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Stock Market & Financial Investment News

News Breaks
November 28, 2012
12:38 EDTBPBP says working with EPA to demonstrate 'present responsibility'
BP stated: "Today’s announcement by the US Environmental Protection Agency regarding BP’s temporary suspension relates only to future potential contracts with the US government. The temporary suspension does not affect any existing contracts the company has with the US government, including those relating to current and ongoing drilling and production operations in the Gulf of Mexico. The EPA’s action is pursuant to administrative procedures providing for discretionary suspension until a company can demonstrate "present responsibility" to conduct business with the US government. BP has been in regular dialogue with the EPA and has already provided both a present responsibility statement of more than 100 pages and supplemental answers to the EPA's questions based on that submission. Moreover, in support of BP’s efforts to establish present responsibility, the US Department of Justice agreed, in the plea agreement, that it will advise any appropriate suspension or debarment authority that in the Department’s view, BP has accepted criminal responsibility for its conduct relating to the Deepwater Horizon blowout, explosion, oil spill and response. The EPA has informed BP that it is preparing a proposed administrative agreement that, if agreed upon, would effectively resolve and lift this temporary suspension. The EPA notified BP that such a draft agreement would be available soon."
News For BP From The Last 14 Days
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October 30, 2014
08:20 EDTBPMarathon Petroleum and partners order study of future operations for Capline
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October 28, 2014
06:06 EDTBPBP oil spill left 'bathtub ring' on Gulf of Mexico floor, AP reports
New research shows that the BP oil spill in April 2010 left an oily "bathtub ring" on the sea floor that is nearly the size of Rhode Island, the Associated Press reports, citing a study by UC Santa Barbara’s David Valentine, the chief scientist on the federal damage assessment research ships. The study estimates that around 10M gallons of oil congealed on the Gulf of Mexico's floor around the damaged Deepwater Horizons oil rig. Reference Link
05:46 EDTBPBP raises quarterly dividend 5.3% to 10c
BP announced a quarterly dividend of 10c per ordinary share, a 5.3% year-on-year increase. It is expected to be paid in December. BP said it has continued its program of share buybacks and that $10B has now been used to buy back shares for cancellation since March 2013. Divestments with a cumulative value of $4B have now been agreed towards a total of $10B expected by the end of 2015.
05:44 EDTBPBP reports Q3 EPS 99c, consensus 91c
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05:36 EDTBPCGG SA, BP announce R&D agreement
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October 26, 2014
17:07 EDTBPVenezuela decides against Citgo sale, WSJ says
Venezuela has decided against selling its U.S. refining unit Citgo, says the Wall street Journal. Earlier this year Venezuelan officials indicated that they were looking to sell Citgo for as much as $10B, added the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
October 24, 2014
07:23 EDTBPHalliburton feels BP spill trial proposal should be declined, Bloomberg says
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06:22 EDTBPStatoil secures new Australian exploration permit
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October 23, 2014
11:41 EDTBPBP downgraded to Hold from Buy at Societe Generale
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09:01 EDTBPChevron announces oil discovery in deepwater U.S. Gulf of Mexico
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05:53 EDTBPBP, GDF Suez discover new Central North Sea field
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October 16, 2014
13:54 EDTBPGulf states to oppose OPEC oil production ceiling cut, WSJ says
Despite the recent turmoil in the oil market, Gulf nations including Saudi Arabia, Kuwait and the United Arab Emirates are seen as opposing OPEC oil-production ceiling cuts at next month's meeting, says the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link

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