UPDATE: US House Panel Passes Oil-Spill Liability Bill
23rd Jun 2010 19:14
(Adds detail on the liability vote and on the committee's vote to issue subpoenas to BP America starting in the third paragraph.) By Brent Kendall Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--A U.S. House panel approved legislation Wednesday that would repeal a century-and-a-half-old la
Read moreBP WATCH: BP's US Shares Up Despite Snag In Oil Collection
23rd Jun 2010 19:07
By Donna Kardos Yesalavich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC's (BP) U.S. shares held their ground Wednesday despite the oil giant hitting a major snag in its efforts to capture oil spewing from the Macondo well in the Gulf of Mexico. U.S. Coast Guard Adm. Thad Allen sai
Read moreUS House Panel Passes Oil-Spill Liability Bill
23rd Jun 2010 18:47
By Brent Kendall Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--A U.S. House panel approved legislation Wednesday that would repeal a century-and-a-half-old law that Transocean Ltd. (RIG) has sought to use to limit its liability in the Gulf oil-spill disaster. The legislation also would
Read moreAT A GLANCE: BP Hits Snag; US Looks To New Drilling Moratorium
23rd Jun 2010 18:34
The News BP PLC's (BP, BP.LN) efforts to capture oil spewing from Macondo well in the U.S. Gulf of Mexico hit a major snag early Wednesday when an underwater robot collided with the containment cap, U.S. Coast Guard Adm. Thad Allen said. Also, U.S. Interior Secretary Ken Salazar told lawm
Read moreBP Temporarily Suspends LMRP Cap Containment Operations
23rd Jun 2010 18:19
LONDON (Dow Jones)--BP PLC (BP.LN), said Wednesday that a discharge of liquids was observed from a diverter valve on the drillship Discoverer Enterprise, which is on station at the MC252 wellsite, and said capture of oil and gas through the LMRP cap is therefore temporarily suspended until such time
Read moreAT A GLANCE: US Looks To Issue New Deepwater Drilling Moratorium
23rd Jun 2010 18:13
The News U.S. Interior Secretary Ken Salazar told lawmakers Wednesday that he would take a look at issuing a new, scaled-back moratorium on new deepwater oil and gas drilling, after a federal judge overturned the Obama administration's moratorium on Tuesday. "We will in the weeks and months
Read moreBP Containment Effort Hits Snag After Underwater Robot Collides With Cap
23rd Jun 2010 18:00
By Susan Daker Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--BP Plc's (BP, BP.LN) efforts to capture oil spewing from Macondo well in the U.S. Gulf of Mexico hit a major snag early Wednesday when an underwater robot collided with the containment cap, U.S. Coast Guard Adm. Thad Allen said.
Read moreSalazar: Adjustments Could Be Made To Drilling Moratorium
23rd Jun 2010 17:58
By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--After vowing to re-impose a moratorium on deepwater drilling, U.S. Interior Secretary Ken Salazar said Wednesday the Obama administration might be willing to make adjustments to the moratorium if it determines that certain typ
Read moreMARKET TALK: BP Hits Snag In Oil Spill Collection
23rd Jun 2010 17:31
12:31 (Dow Jones) BP shares holding their ground following news of snag with containment process, which dramatically reduces -- at least temporarily -- the amount of oil the company is able to collect from the leaking well on the floor of the Gulf of Mexico. News comes as responders face the prospec
Read moreInterior's Salazar: To Issue New Deepwater-Drilling Moratorium
23rd Jun 2010 17:07
By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. Interior Secretary Ken Salazar, who had imposed a six-month ban on deepwater drilling in the U.S. in response to a vast BP PLC (BP, BP.LN) oil spill in the Gulf of Mexico, told lawmakers on Wednesday that he would take a l
Read moreNY State Pension Fund To Sue BP Over Investment Losses
23rd Jun 2010 16:51
DOW JONES NEWSWIRES New York's state pension fund said it will sue oil giant BP PLC (BP, BP.LN) for its "disastrous" management of the oil well spill in the Gulf of Mexico, according to the state's comptroller. The New York State Common Retirement Fund, with $132.6 billion in assets, owned
Read moreLawmakers Weigh In On Ruling To Block Drilling Moratorium
23rd Jun 2010 16:49
By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. lawmakers are weighing in on the U.S. Interior Department's efforts to suspend deepwater drilling in the U.S. after a district court decided to block a six-month moratorium imposed by the administration earlier this year.
Read moreMARKET TALK: NY State Retirement Fund Sues BP Over Oil Spill
23rd Jun 2010 16:41
1536 GMT [Dow Jones] The $132.6B NY State Retirement Fund had over 19M BP shares at the time of the oil rig explosion. NYS Comptroller DiNapoli wants to lead a class action suit, has hired lawyers. "BP misled investors about its safety procedures and its ability to respond to events like the ongoing
Read morePRESS RELEASE: DiNAPOLI SUES BP OVER LOSSES FROM OIL SPILL DISASTER
23rd Jun 2010 16:26
CONTACT: Robert Whalen (212) 681-4840 FOR RELEASE: Immediately June 23, 2010 DiNAPOLI SUES BP OVER LOSSES FROM OIL SPILL DISASTER State Pension Fund Hires Cohen Milstein to Seek Lead Plaintiff Status New York State Comptroller Thomas P. DiNapoli, as trustee of the $
Read moreUS Interior Secretary: 'Substantive Reforms' Planned For Oil Agency
23rd Jun 2010 16:22
By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. Interior Secretary Ken Salazar will tell lawmakers on Wednesday that he has been working for more than a year on "substantive reforms" of the agency that oversees offshore drilling, defending his efforts as a BP PLC (BP, B
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