MARKET TALK: BP Still Hasn't Plugged The Hole
21st Jun 2010 10:18
0918 GMT [Dow Jones] Following last week's developments, focus will now revert back to BP's (BP.LN) effort to contain the spill in the Gulf of Mexico, says Dolmen Securities. It notes work continues to progress ahead of schedule on the two relief wells which offer the best chance of a solution to th
Read moreOil Companies Expect Drilling Moratorium Maybe Lifted-Report
21st Jun 2010 09:43
LONDON (Dow Jones)--Oil companies are keeping their rigs on standby in the Gulf of Mexico in expectation of at least a partial lifting of the drilling moratorium on new deepwater drilling ahead of its scheduled ending in November, the Financial Times reports Monday. Marvin Odum, president of She
Read moreUPDATE: BP Says Gulf Oil Spill Response Costs Up To $2 Billion
21st Jun 2010 08:51
By Jeffrey Sparshott Of DOW JONES NEWSWIRES LONDON (Dow Jones)--BP PLC (BP) shares fell as much as 4.2% Monday morning amid continuing uncertainty about the long-term financial and environmental damages from the Gulf of Mexico oil spill. At 0733 GMT, BP's shares were down 12 pence, or 3.
Read moreLondon open: Footsie surges after China's currency move
21st Jun 2010 08:51
News over the weekend that China will relax its currency's peg to the dollar has sparked a rush into mining stocks. It's hoped the decision will boost reinvigorate the Chinese economy. Far East markets have already responded, with Japan up 2.5% and Hong Kong nearly 3%. All of the top ten risers s
Read moreMARKET TALK: Look To Dividend-rich UK Sectors - UBS
21st Jun 2010 08:06
0706 GMT [Dow Jones] As earnings and cash flows for UK companies' continue to grow at above average levels, UBS recommends buying dividend-rich sectors, companies and the FTSE 100 dividend futures. Sees significant upside for the FTSE 100 dividends versus the futures, estimates dividends that are 26
Read moreLondon pre-open: Rally to resume
21st Jun 2010 07:35
Investors will need to hold on to their hats Monday as news over the weekend that China will relax the yuan's peg to the dollar is set to spark a flurry of buy orders early on. Far East markets have already responded, with Japan up 2.5% and Hong Kong nearly 3%. It's hoped the decision will boost re
Read moreBP takes high ground with Anadarko
21st Jun 2010 07:30
Beleaguered oil giant BP said the latest bout of finger pointing with its partners on the ill fated Macondo oil well in the Gulf of Mexico will not distract it from fulfilling its promise to clean up the spill and pay legitimate claims. Anadarko Petroleum, which owns a 25% stake in the leaking Maco
Read moreBP: Gulf Oil Spill Response Costs Up To $2 Billion
21st Jun 2010 07:18
LONDON (Dow Jones)--BP PLC (BP) Monday said costs related to its Gulf of Mexico oil spill response had reached $2 billion as it continues work to contain the leak and to pay claims for damages. "It is too early to quantify other potential costs and liabilities associated with the incident," the
Read moreMonday newspaper round-up: Budget, Prudential, BP
21st Jun 2010 06:33
Official forecasts will show George Osborne's emergency Budget hitting growth and costing jobs in the short term, government sources said last night, but the austerity measures will also create a brighter climate for the economy by the end of the parliament, the FT reports. In a tough Budget that
Read moreUPDATE: White House Bills BP $51.4M For Gulf Clean-Up Work
21st Jun 2010 00:14
(Adds BP's oil collection rate for first half of Monday.) DOW JONES NEWSWIRES President Barack Obama's administration sent BP PLC (BP, BP.LN) its biggest invoice yet--$51.4 million--for oil clean-up efforts in the Gulf of Mexico. The oil giant already has agreed to a $20 billion escrow
Read moreObama Administration Bills BP $51.4M For Gulf Clean-Up Work
21st Jun 2010 00:01
DOW JONES NEWSWIRES President Barack Obama's administration sent BP PLC (BP, BP.LN) its biggest invoice yet--$51.4 million--for oil clean-up efforts in the Gulf of Mexico. The oil giant already has agreed to a $20 billion escrow fund for clean-up and other expenses related to the massive oi
Read moreBP CEO Plans Trip To Meet Russian President - Report
20th Jun 2010 21:46
DOW JONES NEWSWIRES BP PLC's (BP, BP.LN) Chief Executive is planning a visit to Russia to meet with President Dmitry Medvedev and offer reassurances about his company's future, The Financial Times reports on its website Sunday. According to the report, Tony Hayward plans to meet with the Russia
Read moreUPDATE: US Rep Markey:BP's Worst-Case Scenario Estimated 100,000 B/D Spill
20th Jun 2010 20:38
(Updates with BP comment) By Angel Gonzalez Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--U.S. Representative Ed Markey (D., Mass.) said Sunday that BP Plc's (BP) worst-case scenario for the Deepwater Horizon oil spill estimated a potential leak of 100,000 barrels of oil a day. The sce
Read moreUS Rep Markey:BP's Worst-Case Scenario Estimated 100,000 B/D Spill
20th Jun 2010 18:12
By Angel Gonzalez Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--U.S. Representative Ed Markey (D, Ma.) said Sunday that BP Plc's (BP) worst-case scenario for the Deepwater Horizon oil spill estimated a potential leak of 100,000 barrels of oil a day. The scenario, described in a two-page BP
Read moreCORRECT: BP: Recovered 21,040 Barrels Of Oil At Spill Site On Saturday
20th Jun 2010 18:06
("BP: Recovered 21,040 Barrels Of Oil At Spill Site On Saturday," at 10:52 a.m. EMT, misstated the amount of natural gas flared in the first paragraph. The correct version follows:) By Angel Gonzalez Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--BP PLC (BP, BP.LN) said Sunday it captured a
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