Obama: 'Preliminary Conversations' With BP On Claims Have Begun
14th Jun 2010 21:41
By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. President Barack Obama said Monday his administration has begun "preliminary conversations" with BP PLC (BP, BP.LN) about setting up a "mechanism" to ensure that legitimate claims stemming from an ongoing oil spill in the
Read moreAT A GLANCE: Congress: 'Serious Questions' On BP Decisions
14th Jun 2010 21:31
THE NEWS: BP PLC (BP, BP.LN) Chief Executive Tony Hayward will face even tougher questioning Thursday when he appears before Congress after new documents raised "serious questions" about BP's decisions before an explosion on the Deepwater Horizon drilling rig caused the deaths of 11 workers and
Read moreExxon CEO Asks If Deepwater Horizon Risks Were Beyond Norms
14th Jun 2010 21:19
By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Exxon Mobil Corp. (XOM) Chief Executive Rex Tillerson said it is critical to learn whether companies involved in the Deepwater Horizon oil spill took on higher-than-average risks. "We need to know if the levels of risk tak
Read moreUPDATE: Court Narrows Scope Of Transocean Effort To Limit Liability
14th Jun 2010 21:04
(Adds more details and background, Department of Justice comment and share-price movement.) By Mark Long Of DOW JONES NEWSWIRES An effort by Deepwater Horizon owner Transocean Ltd. (RIG) to use a 159-year-old maritime law to limit its liability in the Gulf of Mexico oil spill doesn't shi
Read moreBIG PICTURE: Oil Spill Has Taken Focus Off Financial Overhaul
14th Jun 2010 20:50
By Kathleen Madigan A DOW JONES NEWSWIRES COLUMN NEW YORK (Dow Jones)--BP executives have replaced Wall Street traders as the most vilified businessmen. As a result, the federal legislation to overhaul the financial system, currently working its way through the reconciliation process in
Read moreCanada Oil Cos See Little Hit From Deepwater Moratoriums
14th Jun 2010 20:49
By Edward Welsch Of DOW JONES NEWSWIRES CALGARY (Dow Jones)--Canadian petroleum companies engaged in offshore oil and gas production said Monday that they expect only a slight effect on their operations due to international moratoriums on deepwater drilling. Nexen Inc. (NXY) President an
Read moreBP Hires Credit Suisse As Adviser -Fox Business's Gasparino
14th Jun 2010 20:38
DOW JONES NEWSWIRES BP PLC (BP) has hired Credit Suisse Group (CS) to act as an adviser as the troubled oil company prepares to pay for billions of dollars in potential liabilities connected to the Gulf of Mexico oil spill over the course of a few years, Fox Business Network's Charles Gasparino
Read moreOPTIONS REPORT: Bears Paw BP, But Bulls Charge Anadarko
14th Jun 2010 20:30
By Brendan Conway Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Bears had a firm hold on BP PLC options Monday, but bullish traders dominated much of the action elsewhere, making short-term bets that shares in companies including Gulf oil spill-linked Anadarko Petroleum Corp. can make fast ga
Read moreMARKET TALK: Louisiana Most At Risk In BP Oil Spill - Moody's
14th Jun 2010 20:17
3:17 (Dow Jones) Credit implications for states affected by the BP oil spill are negative, but are offset in near term by support from BP, Moody's says. Ratings agency says Louisiana is most at risk "given its proximity to the well and its economic reliance on undersea oil production." About two-thi
Read moreBP WATCH: BP Shares, Options Reflect Concerns Over Liabilities
14th Jun 2010 20:14
By Donna Kardos Yesalavich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Shares of BP Plc (BP) fell Monday in London and the U.S., erasing some gains from late last week, as investors fretted over how additional funding demands from the U.S. to pay for damages from the oil spill could impact
Read moreUPDATE:House Probe Raises 'Serious Questions' About BP Actions
14th Jun 2010 19:53
(Updates throughout with details from letter.) By Siobhan Hughes and Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)-- A U.S. House panel disclosed new details about the catastrophic blowout of a BP PLC (BP) well in the Gulf of Mexico, citing evidence that company executives h
Read morePRESS RELEASE: Moody's Affirms Pride's Ba1 Rating And Positive Outlook, Lowers Sgl Rating
14th Jun 2010 19:36
The following is a press release from Moody's Investors Service: Approximately $1 billion of rated debt affected New York, June 14, 2010 -- Moody's Investors Service affirmed Pride International, Inc.'s (Pride) Ba1 Corporate Family Rating and the Ba1 ratings on its senior notes outstanding. Mood
Read moreBP Hires Banks To Ward Off Takeover Attempts -Fox Business's Gasparino
14th Jun 2010 19:29
DOW JONES NEWSWIRES BP PLC (BP, BP.LN) has hired Goldman Sachs Group Inc. (GS), private-equity firm Blackstone Group LP (BX) and an investment bank to help it ward off takeover attempts, Fox Business Network's Charles Gasparino reported Monday. Blackstone's president and chief operating officer
Read moreCourt Narrows Scope Of Transocean Effort To Limit Spill Liability
14th Jun 2010 18:53
By Mark Long Of DOW JONES NEWSWIRES An effort by Deepwater Horizon owner Transocean Ltd. (RIG) to use a 159-year-old maritime law to limit its liability in the Gulf of Mexico oil spill shields it against practically none of the lawsuits filed against it under the nation's environmental laws,
Read moreLow-Pressure System Could Form First Atlantic Tropical Storm
14th Jun 2010 18:44
MIAMI (AFP)--A low-pressure area forming over the Atlantic could become the first tropical storm of the season, the National Hurricane Center warned Monday. "There remains a high chance, 60%, of this system becoming a tropical cyclone during the next 48 hours," the center said in a statement, as
Read more