UPDATE: Forties To Tighten Further On More Cargo Deferrals
16th Jul 2010 16:12
(Adds new deferrals of August cargoes.) By Sherry Su Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Supply of North Sea Forties crude is expected to tighten further as more deferrals of cargoes occurred due to unstable production, traders said Friday. Nexen Inc.'s (NXY) two cargoes for J
Read moreObama: BP Cap is 'Good News,' But Work to Stop Leak 'Not Done'
16th Jul 2010 15:44
By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones) -- U.S. President Barack Obama said Friday a new cap that has stopped oil flowing into the Gulf of Mexico from BP PLC's (BP, BP.LN) broken well is "good news," but warned the public not to "get ahead of ourselves" and believe th
Read moreUPDATE: BP Feels Good As Pressure Steadily Builds On Well During Test
16th Jul 2010 15:43
(Updates to add remote controlled vehicles seeking breaches and ordering of putting equipment in place) By Susan Daker Of DOW JONES NEWSWIRES HOUSTON(Dow Jones)--BP PLC's (BP, BP.LN) well integrity test survived the night as pressures steadily rose showing that a newly placed cap might
Read moreForties To Tighten Further As More Cargo Deferrals Occur
16th Jul 2010 15:42
By Sherry Su Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Supply of North Sea Forties crude is expected to tighten further as more deferrals of cargoes occurred due to unstable production, traders said Friday. Nexen Inc.'s (NXY) two cargoes for July loading have been deferred to August. Th
Read moreFTSE 100 movers: BP rise tempers overall decline
16th Jul 2010 15:00
Footsie remains lower despite good news from BP. BP appears to have succeeded in stopping the flow of oil pouring into the Gulf of Mexico for the first time in three months. The shutdown is part of an "integrity test" to see if the leaking wellhead can finally be contained. The test started last ni
Read more3rd UPDATE: Angola Plans To Export 48 Crude Cargoes In Sept
16th Jul 2010 14:59
(Updates Girassol September cargoes.) By Sherry Su Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Angola plans to export 48 cargoes of crude oil for September loading, traders who had seen provisional loading programs said Friday. The total volume of September cargoes will be 1.52 millio
Read moreLondon afternoon: US drags Footsie lower
16th Jul 2010 14:57
Footsie has dipped into the red following a poor start on Wall Street on the back of poorly received company updates as the earnings season picks up pace. Results from banks Citigroup and Bank of America and the conglomerate GE have been poorly received, sending US shares plunging. Here, BP is hi
Read moreUPDATE: Companies Fined GPB9.5Mln For UK Buncefield Disaster
16th Jul 2010 14:53
(Adds detail, comment from safety regulator, Total and solicitor for families in Hemel Hempstead.) By Lananh Nguyen Of Dow Jones Newswires LONDON (Dow Jones)--Five companies Friday were fined a total of GBP9.5 million for their involvement in a massive fire and explosion at the Buncefiel
Read moreBP Feels Good As Pressure Steadily Builds On Well During Test
16th Jul 2010 14:21
By Susan Daker Of DOW JONES NEWSWIRES HOUSTON(Dow Jones)--BP PLC's (BP, BP.LN) well integrity test survived the night as pressures steadily rose showing that a newly placed cap might have the ability to complete shut-in an overflowing well in the Gulf of Mexico, a company vice president sai
Read moreMARKET TALK: Keep BP's Gulf Well News In Perspective
16th Jul 2010 14:18
9:18 (Dow Jones) News that oil has finally stopped flowing into the Gulf needs to be put in perspective, writes Chad Brand, founder and president of Peridot Capital. "This is a test, this is only a test," he says, while disclosing his firm has a long position in BP. "The well has been capped for onl
Read moreUPDATE: iTraxx Indexes Edge Tighter, BP CDS Tighten
16th Jul 2010 13:52
(Re-writes, updates prices, adds further information, comment.) LONDON (Dow Jones)--Spreads on European corporate credit default swap indexes were slightly tighter Friday, and traded in a narrow range as U.S. earnings announcements held the credit market's attention but failed to move spreads s
Read moreBEFORE THE BELL: US Stock Futures Turn Lower On Profit Concerns
16th Jul 2010 13:20
By Steve Goldstein U.S. stock futures fell into negative territory Friday as relief over Goldman Sachs liabilities was met by disappointing revenue reports from banking giants Citigroup and Bank of America as well as concerns over the profit growth at Internet bellwether Google. Reversing a
Read moreBEFORE THE BELL -2: US HOT STOCKS TO WATCH
16th Jul 2010 12:42
Among the companies whose shares are expected to actively trade in Friday's session are Goldman Sachs Group Inc. (GS), Bank of America Corp.'s (BAC) and Google Inc. (GOOG). Goldman Sachs shares climbed 4.7% to $152 in premarket trading, adding to a 4.4% gain before the end of Thursday's trading
Read more2nd UPDATE: Angola Plans To Export 45 Crude Cargoes In Sept
16th Jul 2010 12:35
(Updates Girassol cargoes and adds quotes from BP.) By Sherry Su Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Angola plans to export at least 45 cargoes of crude oil for September loading, traders who had seen provisional loading programs said Friday. The total volume of September carg
Read moreMARKET TALK: BP Not Out Of The Woods Yet -S&P Equity Research
16th Jul 2010 12:33
1133 GMT [Dow Jones] While BP (BP.LN) is a fundamentally strong company that can handle the effect of the oil leak in the Gulf of Mexico, it is not out of the woods yet, says S&P Equity Research. It notes news that BP has temporarily stopped the oil flow from the Gulf of Mexico well, but says the we
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