BP Looks To Raise More Funds From Banks - Newspaper
1st Jul 2010 07:54
LONDON (Dow Jones)--BP PLC (BP) is seeking more short-term funding from banks to deal with liabilities related to the Gulf of Mexico oil spill, the Financial Times reports Thursday. Citing people familiar with the talks, the paper said that BP had returned to banks for a new round of financing t
Read moreThursday's newspaper round-up: Bonus, BP, Tate & Lyle
1st Jul 2010 06:16
The EU says cash bonuses for bankers should be capped at 30 per cent of the total bonus, significantly tougher than the FSA's regime for British banks, which set the cap at 40 per cent for the most highly paid and 60 per cent for other senior staff, writes the Times. Top BP executives including Ton
Read moreTechnip: Gets BP Contracts Worth GBP100M In UK North Sea
1st Jul 2010 06:14
PARIS (Dow Jones)--French oil services company Technip SA (TEC.SA) said Thursday it has received from U.K. oil major BP PLC (BP) two contracts, with a combined total value of around GBP100 million. The first is a three-year diving repair and maintenance frame agreement contract, with two further
Read moreSinopec Establishes First Shale Gas Exploration Project Team
1st Jul 2010 05:08
SHANGHAI (Dow Jones)--China Petroleum & Chemical Corp. (SNP) has set up its first specialized project team to develop domestic shale gas resources, parent company China Petrochemical Corp., or Sinopec Group, said on its website. The team, under Sinopec's southern China exploration unit, aims to
Read moreMARKET TALK: Citi Points Out JVs That Could Turn Into Acquisitions
1st Jul 2010 02:59
0159 GMT [Dow Jones] Joint ventures could be the way to go for cashed up Aussie corporations looking to expand. With the appetite for acquisitions remaining subdued, JVs are temporary structures that can be dissolved in the event of an acquisition, Citi points out in a strategy note. Broker points o
Read moreMARKET TALK: RBS Keeps Buy On BHP Billiton
1st Jul 2010 02:18
0118 GMT [Dow Jones] RBS keeps Buy rating on BHP Billiton (BHP.AU), lowers price target slightly to A$47.63 from A$47.87 vs last down 2.2% at A$36.81. Says stock continues to offer compelling investment case as it's trading on a FY11 PER of 8x and 20% discount to RBS net present value estimate. "Glo
Read moreBP Sued For Burning Endangered Sea Turtles Alive
1st Jul 2010 01:18
NEW ORLEANS (AFP)--Animal welfare groups Wednesday sued BP PLC (BP) for burning endangered sea turtles and asked a federal court to stop the oil giant's "controlled burns" on the Gulf of Mexico spill. "It is horrifying that these innocent creatures whose habitat has already been devastated by th
Read more2nd UPDATE: Hurricane Delays 3rd BP Oil-Containment System
30th Jun 2010 22:31
(Adds throughout with fresh comments from the Coast Guard on effects of Hurricane Alex on oil spill clean-up and containment efforts.) By Isabel Ordonez Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--The U.S. Coast Guard said Wednesday that a third containment system, which had been expecte
Read moreADR Report: Shares Close Lower As Latin America Weighs
30th Jun 2010 22:29
By Victoria Finkle Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York closed lower on disappointing U.S. employment figures and Moody's review of Spain's credit ratings, despite an uptick in Chicago-area manufacturing activity and an encouraging European
Read moreUS HOT STOCKS: Apollo, Smith & Wesson Active In Late Trading
30th Jun 2010 22:09
U.S. stocks closed lower Wednesday, with the Dow Jones Industrial Average down 96 points at 9774, the Standard & Poor's 500 losing 1% to 1031 and the Nasdaq Composite declining 1.2% to 2109. Among the companies whose shares are actively trading in the after-hours session are Apollo Group Inc. (APOL)
Read more2nd UPDATE: Senate Panel Votes To Remove Cap On Spill Claims
30th Jun 2010 22:03
By Siobhan Hughes and Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--A U.S. Senate panel on Wednesday voted to remove a cap on damage claims paid by BP PLC (BP, BP.LN) for a Gulf of Mexico oil spill, as a Democratic lawmaker called for going further to punish BP for a continue
Read moreUPDATE: Dispersants Less Toxic Than Oil; More Study Needed-EPA
30th Jun 2010 21:21
(Updates with comments from an EPA official and additional details throughout) By Cassandra Sweet and Mark Long Of DOW JONES NEWSWIRES U.S. environmental regulators said Wednesday that none of eight oil dispersants it tested, including the one being used to break up the Gulf of Mexico oi
Read moreUPDATE: Dispersants Less Toxic Than Oil; More Study Needed-EPA
30th Jun 2010 21:20
(Updates with comments from an EPA official and additional details throughout) By Cassandra Sweet and Mark Long Of DOW JONES NEWSWIRES U.S. environmental regulators said Wednesday that none of eight oil dispersants it tested, including the one being used to break up the Gulf of Mexico oi
Read moreUPDATE: Hurricane Alex Delays 3rd BP Oil Containment Vessel
30th Jun 2010 21:13
(Adds details on containment operations and background.) By Isabel Ordonez Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--The U.S. Coast Guard said Wednesday a third containment system, which had been expected to increase, as of this week, the amount of oil being collected from a growing spil
Read moreBP Says It Is Restarting Production At Three Gulf Platforms
30th Jun 2010 20:38
HOUSTON (Dow Jones)--BP PLC (BP, BP.LN) said Wednesday it's redeploying workers to three platforms in the Gulf of Mexico that had shut down ahead of Hurricane Alex and that production at the facilities is restarting. BP, one of the largest oil and gas producers in the gulf of Mexico, had shut pr
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