FOCUS: Thai PTT E&P Braces For Report Findings On Montara Oil Spill
17th Jun 2010 08:42
By Oranan Paweewun OF DOW JONES NEWSWIRES BANGKOK (Dow Jones)--An oil rig fire and subsequent leak of thousands of barrels of crude oil into the sea that took months to cap may result in one of Thailand's biggest companies being fined by the Australian authorities, but it seems unlikely tha
Read moreBP Shares Up 7% In Early London Trade After Spill-Fund Deal
17th Jun 2010 08:41
By Selina Williams Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Shares in oil major BP PLC (BP.LN) traded up 7% in London early Thursday after the company said Wednesday it was suspending dividends and setting aside GBP20 billion to cover claims relating to its oil spill in the Gulf of Mexico.
Read moreLondon open: BP shares jump
17th Jun 2010 08:29
BP is leading London's blue chips higher in early dealings on Thursday following yesterday's meeting with the US president. 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 cover claims resulting from the oil spi
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
17th Jun 2010 08:17
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0717 GMT [Dow Jones] Seymour Pierce downgrades BP (BP.LN) to hold from buy. Notes BP has cancelled its 1Q dividend, will not
Read moreMARKET TALK: Seymour Pierce Downgrades BP To Hold From Buy
17th Jun 2010 08:17
0717 GMT [Dow Jones] Seymour Pierce downgrades BP (BP.LN) to hold from buy. Notes BP has cancelled its 1Q dividend, will not declare a dividend in respect of 2Q and 3Q, and will consider the resumption of dividend payments at the time of 4Q results in early 2011. Says given the market will have to w
Read moreLondon pre-open: Footsie to edge higher
17th Jun 2010 07:35
Footsie is expected to edge higher in early dealings, even as mainland European bourses slip back, with BP again in the spot light following yesterday's meeting with the US president. BP has cancelled dividends for the rest of the year and agreed to a demand from US president Obama to put $20bn in
Read moreBP cancels dividend, sets up $20bn fund
17th Jun 2010 06:59
BP shares have rallied 8% after the oil giant 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 cover claims resulting from the oil spill in the Gulf of Mexico. The UK company will pay $3bn into the escrow account in th
Read moreThursday newspaper round-up: BP, Mansion House speech, banks
17th Jun 2010 06:09
BP has suspended dividend payments for the rest of this year and moved to slash its capital expenditure bill after agreeing to finance a $20bn (£13.5bn) clean-up and compensation fund for the Gulf of Mexico oil spill, says the Telegraph. The decision, which comes after weeks of speculation over the
Read morePV Oil To Continue Supplying Crude To Dung Quat Refinery -Official
17th Jun 2010 05:55
HANOI (Dow Jones)--PV Oil, the trading arm of state-run Vietnam Oil and Gas Group, will sign a contract Thursday to continue supplying crude oil to the Dung Quat refinery, an official with the plant's operator said. Under the contract, PV Oil will continue to be the sole supplier of crude to the
Read moreGulf Of Mexico Inhabitants Push For Energy Bill In Congress
17th Jun 2010 02:29
WASHINGTON (AFP)--Close to 100 local officials, businessmen, fishermen and ordinary citizens from oil-stricken states on the Gulf of Mexico, went before Congress Wednesday to push for a new energy and climate change bill. "Americans don't want band-aid solutions to this crisis. They want compreh
Read morePRESS RELEASE: Statement from BP Chairman
17th Jun 2010 01:21
The following statement has been issued by BP Chairman Carl-Henric Svanberg: "I spoke clumsily this afternoon, and for that, I am very sorry. What I was trying to say -- that BP understands how deeply this affects the lives of people who live along the Gulf and depend on it for their livelihood
Read moreBP Oil Collection Rate Bounces Back After Tue Lightning Fire
17th Jun 2010 01:11
DOW JONES NEWSWIRES BP PLC's (BP, BP.LN) rate of oil collection bounced back Wednesday morning, after the previous morning's efforts were hampered by a lightning strike and a faulty sensor. The company said it collected 7,040 barrels of oil in the first 12 hours of Wednesday in the U.S. Gul
Read moreTNK-BP Loses Bid To Recover Interest On Excess Tariffs -Vedomosti
17th Jun 2010 01:02
DOW JONES NEWSWIRES BP PLC's (BP, BP.LN) joint venture in Russia, TNK-BP (TNBP.RS), lost a court battle with federal authorities over its claim of nearly $30 million in interest on overpaid customs duties, business daily Vedomosti reports Thursday. TNK-BP sued the Federal Customs Service in
Read more10th UPDATE: US Lawmakers Blast BP CEO At Congressional Hearing
17th Jun 2010 00:57
(Updates with details on blowout-preventer documents published Thursday by the committee.) By Siobhan Hughes, Tennille Tracy and Stephen Power Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. lawmakers on Thursday blasted BP PLC's (BP, BP.LN) chief executive at his first appearance be
Read moreBP's Oil-Collection Rate Rises, Still Short Of Estimated Total
17th Jun 2010 00:38
DOW JONES NEWSWIRES BP PLC (BP, BP.LN) Thurday night reported one of its highest yet rates of oil retrieval from a huge oil leak in the Gulf of Mexico. The company, which has been collecting and more recently flaring oil spewing from a broken deep-sea well, said that in the first 12 hours o
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