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Share Price Information for BP (BP.)

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Share Price: 488.15
Bid: 487.80
Ask: 488.10
Change: 2.90 (0.60%)
Spread: 0.30 (0.062%)
Open: 485.25
High: 488.80
Low: 485.20
Prev. Close: 485.25
BP. Live PriceLast checked at -

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BP fine for Gulf of Mexico spill $4bn lower than expected

Fri, 16th Jan 2015 07:14

Oil giant BP faces a maximum penalty $13.7bn under the Clean Water Act, after the District Court for the Eastern District of Louisiana ruling on the Deepwater Horizon case has found that 3.19m barrels of oil were discharged in the Gulf of Mexico in 2010.The bill will come as a relief to some BP investors, who had anticipated the penalty to be at least $4bn more.The ruling put the spill's size below the government's 4.09m estimate and just under the 3.26m estimated by the firm, as some 810,000 barrels were collected during clean-up operations following the worst offshore disaster in US history.In September 2014, US District Court Judge Carl Barbier ruled that the company had been "grossly negligent", meaning the firm could be fined a statutory limit of up to $4,300 for each barrel spilled, when fines are assessed in the third and final phase of the trial, which is set to begin on 20 January.BP had sought a "simple negligence" ruling, which would have seen the fines capped at $1,100 per barrel, while Barbier has the power to assign lower per barrel penalties.Meanwhile, the court has also ruled that BP, which has already set aside $42bn for clean-up, compensation and fines, was not grossly negligent in its source control efforts following the incident.The firm has sold over $39bn worth of assets since the disaster and news of a somewhat limited fine came as a relief to investors, with BP shares rising about 1% in after-hours trading late on Thursday.
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30 May 2024 20:55

Trinidad court recognizes ConocoPhillips' $1.3 bln claim against Venezuela

May 30 (Reuters) - A Trinidad and Tobago court order has granted ConocoPhillips the right to enforce a $1.33 billion claim against Venezuela for past expropriations, a decision that could complicate proposed offshore gas ventures between Trinidad and Venezuela.

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29 May 2024 21:16

BP, Trinidad's NGC receive US license for gas development with Venezuela

May 29 (Reuters) - British oil major BP and Trinidad and Tobago's state energy firm NGC have received a two-year license from the U.S. Treasury Department to negotiate and develop the Cocuina-Manakin gas fields with Venezuela, Trinidad's energy minister said on Wednesday.

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27 May 2024 11:00

BP, EOG Resources in talks to jointly develop Trinidad gas field

May 27 (Reuters) - Oil major BP and U.S. shale producer EOG Resources are in discussions to jointly develop a natural gas field off the coast of Trinidad and Tobago, the British company said.

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25 May 2024 17:56

South Africa's Central Energy Fund acquires Durban refinery land, assets

CAPE TOWN, May 25 (Reuters) - South Africa's state-owned Central Energy Fund has acquired land and assets at the country's largest refinery which has been out of operation for the last two years, the energy ministry said on Saturday.

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23 May 2024 21:40

Republican-led states ask Supreme Court to quash Big Oil climate lawsuits

May 23 (Reuters) - Nineteen Republican attorneys general have filed a rare complaint directly with the U.S. Supreme Court asking it to block several Democratic-led states from pursuing climate change-related litigation against major oil and gas companies in state courts.

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22 May 2024 21:54

US lawmakers urge Justice Department to probe climate deception by Big Oil

May 22 (Reuters) - U.S. lawmakers behind a congressional probe of major oil companies on Wednesday called on the Justice Department to investigate whether the industry deceived the public about fossil fuels' impact on climate change.

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22 May 2024 02:00

British firms expecting hard time in China market, lobby group warns

BEIJING, May 22 (Reuters) - British firms expect doing business in China to become harder over the next five years, a British business lobby group said on Wednesday, as Beijing strives to halt a retreat in foreign funds from a market once seen as the engine of global growth.

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22 May 2024 00:01

US Cash Products-Chicago RBOB surges after refinery issues

NEW YORK, May 21 (Reuters) - Cash differentials for RBOB gasoline surged on Tuesday after a refinery that has faced operational issues in recent days bid higher for supplies, traders said.

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16 May 2024 17:53

European shares snap nine-day winning streak as Siemens weighs

Roche gains on obesity drug results from early-stage trial

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16 May 2024 17:33

FTSE 100 ends lower on disappointing corporate updates, BT Group soars

BT Group up after CEO aims for more than double free cash flow

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16 May 2024 16:54

LONDON MARKET CLOSE: Europe struggles but record highs in New York

(Alliance News) - Large-cap European equities closed lower on Thursday, underperforming New York counterparts, which continued to push higher following Wednesday's softer US inflation data.

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16 May 2024 16:53

London close: Stocks mixed as ex-divs drag on FTSE

(Sharecast News) - London stocks ended mixed on Thursday, following a flurry of corporate news and a focus on US unemployment figures.

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16 May 2024 12:53

Costain says confident of long-term prospects amid contract wins

(Alliance News) - Costain Group PLC on Thursday said trading in the year to date is in line with expectations, underpinned by a number of contract wins.

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16 May 2024 09:02

Indonesia expects oil and gas investments to rise 29% to $17 billion in 2024

BANGKOK, May 16 (Reuters) - Indonesia expects investments in its oil and gas sector to rise 29% in 2024, the chairman of regulator SKK Migas told Reuters, as it races to ramp up drilling and exploration following the recent exits of global giants Shell and Chevron.

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14 May 2024 21:40

Federal regulators sign off Venture Global's repairs at Louisiana plant

HOUSTON, May 14 (Reuters) - U.S. federal regulators said on Tuesday they are satisfied that Venture Global LNG is trying to correct faults at the heat recovery steam generator (HRSG) at its Calcasieu Pass LNG export plant in Louisiana and expects the work to be completed in the timeline promised by the exporter.

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