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LONDON, Jan 30 (Reuters) - Britain's consumer affairs watchdog said competition in the UK petrol and diesel market was "working well" and there was little evidence that pump prices rise quickly when the wholesale price goes up but fall more slowly when it drops. The Office of Fair Trading (
Read moreBy Tom Bergin LONDON, Jan 30 (Reuters) - BP said it was making ten senior management changes in a reorganization of its core oil and gas production unit, continuing a reversal of the structure adopted in the wake of the Gulf of Mexico oil spill. The move is the latest in BP's struggle
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Competition at petrol stations is fair, the Office of Fair Trading (OFT) announced Wednesday. In an call for information launched in September last year, the OFT determined that competition at the pump is "working well", and blamed the increases in petrol and diesel over the past 10 years on rising
Read moreWASHINGTON, Jan 30 (Reuters) - Lanny Breuer, the head of the Justice Department's criminal division, plans to step down on March 1, according to an internal memo. "As I wrote to the President, and want to tell you, serving as the head of this remarkable Division has been the greatest privil
Read moreBy Tom Bergin LONDON, Jan 30 (Reuters) - BP said it was reorganizing its core oil and gas production unit, continuing a move back to the model it had before the Gulf of Mexico oil spill and helping free Chief Executive Bob Dudley from direct oversight of drilling operations. Lamar McK
Read moreBy John Kemp LONDON, Jan 30 (Reuters) - The arrival of a swarm of activist hedge funds and investors in the oil and gas sector may be good news for corporate governance, and possibly for shareholders. But it risks killing off the innovation and risk-taking which has revolutionised U.S. petr
Read moreStrong gains for financial stocks were being outweighed by heavy losses in the resources sector in London, with markets trading mixed ahead of a busy day in the US later on. "European markets are looking exhausted, broadly flat as traders continue to refrain from building equity positions after the
Read moreMarkets opened flat on Wednesday morning ahead a busy day on the economic calendar with all eyes focusing on growth data and a policy decision in the US later on. The world's biggest economy is expected to have grown at an annualised rate of 1.1% in the fourth quarter of 2012, according to prelimin
Read moreA US court accepted an agreement by BP to plead guilty for its role in the Deepwater Horizon explosion and oil spill which killed 11 men, the company said in a statement Wednesday. BP will pay $4.0bn over a period of five years, during which time the company will serve probation. At the District
Read moreIran believes BP-operated Azeri oil platforms have polluted the Caspian Sea and may sue the UK oil group if it continues, Iran's deputy environment minister has been reported as saying by Iranian media. Iranian officials have complained that Azeri oil has washed up on Iranian beaches over the last y
Read moreHOUSTON, Jan 29 (Reuters) - Gasoline retreated 1 cent a gallon on Tuesday as BP Plc's 240,000 barrel-per-day (bpd) Los Angeles-area refinery in Carson, California, restored normal operations on units affected by a brief power outage over the weekend, traders said. February-delivery CARBOB g
Read moreJan 29 (Reuters) - A U.S. judge has accepted an agreement by BP Plc to plead guilty for its role in the Deepwater Horizon disaster and pay $4.0 billion in penalties for the worst offshore oil spill in U.S. history, a court official said on Tuesday. The company had said previously it would p
Read more(Adds detail on maintenance) HOUSTON, Jan 29 (Reuters) - BP Plc's 225,000 barrel per day (bpd) Cherry Point, Washington, is conducting maintenance on parts of the hydrotreating complex, sources familiar with refinery operations said on Tuesday. BP told Washington state pollution regulato
Read moreHOUSTON, Jan 29 (Reuters) - BP Plc's 225,000 barrel per day (bpd) Cherry Point, Washington, is conducting maintenance on parts of the hydrotreating complex, sources familiar with refinery operations said on Tuesday. BP told Washington state pollution regulators last week that it had shut a u
Read moreJan 29 (Reuters) - A U.S. judge has accepted an agreement by BP Plc to plead guilty for its role in the Deepwater Horizon disaster and pay $4.5 billion in penalties for the worst offshore oil spill in U.S. history. The April 2010 explosion on a rig in the Gulf of Mexico killed 11 workers. T
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