PRESS RELEASE: Fitch Affirms Halliburton's IDR at 'A-'; Outlook Stable
15th Jun 2010 22:47
The following is a press release from Fitch Ratings: Fitch Ratings-Chicago-15 June 2010: Fitch Ratings has affirmed Halliburton Company's (Halliburton; NYSE: HAL) Issuer Default Rating (IDR) at 'A-' despite potential exposure to the Macondo oil spill in the U.S. Gulf of Mexico. Fitch has af
Read moreTrans-Alaska Pipeline To Shut 2 Days For Maintenance
15th Jun 2010 22:44
SAN FRANCISCO (Dow Jones)--The Trans-Alaska Pipeline will shut for two days this weekend for scheduled maintenance, the pipeline operator said Tuesday. The pipeline will be shut from Saturday morning through Sunday, with maintenance expected to last up to 36 hours, Alyeska Pipeline Service Co. s
Read moreFederal Officials Don't Yet Know Health Impact Of Oil Spill
15th Jun 2010 22:38
By Shayndi Raice Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Federal health officials Tuesday said they don't yet know the extent of the health impact the Gulf of Mexico oil spill will have on workers who have come into contact with oil or the general population living along the Gulf Coas
Read moreBofA Said To Limit Duration Of Oil Trades With BP -Reuters
15th Jun 2010 22:37
DOW JONES NEWSWIRES Bank of America Corp. (BAC) has told its traders not to enter into oil trades with BP PLC (BP, BP.LN) that go beyond June 2011, Reuters reports Tuesday, citing a market source familiar with the bank's order. The directive to traders came from a high-level executive and w
Read moreUS Govt Raises Estimate On BP Spill 35,000 To 60,000 Bbls/Day
15th Jun 2010 22:35
DOW JONES NEWSWIRES A group of federal and independent scientists raised the estimate on the flow rate of oil spilling out from a broken pipe, saying between 35,000 and 60,000 barrels a day is likely flowing from the broken Gulf of Mexico well. The higher estimate is significantly above BP
Read moreMichael Bromwich Named Head Of Minerals Management Service -Reports
15th Jun 2010 22:27
DOW JONES NEWSWIRES U.S. President Barack Obama on Tuesday picked former Justice Department inspector general Michael Bromwich to lead the Minerals Management Service, according to reports from Fox Business Network and the Washington Post. Bromwich is expected to oversee a planned reorganizatio
Read moreADR REPORT: Shares Climb As European Worries Ease
15th Jun 2010 22:14
By Victoria Finkle Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York closed higher Tuesday, capping a daylong rally fueled by more confidence in Europe's economy and a report of strong computer sales. The Bank of New York index of ADRs rose 3% to 12
Read more2nd UPDATE: BP Temporarily Halts Containment Operation After Fire
15th Jun 2010 22:13
(Adds details on oil recovery efforts, congressional panel) By Susan Daker Of DOW JONES NEWSWIRES BP PLC (BP, BP.LN) on Tuesday shut down its oil containment and recovery operation in the U.S. Gulf of Mexico as a safety precaution following a fire aboard the vessel that has been processi
Read moreTransocean: Rejecting Force-Majeure Claims On US Gulf Rigs
15th Jun 2010 22:06
By Brian Baskin Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Transocean Inc. (RIG) is disputing that the U.S. drilling moratorium allows oil companies to prematurely end offshore rig leases, the driller said in its monthly fleet-status report. At least three oil producers have said they
Read moreBP Tries To Sell Some Real Estate Amid Oil-Spill Woes
15th Jun 2010 22:05
By A.D. Pruitt Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC (BP, BP.LN) is trying to sell some commercial real estate. The company has put 114 gasoline stations and convenience-store properties on the block in 22 states. The majority of the properties are being marketed as redevel
Read moreUPDATE: BP Bonds Fall, CDS Soar After Fitch Slashes Rating
15th Jun 2010 22:00
(Updates prices and looks forward to Wednesday trading.) By Mark Stein and James Herron Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC (BP, BP.LN) bonds slumped and the cost of insuring the oil company's debt soared Tuesday after Fitch Ratings downgraded BP's long-term issuer defaul
Read moreCREDIT MARKETS: Encouraging US Data Boosts Debt Markets
15th Jun 2010 21:54
By Chris Dieterich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Credit markets were generally firmer Tuesday, bolstered in part by news of improved manufacturing conditions. An index of New York State manufacturing increased to 19.57 from 19.11 in May and import prices fell 0.6% in May,
Read moreMONEY TALKS: Reforming Both Big Banks And Big Oil Companies
15th Jun 2010 21:16
By Michael Casey A DOW JONES NEWSWIRES COLUMN NEW YORK (Dow Jones)--There's an unnerving familiarity to the U.S. government's handling of the Gulf oil spill, with its ad hoc demands on BP PLC's (BP) cash flow and its chaotic and poorly planned cleanup effort. We went through a similar af
Read moreUPDATE: BP: Temporary Shut-Down On Discoverer Enterprise After Fire
15th Jun 2010 20:17
(Adds details on oil recovery efforts.) HOUSTON (Dow Jones)--BP PLC (BP) on Tuesday shut down its oil containment and recovery operation in the U.S. Gulf of Mexico as a safety precaution, following a fire aboard the vessel that has been processing the oil. This is the latest snag in the com
Read moreBP Bonds Fall, CDS Soar After Fitch Cuts Rating To Near Junk
15th Jun 2010 20:15
By Mark Stein and James Herron Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC (BP) bonds slumped and the cost of insuring the oil company's debt soared Tuesday after Fitch Ratings downgraded BP's long-term issuer default rating to just above junk. Fitch slashed BP's credit rating by
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