MARKET TALK: BP Down After Judge Strikes Down Drilling Ban
22nd Jun 2010 20:23
3:23 (Dow Jones) Shares of BP down 2.1% at $29.68 following news that a federal judge has struck down the Obama administration's ban on deepwater drilling. BP declined to comment on the judge's actions. The company's stock was already down Tuesday in both the US and London as investors continue to f
Read moreMARKET TALK: BP Down After Judge Strikes Down Drilling Ban
22nd Jun 2010 20:16
[Dow Jones] Shares of BP PLC (BP, BP.LN) were trading down 65 cents, or 2.14%, at $29.68 Tuesday afternoon, following news that a federal judge has struck down the U.S. government's ban on deepwater drilling. BP declined to comment on the judge's actions. The company's stock was already down Tuesday
Read moreAT A GLANCE: Judge Rules Against Deepwater Drilling Moratorium
22nd Jun 2010 20:11
THE NEWS A federal judge in Louisiana on Tuesday ruled against the Obama administration's temporary ban on deepwater offshore drilling, handing a major victory to the oil industry and delivering a stinging rebuke to the White House. U.S. District Judge Martin L.C. Feldman said the Obama adm
Read moreMARKET TALK: Market Unhappy With Lifting Of Drilling Ban, Focus On Uncertainties
22nd Jun 2010 20:10
[Dow Jones] The market is reacting negatively to a federal judge's decision in Louisiana to lift a six-month moratorium drilling in the Gulf of Mexico because although companies may be able to resume drilling soon it is still uncertain under what rules they will be operating, says Fadel Gheit, analy
Read moreBP To Give Macondo Oil Revenue To Wildlife Group, Not New Fund
22nd Jun 2010 19:51
DOW JONES NEWSWIRES BP PLC (BP, BP.LN) said Tuesday it would donate its net revenue gleaned from oil collected at its broken well in the Gulf of Mexico to a pre-existing wildlife foundation, changing tack from two weeks ago. Earlier this month, BP said it would put money from the sales of o
Read moreBP Shares Slump In US, London On Continued Liability Worries
22nd Jun 2010 19:23
By Donna Kardos Yesalavich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC's (BP) shares fell in the U.S. and London Tuesday as investors continued to worry about the extent of the oil giant's potential liabilities for the Gulf of Mexico oil spill. Its American Despositary Shares hel
Read moreFederal Judge In Louisiana Rules Against Offshore Drilling Moratorium
22nd Jun 2010 19:19
By Angel Gonzalez and Isabel Ordonez Of DOW JONES NEWSWIRES A federal judge in Louisiana on Tuesday ruled against the Obama Administration's temporary ban on deepwater offshore drilling--opening the door for resumption of oil and gas exploration in an area that's still fighting a massive oi
Read moreBrazil Petrobras Sees Tighter Domestic Drilling Rules On Horizon
22nd Jun 2010 19:18
By Jeff Fick Of DOW JONES NEWSWIRES RIO DE JANEIRO (Dow Jones)--Brazilian state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, expects fallout from the U.S. Gulf of Mexico drilling disaster to reach local shores, with local regulators tightening local regulations. "We
Read moreMARKET TALK: Gimme Credit Cuts Anadarko To 'Deteriorating'
22nd Jun 2010 19:15
1815 GMT [Dow Jones] Independent corporate bond researcher Gimme Credit has downgraded its credit score on Anadarko Petroleum Corp. (APC) to 'deteriorating' from 'stable'. Phil Adams, senior investment grade analyst at the firm, wrote in a note, "Although we think APC has a strong case in its disput
Read moreWhite House To Immediately Appeal Ruling Against Offshore Drilling Ban
22nd Jun 2010 19:12
By Jared A. Favole Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Press Secretary Robert Gibbs said Tuesday the White House will "immediately" appeal a ruling blocking U.S. President Barack Obama's ban on deepwater offshore drilling. Gibbs, at a White House press briefing, said Obama str
Read moreMARKET TALK: Oil Companies Down, Despite Moratorium Ruling
22nd Jun 2010 19:03
2:03 (Dow Jones) News is breaking that a judge in Louisiana overruled the Obama administration's deepwater-drilling moratorium, but it's not doing much for the likely beneficiaries or the overall market. BP, Halliburton (HAL), Diamond Offshore (DO), Noble (NE) are all still down on the day, although
Read moreMARKET TALK: Storm Poses Threat To Gulf Cleanup--Forecaster
22nd Jun 2010 18:42
[Dow Jones] Possible first named storm of hurricane season poses "serious threat" to US Gulf Of Mexico during first half of next week, writes Jim Rouiller, a forecaster with Planalytics Inc. Storm expected to intensify to Tropical Storm Alex and could affect cleanup efforts of massive leak from BP P
Read moreUS Seeks Use Of Other Oil Companies' Assets To Contain Spill
22nd Jun 2010 18:39
By Susan Daker Of DOW JONES NEWSWIRES HOUSTON (DOW JONES)--Government officials are in talks with other energy companies about using some of their assets to help contain the oil spewing from BP PLC's (BP, BP.LN) Macondo well, U.S. Coast Guard Adm. Thad Allen said Tuesday. Secretary of E
Read moreUPDATE: India's Reliance To Pay $1.35B For Stake In Pioneer's Texas Field-Source
22nd Jun 2010 18:20
(Adds reaction from Reliance and Pioneer) By Angel Gonzalez and Jason Womack Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--India's Reliance Industries Ltd. (500325.BY) agreed to buy 45% of Pioneer Natural Resources Co.'s (PXD) acreage in the Eagle Ford natural-gas shale for $1.35 billion,
Read moreUS HOT STOCKS: Walgreen, Jefferies, Patriot Coal, Sonic
22nd Jun 2010 18:18
U.S. stocks were mixed Tuesday as the Dow Jones Industrial Average rose 2 points to 10445, the S&P 500 slipped 1 point to 1112 and the Nasdaq Composite added 10 points to 2299. Among the companies whose shares were actively trading in the session are Walgreen Co. (WAG), Jefferies Group Inc. (JEF) an
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