UPDATE: BP To Sell Assets In Vietnam, Pakistan
20th Jul 2010 17:49
By James Herron and Jeffrey Sparshott Of DOW JONES NEWSWIRES LONDON (Dow Jones)--BP PLC (BP) will sell its gas fields and gas pipeline in Vietnam, as well as assets and exploration licenses in Pakistan, as part of its effort to cover the cost of the Gulf of Mexico oil spill, a spokesman for
Read moreLawmakers Clash Over Government Responsibility for BP Spill
20th Jul 2010 16:15
By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Republicans and Democrats clashed Tuesday over government responsibility for the BP PLC (BP, BP.LN) oil spill, as officials who oversaw offshore drilling starting in the Bush administration prepared to testify before Congress
Read moreBP: To Sell Vietnam Gas Fields, Pipeline
20th Jul 2010 16:07
LONDON (Dow Jones)--BP PLC (BP) will sell its gas fields and gas pipeline in Vietnam as part of its effort to raise $10 billion from divestments to cover the cost of the Gulf of Mexico oil spill, a spokesman for the company said Tuesday. "We have talked to the government and staff," about the pl
Read moreUPDATE: UK Cable: No Reason To Assume Future BP Takeover Bid
20th Jul 2010 15:06
(Updates throughout with more detail) By Laurence Norman Of DOW JONES NEWSWIRES LONDON (Dow Jones)--BP PLC (BP) is strong and there is no reason to assume there will be a takeover bid for the company, U.K. Business Secretary Vince Cable said Tuesday. "It's actually a very strong comp
Read moreBP: To Sell Oil,Gas Production, Exploration Assets In Pakistan
20th Jul 2010 14:33
LONDON (Dow Jones)--BP PLC (BP) plans to sell its oil and gas production assets and exploration licenses in Pakistan as part of a divestment process aimed at raising $10 billion to cover the cost of the Gulf of Mexico oil spill, a company spokesman said Tuesday. Pakistan is not a core area for B
Read moreUK Business Sec: No Reason To Assume Future BP Takeover Bid
20th Jul 2010 13:31
LONDON (Dow Jones)--BP PLC (BP) is strong and there is no reason to assume any takeover bid for the company, U.K. Business Secretary Vince Cable said Tuesday. "It's actually a very strong company financially, in terms of its cashflow and its balance sheet and there is no reason to assume that th
Read moreEARNINGS PREVIEW: BP's Woes Set To Dominate UK Oil Sector 2Q
20th Jul 2010 10:28
By James Herron Of DOW JONES NEWSWIRES TAKING THE PULSE: Second quarter earnings in the U.K. oil sector will unsurprisingly be dominated by news about BP PLC's (BP) continuing response to the Gulf of Mexico oil spill. Although the company has, at least temporarily, capped the leaking well, m
Read moreBP: Won't Release Findings Of Oil Spill Probe Next Week
20th Jul 2010 10:12
LONDON (Dow Jones)--BP PLC (BP) won't release next week preliminary findings from its internal investigation into the explosion aboard the Deepwater Horizon drilling rig that triggered the three-month-long oil spill into the Gulf of Mexico, a spokesman for the company said Tuesday. BP will publi
Read moreTuesday newspaper round-up: Woodford, Boeing, BP
20th Jul 2010 06:35
One of the energy industry's biggest shareholders has threatened to block all new investments in British renewables unless the Government increases the returns available to investors and gives greater certainty over its future policy. Neil Woodford, the head of investment at Invesco Perpetual ? whi
Read moreBP Gets Vote Of Confidence From Egypt Deep Water Deal
20th Jul 2010 04:52
(This item was originally published Monday.) LONDON (Dow Jones)--BP PLC (BP) said Monday it has signed a new agreement in Egypt to develop significant gas resources in two deep water blocks--a badly needed vote of confidence in the U.K. company whose reputation has been damaged by the deep water
Read moreLibya's Ghanem Says No Link Between $900M BP Deal,Megrahi Release
20th Jul 2010 04:51
(This item was originally published Monday.) DUBAI (Zawya Dow Jones)--Libya's top oil official has rejected suggestions that a $900 million oil deal awarded to U.K. oil major BP PLC (BP) in 2007 was linked to the release of convicted Lockerbie bomber Abdel Baset Al Megrahi. "I was leading th
Read moreWarned On Future, Nations Look At Clean Energy
20th Jul 2010 02:55
WASHINGTON (AFP)--The world's leading nations were expected Tuesday to announce initiatives to cooperate on clean energy, after a top policy board warned that the world's current path on power was unsustainable. Senior officials from 21 economies making up 80% of global gross domestic product we
Read moreGulf Oil Spill May Cost 17,000 Jobs: Moody's - Bloomberg
20th Jul 2010 02:33
DOW JONES NEWSWIRES The BP PLC (BP) oil spill could cost the U.S. Gulf Coast region 17,000 jobs and about $1.2 billion in lost economic growth by year-end even if the flow is halted next month, Bloomberg News reported on its website Monday, citing Moody's Analytics. In a different scenari
Read moreUPDATE: US Government: No Indication That Leak On Well Is Significant
19th Jul 2010 23:01
(Updates with more details from teleconference). HOUSTON (Dow Jones)--Oil-spill responders have detected a leak around the cap that has temporarily shut in BP PLC's (BP, BP.LN) broken well, but it may not be "significant," the U.S. federal response commander said Monday. "It's not a huge le
Read moreUS Government: No Indication That Leak On Well Is Significant
19th Jul 2010 22:18
HOUSTON (Dow Jones)--Oil-spill responders have detected a leak around the cap that has temporarily shut in BP PLC's (BP, BP.LN) broken well but it may not be "significant," the U.S. federal response commander said Monday. "It's not a huge leak but it is causing a formation of hydrates," Retired
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