UK Lawmakers Launch Inquiry Into UK Deep-Water Oil Drilling
21st Jul 2010 17:14
LONDON (Dow Jones)--A U.K. parliamentary committee said Wednesday it is to launch an inquiry into the implications of the Gulf of Mexico oil spill on deep-water drilling in the U.K. The Energy and Climate Change Committee will question BP PLC (BP) and environmental and industry experts to evalua
Read moreLondon close: Good gains for FTSE 100
21st Jul 2010 17:04
Footsie's advance was pared slightly at the close of trading but shares still finished with strong gains. Mining stocks led the advance as copper inventories continue to contract, with Kazakhmys, Antofagasta, Vedanta and Xstrata at the head of the pack. Sticking with the resource sector, mining a
Read moreFERC Approves Pipeline To Planned Mississippi LNG Terminal
21st Jul 2010 16:51
By Christine Buurma Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Federal regulators have approved a pipeline connection between a new liquefied natural-gas import terminal under development in Mississippi and existing pipeline systems that bring gas to eastern U.S. markets. The $59 mill
Read moreUS: Gulf Skimming Vessels Having 'Trouble' Finding Any Oil
21st Jul 2010 16:45
WASHINGTON (AFP)--Some 750 boats drafted in to scoop up oil from the Gulf of Mexico are having "trouble" finding any crude in the sea, a top U.S. official said Wednesday, almost a week after a busted well was capped. "We are starting to have trouble finding oil," U.S. pointman Admiral Thad Allen
Read morePRESS RELEASE: Moody's Placed Apache's Corporation's Ratings Under Review For Downgrade
21st Jul 2010 16:11
The following is a press release from Moody's Investors Service: Nearly $5 billion of rated debt affected New York, July 21, 2010 -- Moody's Investors Service placed Apache Corporation's ratings under review for downgrade following its announced $7 billion all cash asset acquisition from BP PLC,
Read moreUPDATE: BP Alaska Fields Still On Table In Asset Sale-Sources
21st Jul 2010 15:56
(Adds background, further comment) By James Herron Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Some of BP PLC's (BP) oil production assets in Alaska remain up for sale, despite not being included in a $7 billion package of assets sold to U.S. energy company Apache Corp. (APA) Tuesday, said
Read moreCORRECT: New York, Ohio Pensions May Lead Fraud Suit Vs. BP
21st Jul 2010 15:46
Public pension funds in New York and Ohio said they may be the lead plaintiffs in a class-action fraud lawsuit against BP PLC (BP, BP.LN). The headline "New York, Ohio Pensions Lead Fraud Suit Vs BP Oil Firm" at 10:25 a.m. EDT incorrectly stated that the pensions would lead the lawsuit, implying tha
Read moreBP Alaska Fields Still On Table As Asset Sales Continue-Sources
21st Jul 2010 15:39
LONDON (Dow Jones)--Some of BP PLC's (BP) oil production assets in Alaska remain up for sale, despite not being included in a $7 billion package of assets sold to U.S. energy company Apache Corp. (APA) Tuesday, said people familiar with the matter Wednesday. BP is also proceeding quickly with ta
Read moreMARKET TALK: Apache Seen As Paying Premium For BP's Permian Basin Assets
21st Jul 2010 15:24
[Dow Jones] Apache acquisition of BP PLC's (BP) assets in the Permian Basin in Texas for $3.1 billion is a slight premium to other transactions done in the area this year, says Tudor Pickering Holt & Co. This means Apache sees the best opportunity in the Permian and does not want preferential rights
Read moreRefinery Status: A Shell Deer Park Plant Unit Shut By Fire Tue
21st Jul 2010 15:23
DOW JONES NEWSWIRES The following table lists unplanned and planned production outages at U.S. refineries as reported by Dow Jones Newswires. The information is compiled from both official and unofficial refining sources and doesn't purport to be a comprehensive list. An unspecified process
Read moreRefinery Status: A Shell Deer Park Plant Unit -2-
21st Jul 2010 15:23
b/d, to 610,000-b/d, slowed. Completion now seen 1Q 2012, from 2010. Valero Corpus 340.0 West Plant 50,000-b/d FCCU at Christi, TX reduced rates since mid-Dec for economic reasons.
Read morePRESS RELEASE: New York, Ohio Pension Funds Join Forces In BP Action
21st Jul 2010 15:23
NEW YORK, OHIO PENSION FUNDS JOIN FORCES IN BP ACTION DiNapoli, Ohio AG Cordray File Petitions Seeking Co-Lead Plaintiff Status New York State Comptroller Thomas P. DiNapoli and Ohio Attorney General Richard Cordray announced that the $132 billion New York State Common Retirement Fund (Fund)
Read moreNew York, Ohio Pension Funds May Lead BP Class-Action Suit
21st Jul 2010 15:22
DOW JONES NEWSWIRES Public pension funds in New York and Ohio said they hope to be the lead plaintiffs in a class-action lawsuit against BP PLC (BP, BP.LN), whose share price has plummeted because of its months-long oil spill in the Gulf of Mexico. The lawsuit alleges that BP, the oil giant
Read moreMARKET TALK: CDS On Apache, BP Fall After Asset Sale News
21st Jul 2010 15:05
1403 GMT [Dow Jones] The cost to insure debt issued by Apache Corp. via credit default swaps fell 8.5% to 90.8BP after the company announced it will buy certain oil and gas assets from BP Plc for $7 billion. Apache was raised to 'sector perform' from 'underperform' by Scotia Capital analysts after t
Read moreMARKET TALK: BP Deal Seen As Dilutive For Apache, But Outlook Is Good
21st Jul 2010 14:46
[Dow Jones] Apache Corp.'s (APA) acquisition of some BP PLC's (BP) assets for $7 billion will be initially dilutive, but the company is well positioned to create additional value from the purchase in the long term, says Tudor Pickering Holt & Co. BP agreed to sell to Apache its Permian Basin assets
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