BP Stumbles In Containment Effort As Flow-Rate Estimates Hiked
16th Jun 2010 01:05
By Susan Daker Of DOW JONES NEWSWIRES BP PLC (BP, BP.LN) stumbled Tuesday in its oil-collection efforts in the Gulf of Mexico as a team of government and independent scientists dramatically increased their estimate of how much oil is flowing from the damaged well a mile beneath the water's s
Read moreUS Lawmakers Welcome BP Oil Spill Fund
16th Jun 2010 00:56
WASHINGTON (AFP)--U.S. lawmakers on Wednesday welcomed BP PLC's (BP) agreement to create a $20 billion fund to pay claims from the Gulf of Mexico oil spill but vowed to keep holding the energy giant's feet to the fire. President Barack Obama's Democratic allies cheered the news as a solid step t
Read moreUPDATE: US Government Opposes Attempt To Stop Drilling Moratorium
16th Jun 2010 00:34
(Adds detail that additional companies have joined the legal proceedings in sixth paragraph.) By Mark H. Anderson and Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--The U.S. Justice Department on Wednesday asked a federal judge to reject an attempt by a deepwater oil-explo
Read moreFederal Government Opposes Attempt To Stop Drilling Moratorium
16th Jun 2010 00:16
By Mark H. Anderson and Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--The U.S. Justice Department on Wednesday asked a federal judge to reject an attempt by a deepwater oil-exploration company to strike down a temporary moratorium on deepwater exploration activities. Horn
Read moreAT A GLANCE: BP Agrees To $20B Claims Fund In Obama Meeting
16th Jun 2010 00:02
THE NEWS BP PLC (BP, BP.LN) said it won't issue further dividends this year and agreed to put $20 billion in an independently administered oil-spill escrow fund to help pay for claims as a result of the Gulf oil disaster. BP announced the moves after Chairman Carl-Henric Svanberg, Chief Exe
Read moreCORRECT:BP:No Estimate On When Q4000 Containment Ship Will Start Working
15th Jun 2010 23:55
("BP: No Estimate On When Q4000 Containment Ship Will Start Working," published at 18:28 EDT, misstated the first name of a BP spokesman. The correct version follows.) HOUSTON (Dow Jones)--BP PLC (BP, BP.LN) said Tuesday that the Q4000 hasn't begun collecting oil from the broken Macondo well in
Read moreUPDATE: Fitch Increases Chances Of Cutting Anadarko To Junk
15th Jun 2010 23:50
(Updates with Transocean outlook cut, Halliburton rating affirmation, starting in sixth paragraph.) DOW JONES NEWSWIRES Fitch Ratings became the last of the three major credit raters to cut its outlook on Anadarko Petroleum Corp. (APC) to negative because of increasing costs from the massiv
Read moreObama To Outline Long-Term Plan To Respond To Oil Spill -Official
15th Jun 2010 23:47
By Jared A. Favole Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--President Barack Obama on Tuesday will use his debut speech from the Oval Office to outline a long-term plan to blunt the economic and environmental damages of an unprecedented oil catastrophe that has captivated the public an
Read moreCORRECT: BP Resumes Containment Operation After Brief Stoppage
15th Jun 2010 23:41
("3rd UPDATE: BP Resumes Containment Operation After Brief Stoppage," published at 6:13 p.m. EDT, misstated the time when the containment operation resumed. The corrected version follows.) By Susan Daker Of DOW JONES NEWSWIRES BP PLC (BP, BP.LN) on Tuesday shut down its oil containment
Read moreUS Senate Defeats Sen Sanders' Attempt To End Oil Co Tax Breaks
15th Jun 2010 23:37
By Martin Vaughan and Corey Boles Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. Sen. Bernie Sanders (I., Vt.) was defeated Tuesday in an attempt to add language to the Senate's jobless-benefits bill to repeal $35 billion worth of tax breaks for oil and natural gas producers. The la
Read moreFitch Increases Likelihood Of Cutting Anadarko To Junk
15th Jun 2010 23:14
DOW JONES NEWSWIRES Fitch Ratings became the last of the three major credit raters to cut its outlook on Anadarko Petroleum Corp. (APC) to negative because of increasing costs from the massive oil spill in the Gulf of Mexico. Standards & Poor's Ratings Services lowered its outlook last week
Read moreUPDATE:Oil Chiefs Back Away From BP; Democrats Say Cos. Unprepared
15th Jun 2010 23:09
(Adds reaction from oil-company executives; new details on scope of leak.) By Siobhan Hughes and Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Oil-company executives distanced themselves from BP PLC (BP, BP.LN) at a Capitol Hill hearing on Tuesday amid a threat that the
Read moreAlaska Senator To Propose Bill Creating Oil-Spill Account
15th Jun 2010 23:00
By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Sen. Mark Begich (D., Alaska) plans to introduce a bill Thursday that would create an escrow account into which BP PLC (BP, BP.LN)and companies involved in future oil spills will deposit funds to pay for clean-up efforts and da
Read moreCORRECT: Oil Chiefs Back Away From BP; Democrats Say Cos Unprepared
15th Jun 2010 22:57
("Oil Chiefs Back Away From BP, published at 4:05 p.m. EDT, misstated the Republican who called on Lamar McKay to resign in the 14th paragraph. A corrected version follows.) By Siobhan Hughes and Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Oil-company executives dista
Read moreAT A GLANCE: Oil Execs Testify; US Govt Raises Estimate Of Oil Flowing Into Gulf
15th Jun 2010 22:48
THE NEWS: Executives from BP PLC (BP, BP.LN) and other major oil companies testified before Congress Tuesday as oil continues to gush into the Gulf of Mexico from BP's damaged well. Executives from Exxon Mobil Corp. (XOM), ConocoPhillips (COP), Royal Dutch Shell PLC (RDSA) and Chevron Corp.
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