We would love to hear your thoughts about our site and services, please take our survey here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 513.50
Bid: 513.40
Ask: 513.60
Change: -2.30 (-0.45%)
Spread: 0.20 (0.039%)
Open: 516.30
High: 516.60
Low: 511.90
Prev. Close: 515.80
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

2nd UPDATE:BP:Leaving Deepwater Horizon Unattended During Storm Is Safe

Thu, 22nd Jul 2010 23:15

(Updates with comments from BP executive) By Jason Womack and Susan Daker Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--BP PLC (BP, BP.LN) said Thursday that leaving the shut-in Deepwater Horizon oil well unattended is safe in the case responders have to evacuate for several days to escape a brewing tropical storm. The U.S. government could decide as early as Thursday evening whether to evacuate vessels working on oil-spill recovery as a tropical depression bears down on the Gulf of Mexico. An evacuation of the well site could delay progress on both a relief well, which is scheduled to intersect with BP's broken Macondo well by the end of July, and the "static kill," which involves pumping heavy mud into the wellbore from the surface, for as much as 12 days, said BP senior vice president Kent Wells. That could push the final target date for the killing of the deepwater leak from mid- to late August. Wells said during a conference call with reporters that continued testing had shown no indications of damage to the well. "We have confidence that we can leave the well for that period of time," Wells said. The company also said if it needs to leave the well site, it may still be able to monitor the well pressure from a single boat that will be the last to leave. There's a chance that monitoring may be uninterrupted, he said. Wells's comments underscore the increasing sense among BP and U.S. officials that the well is in good shape--and that BP's move to shut in its oil and gas flow is not creating significant amounts of lateral seepage. That helps build the case for the "static kill," an operation that resembles the "top kill" method that failed in May, but that BP says is now feasible because the well is under control. The U.S. government authorized BP to begin preparations for this fresh attempt to stop the well, Wells said. But the company will have to ask for a final approval once it's ready to go, he added. In a teleconference earlier Thursday, retired Admiral Thad Allen, the leader of the U.S. oil spill response efforts, said, "We are prepared to leave the well unattended for this particular event." A containment cap was put on top of the well last week and has been keeping up to 60,000 barrels of oil a day from flowing into the gulf. A decision about the evacuation could be made by about 8 p.m. local time, Allen said. The storm, currently dubbed Tropical Depression 3, would have to rise to a level of a tropical storm, meaning its winds would have to increase to 39 miles per hour, in order to provoke an evacuation, Allen said. The National Hurricane Center shows the storm tracking toward the oil spill site off the coast of Louisiana. Gale-force winds could reach the site by Saturday morning, Allen said. The vessel drilling the relief well that is closest to completion would be the first to leave, Allen said. BP is drilling two relief wells, and one has been on track to be finished by mid-August. Its completion is heralded as the ultimate way to plug the well. In addition to the evacuation of vessels near the spill site, equipment closer to shore will be moved. U.S. Coast Guard Rear Adm. Paul Zukunft, the on-scene coordinator for the oil spill response, told local officials in a letter released Thursday that there are concerns about the effect of a storm surge on the thousands of feet of oil-containment boom placed along the Gulf's shores. During two recent storm surges, tens of thousands of feet of boom were washed onto the shoreline and marshes of the area, causing damage to the environment, the letter said. The Coast Guard has set up staging areas in four states that rest on high ground to help deal with the problem as the storm approaches, the letter said. Richard Knabb, the tropical weather expert at the Weather Channel, said Thursday that the tropical depression is unlikely to form into a hurricane but would still push sea water, which could be mixed with oil and dispersant, onto land in Louisiana, Mississippi and Alabama. "Some places would get onshore flow, no matter what strength [of storm]," Knabb said. However, the government announced Thursday that it had reopened one-third of the Gulf area that had been closed to fishing as a result of the spill. -By Jason Womack and Susan Daker, Dow Jones Newswires; 713 547-9201; jason.womack@dowjones.com (Russell Adams and Angel Gonzalez contributed to this article.) (END) Dow Jones Newswires July 22, 2010 18:15 ET (22:15 GMT)
More News
17 Apr 2024 13:55

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, urging the energy company to set tighter climate targets.

Read more
17 Apr 2024 10:38

Carbon Done Right advances Sierra Leone rewilding project

(Alliance News) - Carbon Done Right Developments Inc on Wednesday said it has received the fourth disbursement of financing for its reforestation project in West Africa.

Read more
15 Apr 2024 17:10

LONDON MARKET CLOSE: Investors show nerves after Iran launches drones

(Alliance News) - Stock prices in London closed down on Monday, as tensions in the Middle East weighed on investors, with resources sliding as commodity prices fell.

Read more
15 Apr 2024 15:39

London close: Stocks slip on renewed geopolitical tensions

(Sharecast News) - London's equity markets markets experienced a downturn on Monday, with losses particularly notable in the mining and oil sectors, as investors remained cautious amid to escalating geopolitical tensions in the Middle East.

Read more
15 Apr 2024 11:56

LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions

(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.

Read more
15 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 falls as oil lower despite Iran strikes

(Alliance News) - Stock prices in London opened lower on Monday, with a decline in oil prices sending Shell and BP lower, in a cautious start to the week following Iran's strikes on Israel over the weekend.

Read more
13 Apr 2024 16:52

Sector movers: Investors seek out safe havens across all asset classes

(Sharecast News) - Commodity plays were again sought out at the end of the week after The Wall Street Journal said that an Iranian attack against Israel was thought to be imminent.

Read more
12 Apr 2024 17:28

FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

*

Read more
12 Apr 2024 16:56

LONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere

(Alliance News) - London's FTSE 100 defied a tricky day for wider markets, as its miners and oil producers shone, while the dollar was supported as odds of the US Federal Reserve enacting three interest rate cuts this year dwindle.

Read more
12 Apr 2024 15:45

Europe's main energy stocks index hits highest since 2008

April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

Read more
12 Apr 2024 14:45

London close: Stocks mixed as data shows UK GDP growth

(Sharecast News) - London's markets closed with a mixed performance on Friday, as investors digested the latest GDP data suggesting an end to the recession in the UK.

Read more
12 Apr 2024 11:51

LONDON MARKET MIDDAY: February data spurs end of UK recession hopes

(Alliance News) - Stocks in London got a boost on Monday at midday, as investors were optimistic that the UK is heading out of its short lived recession.

Read more
12 Apr 2024 11:47

Europe's main energy stocks index hits highest since 2008

April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

Read more
12 Apr 2024 11:37

TOP NEWS: BP shares rise after reports Adnoc had pondered takeover

(Alliance News) - Shares in BP jumped on Friday after reports that the state-owned, United Arab Emirates oil company was considering, but had ruled out, a bid for the London-based oil major.

Read more
12 Apr 2024 08:58

LONDON MARKET OPEN: Stocks get boost thanks to growth in UK economy

(Alliance News) - Stock prices in London opened higher on Friday, thanks to new data suggesting the UK economy is out of recession.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.