and background.) By Jacob Gronholt-Pedersen Of DOW JONES NEWSWIRES MOSCOW (Dow Jones)--ConocoPhillips (COP) Wednesday said it would sell its entire stake in Russia's OAO Lukoil Holdings (LKOH.RS), terminating what had been one of the highest-profile invest
Read moreMARKET TALK: BP Bond Rally Stays Hot, But Volume Lessens
28th Jul 2010 18:43
1743 GMT [Dow Jones] BP bond prices are up across the board, staying hot for a third day in a row, though trading volumes are muted compared with Tue. BP 3.625% notes due 2014 last traded up near 1 1/4PTs to yield 4.437%, according to MarketAxess. BP 4.75% notes due 2019 last traded around 1 15/16PT
Read moreSEC Probing Trading In BP From April 20 To Late June -CNBC's Kelly
28th Jul 2010 17:45
DOW JONES NEWSWIRES The U.S. Securities and Exchange Commission is looking into unusual trading in the shares of BP PLC (BP, BP.LN) between April 20 and late June, CNBC's Kate Kelly reported Wednesday, citing people familiar with the matter. The SEC's focus in the informal investigation is
Read moreEni's Italy Assets Sale On Hold Due To Offshore Drilling Curbs
28th Jul 2010 17:08
ROME (Dow Jones)--The expected sale of Eni SpA's (E) Italian hydrocarbon assets is on hold as a result of the country's restrictions on offshore drilling, said Chief Financial Officer Alessandro Bernini Wednesday. The sale of these assets is on "hold," said the CFO, who was speaking on a confere
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