2nd UPDATE: BP Resumes Collecting Oil At Vessel On Spill Site
19th Jun 2010 00:44
(Updates with new details about amounts of oil and gas captured from the leaking well as well as amount of claims paid by BP.) HOUSTON (Dow Jones)--BP Plc (BP, BP.LN) said that 8,480 barrels of oil were recovered and 16.9 million cubic feet of natural gas were flared between midnight and noon o
Read moreUPDATE: Anadarko Blames BP's Action For Oil Spill; Cut To Junk
18th Jun 2010 23:37
(Adds details including Moody's downgrade, BP comment, stock quotes) DOW JONES NEWSWIRES Anadarko Petroleum Corp. (APC) late Friday called the oil spill in the Gulf of Mexico "preventable and the direct result of BP's reckless decisions and actions," allegations that BP PLC (BP, BP.LN) imme
Read morePRESS RELEASE: BP Responds To Anadarko Petroluem Statement
18th Jun 2010 23:27
BP Emphasizes that Disagreement With Other Parties Will Not Diminish Its Promise to Clean Up the Spill and Pay Legitimate Claims. Today BP reiterated its pledge to clean up the oil and gas spill in the Gulf of Mexico and to pay all legitimate claims arising from the spill, even though another pa
Read moreBP's Washington Refinery Normal After Thursday Snag - Source
18th Jun 2010 23:12
NEW YORK (Dow Jones)--Operations at BP's Cherry Point refinery in Washington state are normal following a brief upset on Thursday, a source familiar with operations at the plant said Friday. The nature of the upset was unclear, but operations at the 225,000 barrels-a-day plant were not affected,
Read moreAT A GLANCE: BP Chairman Expects Co To Survive Oil-Spill Crisis
18th Jun 2010 23:07
THE NEWS BP PLC's (BP, BP.LN) chairman said Friday that he expects the company to survive its current crisis. Meanwhile, BP Chief Executive Tony Hayward is turning over day-to-day operations of the Gulf of Mexico oil spill to a managing director. Meanwhile, some 25,000 barrels of oil were
Read moreAnadarko Petroleum Blames BP's Reckless Actions For Oil Spill
18th Jun 2010 22:54
DOW JONES NEWSWIRES Anadarko Petroleum Corp. (APC) on Friday called the oil spill in the Gulf of Mexico "preventable and the direct result of BP's reckless decisions and actions." BP PLC (BP, BP.LN) operated the Deepwater Horizon well that exploded in April, resulting in the deaths of 11 pe
Read moreInterior Dept Strengthens Blowout-Prevention Requirements
18th Jun 2010 22:10
By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--The Interior Dept. is forcing oil and gas operators to outline measures they would take in the event of potential blowouts, representing another attempt by the Obama administration to strengthen drilling practices in the wake o
Read moreBP WATCH: BP Debt Downgraded Again; US Shares Up
18th Jun 2010 21:30
By Donna Kardos Yesalavich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC's (BP) U.S. shares edged higher Friday, capping an eventful week for the oil giant that investors felt lifted some of the uncertainty that had been weighing on the shares. BP's American depositary shares rose
Read more2nd UPDATE: BP's CEO To Hand Off Day-To-Day Gulf Operations
18th Jun 2010 20:59
(Updates with comment from a BP spokeswoman) LONDON (Dow Jones)--BP PLC's (BP, BP.LN) chairman said Friday that Chief Executive Tony Hayward is turning over day-to-day responsibility for operations involving the Gulf of Mexico oil spill to a BP managing director. "He is now handing over the
Read moreMARKET TALK: More Uncle Sam Means Less Corporate Profits
18th Jun 2010 20:48
3:48 (Dow Jones) Ticonderoga strategist John Stolzfus notes, broadly, BP troubles "remind us that government by necessity is becoming an ever bigger presence in the markets - not only in the energy sector but in financials, food processing, health care and sundry other areas as the dark side or albe
Read moreOPTIONS REPORT: Traders Bet On Transocean, Continental
18th Jun 2010 20:30
By Brendan Conway Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Traders made bets that no big negatives would afflict Transocean Ltd. shares in the few hours before June options' Friday expiry, while others signaled hope that Continental Airlines Inc.'s stock will stay aloft. Shares in Tr
Read moreBIG PICTURE: Another Look At Oil Spill's Spillover Effects
18th Jun 2010 19:42
By Kathleen Madigan A DOW JONES NEWSWIRES COLUMN NEW YORK (Dow Jones)--Almost two months after the lethal explosion on the Deepwater Horizon oil rig, economists are still trying to assess the impact on the U.S. recovery. The oil spill itself isn't expected to hurt growth much. The bigger
Read moreAT A GLANCE: BP Chairman Expects Co To Survive Oil-Spill Crisis
18th Jun 2010 19:19
THE NEWS BP PLC's (BP, BP.LN) chairman said he expects the company to survive its current crisis. Meanwhile, BP Chief Executive Tony Hayward is turning over day-to-day operations of the Gulf of Mexico oil spill to a managing director. Some 25,000 barrels of oil were captured Thursday at BP
Read more$20B BP Escrow Fund May Not Be Enough -Louisiana Treasurer
18th Jun 2010 19:13
By Kelly Nolan Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC's (BP, BP.LN) $20 billion escrow fund for the Gulf Coast oil spill "is a good start," but may not be enough to compensate the individuals and businesses that may be affected, Louisiana Treasurer John Kennedy said. "I supp
Read more2nd UPDATE: BP Oil Spill Capture Rate Rises To 25,000 Barrels
18th Jun 2010 19:01
(Updates to add background, details from BP press conference.) By Angel Gonzalez Of DOW JONES NEWSWIRES BP Plc (BP, BP.LN) captured about 25,000 barrels of oil Thursday from the damaged well on the floor of the Gulf of Mexico, the highest amount since installing a containment cap two wee
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