PRESS RELEASE: Admiral Allen Establishes Deputy Incident Commanders For Alabama, Mississippi And Florida
15th Jun 2010 17:09
WASHINGTON -- At the authorization of the President and Homeland Security Secretary Janet Napolitano, National Incident Commander Admiral Thad Allen has directed the establishment of three Deputy Incident Commanders to lead oil impact mitigation and cleanup efforts in Alabama, Mississippi and Florid
Read moreAT A GLANCE: Oil Executives Testify In DC; Fitch Downgrades BP
15th Jun 2010 17:00
THE NEWS: Executives from BP PLC (BP, BP.LN) and other major oil companies are testifying before Congress on 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 Chevr
Read more2nd UPDATE: Exxon To Distance Itself From BP As House Hearing Begins
15th Jun 2010 16:59
(Updates with more details.) By Siobhan Hughes and Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--A top House Democrat told leaders of five major oil companies their oil-spill response plans were "cookie-cutter plans," impressive on paper but flawed in fact. House En
Read moreRep. Markey Demands Apology From BP Over Spill Estimates
15th Jun 2010 16:53
By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Rep. Ed Markey (D., Mass.) blasted BP PLC (BP, BP.LN) for initial estimates that 1,000 barrels of oil were gushing out of a broken pipe a mile below the Gulf of Mexico and demanded that a company executive apologize. "Are y
Read moreAdm. Allen: US Prepared To Process Jones Act Waivers Quickly
15th Jun 2010 16:50
DOW JONES NEWSWIRES The U.S. commander overseeing the response to BP PLC's (BP, BP.LN) Gulf of Mexico oil spill said the federal government was prepared to quickly clear any requests by foreign-flagged vessels that could provide vital spill-response activities in the area. Generally, U.S. l
Read moreUPDATE: Democratic Senators: BP Escrow Dividend Plan 'Unacceptable'
15th Jun 2010 16:49
(Updates with details of House lawmakers letter to BP.) By Corey Boles Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--A plan by BP PLC (BP, BP.LN) to stash funds owed to shareholders for a dividend payment in an escrow account at a later date would amount to a "backdoor payment" to holde
Read morePRESS RELEASE: BP Announces Accelerated Payments Of Commercial Large Loss Claims
15th Jun 2010 16:38
BP ANNOUNCES ACCELERATED PAYMENTS OF COMMERCIAL LARGE LOSS CLAIMS BP today announced that it has approved initial payments toward 90% of commercial large loss claims that have been filed as a result of financial losses of the Deepwater Horizon incident and spill. Using an accelerated process
Read moreDemocratic Senators: BP Escrow Dividend Plan 'Unacceptable'
15th Jun 2010 16:28
By Corey Boles Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--A plan by BP PLC (BP, BP.LN) to stash funds owed to shareholders for a dividend payment in an escrow account at a later date would amount to a "backdoor payment" to holders of the company's stock and be "unacceptable," two Democra
Read morePRESS RELEASE: Admiral Allen Provides Guidance to Ensure Expedited Jones Act Waiver Processing Should It Be Needed
15th Jun 2010 16:22
Admiral Allen Provides Guidance to Ensure Expedited Jones Act Waiver Processing Should It Be Needed WASHINGTON - National Incident Commander Admiral Thad Allen today announced the development of specific guidance to ensure accelerated processing of requests for Jones Act waivers should they be r
Read moreHouse Panel Clashes On Whether Spill Should Prompt Energy Law Revamp
15th Jun 2010 16:17
By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--House Democrats and Republicans on a key subcommittee clashed Tuesday over whether the country's energy policies should be revamped in the wake of the Deepwater Horizon oil spill. Lawmakers at a U.S. House Energy and Comme
Read moreUPDATE:Exxon To Distance Itself From BP As House Hearing Begins
15th Jun 2010 15:54
(Updates with beginning of hearing, comments from representatives) By Siobhan Hughes and Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. House lawmakers on Tuesday criticized U.S. oil executives, using the first industrywide hearing since a vast Gulf of Mexico oil sp
Read moreMARKET TALK: Cost To Insure BP Spikes On Six-Notch Downgrade
15th Jun 2010 15:54
1452 GMT [Dow Jones] The cost to insure BP PLC (BP) rises dramatically after Fitch downgraded the company's long-term issuer default rating six notches to BBB, just above junk status. BP CDS at 495 BP rising from 440 BP, according to Markit. ([email protected]) Contact us in New York. Darlen
Read more4th UPDATE: BP Slide After Fitch's Six-Notch Rating Downgrade
15th Jun 2010 15:14
(Adds share price movement, Exxon Mobil comment.) By James Herron Of DOW JONES NEWSWIRES LONDON (Dow Jones)--BP PLC's (BP) shares fell more than 5% Tuesday after Fitch Ratings downgraded its long-term issuer default rating to just above junk as potential up front costs from the oil spi
Read moreFitch deals BP new blow
15th Jun 2010 15:07
Ratings agency Fitch has reduced its rating for BP to a level barely above junk status. The oil giant's credit rating has been lowered by six grades to "BBB" from "AA" on concerns over the ballooning cost of the response to the Gulf of Mexico oil spill. The ratings agency also expressed concerns a
Read moreRefinery Status:Exxon Torrance Ops Normal After -2-
15th Jun 2010 15:02
expected to be completed by mid-2010, Co. said Feb. 25. Co. is planning to put a premium base-oil facility at plant. Flint Corpus $250 mln project for new Spring 2010 Hills Christi, TX
Read more