London close: Seventh day of gains for Footsie
17th Jun 2010 16:46
London's blue chips rose for the seventh day running as BP took some comfort from the $20bn deal agreed with US president Obama. Banks also rallied on the new plans for City regulation set out yesterday. This afternoon, the coalition government also axed 12 projects costing £2bn, suspended another
Read moreBrazil ANP: May Adjust Oil Industry Regulations 'If Necessary'
17th Jun 2010 16:30
By Kejal Vyas Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Brazil's oil industry regulators could alter laws "if necessary" as they take part in an investigation into the well blowout and explosion that sank the Deepwater Horizion rig in the Gulf of Mexico, a top official said Thursday.
Read moreAT A GLANCE: BP CEO Tony Hayward Faces US Lawmakers
17th Jun 2010 16:01
THE NEWS BP PLC (BP, BP.LN) Chief Executive Officer Tony Hayward was grilled by U.S. lawmakers Thursday on the Gulf of Mexico oil spill that threatens four U.S. states. BP, responding pressure from U.S. authorities, agreed Wednesday to put $20 billion in a fund to compensate victims and sai
Read moreUS Rep Waxman Blasts BP CEO As Congressional Hearing Begins
17th Jun 2010 15:35
By Siobhan Hughes and Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. House Energy and Commerce Committee Chairman Henry Waxman (D, Calif.) on Thursday blasted BP PLC's (BP, BP.LN) chief executive at his first appearance before the panel, saying congressional investigator
Read moreMARKET TALK: Rosneft -5.8%; Market Fears Export Hike, BP Sale
17th Jun 2010 15:32
1432 GMT [Dow Jones] Rosneft (ROSN.RS) trades -5.8% at RUB205.69 in Moscow, as investors fear a possible stake sale by BP (BP) as well as reinstated export duties for oil that the state-controlled Russian giant extracts in East Siberia. The country's economy ministry Thursday said it has proposed th
Read moreAdm. Allen: Could Capture 28,000 B/D Of Oil By Early Next Week
17th Jun 2010 15:30
By Angel Gonzalez Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--A second vessel is allowing BP PLC (BP) to contain a bigger portion of the Deepwater Horizon oil spill, even as a parallel bid to permanently plug the well moves ahead of schedule, the leader of the U.S. effort to control the spi
Read moreMARKET TALK: Catastrophe An Effective Way To Prompt Change
17th Jun 2010 15:23
10:23 (Dow Jones) The Gulf oil spill may actually prove a "godsend" for President Obama, Jeremy Warner writes at The Daily Telegraph. He offers two reasons Obama should be "thanking BP, not demonizing it." One is that it's better this catastrophe happened under "big and solvent" BP as opposed to a s
Read moreRefinery Status: Valero McKee Plant Reports FCCU Upset
17th Jun 2010 14:58
DOW JONES NEWSWIRES The following table lists unplanned and planned production outages at U.S. refineries as reported by Dow Jones Newswires. The information is compiled from both official and unofficial refining sources and doesn't purport to be a comprehensive list. Valero Energy Corp.'s
Read moreRefinery Status: Valero McKee Plant Reports FCCU -2-
17th Jun 2010 14:58
restarted May 5-6, a filing said. Chevron Pascagoula 330.0 Pre-commercial heavy oil 2010 Miss. conversion project delayed from 2008 to 2010 due to economic factors. Work
Read moreFTSE 100 movers: BP heads higher
17th Jun 2010 14:56
BP and banks are pushing Footsie higher today. Clarity on the issue of BP's dividends and the staggered nature of payments into Escrow has reassured investors. BP has cancelled dividends for the rest of the year and agreed to a demand from US president Obama to put $20bn in an escrow account to c
Read moreLondon afternoon: Stocks drift off highest levels
17th Jun 2010 14:12
Leading shares saw their gains trimmed over the lunch time session, despite expectations of a firm start on Wall Street. BP and the banks continue to lead the market higher. Under fire oil giant BP remains the top performer after yesterday's meeting between BP officials and the US president. BP h
Read moreAL'S EMPORIUM: Instant Fame For Professor: Just Add Oil
17th Jun 2010 14:00
By Al Lewis A DOW JONES NEWSWIRES COLUMN Steve Wereley, 43, was just another mechanical engineering guy until last month when he got a call from NPR. The Purdue University professor had co-authored a book called "Particle Image Velocimetry" in 2007, describing ways to calculate flow rate
Read moreBP rallies as Hayward says sorry
17th Jun 2010 13:53
Tony Hayward, BP's chief executive, will say he is deeply sorry for the Gulf of Mexico catastrophe when he faces hostile US politicians in an appearance before Congress this afternoon. A House of Representatives committee will question Hayward over the circumstances leading up to the explosion on t
Read moreFairfield Energy To Up North Sea Oil Production In $500M IPO
17th Jun 2010 13:50
By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. oil and gas company Fairfield Energy PLC on Thursday said it was aiming to raise up to $500 million on the London Stock Exchange, as part of a plan to increase production at its North Sea oil fields. Chief Executive Office
Read moreFairfield Energy To Up North Sea Oil Production With $500M IPO
17th Jun 2010 13:15
By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. oil and gas company Fairfield Energy PLC Thursday said it aims to raise up to $500 million on the London Stock Exchange as part of a plan to increase production at its North Sea oil fields. Fairfield Chief Executive Office
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