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Share Price:
484.15
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484.10
Ask:
484.25
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Don't have an account? Click here to register.BP 'not under threat' of contract termination
Mon, 15th Oct 2012 08:14
The Azerbaijan government has reportedly denied that there is any threat to BP's contract following remarks made by the head of state about disappointing production figures.Azerbaijan News Agency reported on Monday, October 15th that there was "no threat of termination of contracts with foreign oil companies in Azerbaijan." It cited as its source the Azerbaijan Minister of Industry and Energy, Natiq Aliyev, who said: "The statements of the head of state about the need to take measures and adoption of these measures voiced in relation to BP over the drop in oil production on Azeri-Chirag-Guneshli field do not contain any threat in relation to foreign oil companies."There is no threat of termination of the contracts with the companies. In this case, the matter is about measures that must be taken to stabilise oil production on Azeri-Chirag-Guneshli field," he concluded.This follows a report in The Telegraph of a dramatic televised attack on the company last week by the President of Azerbaijan, Ilham Aliyev. He said, that the oil major made "grave mistakes" that had resulted in an $8.1bn (£5bn) shortfall in the government's revenues and went on to threaten "serious measures." The embattled company was accused of failing to meet its output targets at the giant Azeri-Chirag-Guneshli oil field in the country, which accounts for 4% of its global oil production. The spat highlights the political risk of dealing with repressive regimes in the hunt for oil.CM
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UK earnings, trading statements calendar - next 7 days
| Wednesday 1 May | |
| Anexo Group PLC | Full Year Results |
| Cambridge Cognition Holdings PLC | Full Year Results |
| Computacenter PLC | Trading Statement |
| Georgia Capital PLC | Q1 Results |
| GSK PLC | Q1 Results |
| Haleon PLC | Trading Statement |
| HSS Hire Group PLC | Full Year Results |
| Intelligent Ultrasound Group PLC | Full Year Results |
| Maintel Holdings PLC | Full Year Results |
| Next PLC | Trading Statement |
| Smith & Nephew PLC | Trading Statement |
| Thursday 2 May | |
| Endeavour Mining PLC | Q1 Results |
| First Tin PLC | Trading Statement |
| Hiscox Ltd | Trading Statement |
| International Personal Finance PLC | Trading Statement |
| Kerry Group PLC | Trading Statement |
| Lancashire Holdings Ltd | Trading Statement |
| Melrose Industries PLC | Trading Statement |
| NAHL Group PLC | Full Year Results |
| Reach PLC | Trading Statement |
| Shell PLC | Q1 Results |
| Smiths News PLC | Half Year Results |
| Smurfit Kappa Group PLC | Trading Statement |
| Spectris PLC | Trading Statement |
| Standard Chartered PLC | Q1 Results |
| TI Fluid Systems PLC | Q1 Results |
| Friday 3 May | |
| InterContinental Hotels Group PLC | Trading Statement |
| Mondi PLC | Trading Statement |
| Trainline PLC | Full Year Results |
| Monday 6 May | |
| no events scheduled | |
| Tuesday 7 May | |
| Arecor Therapeutics PLC | Full Year Results |
| BP PLC | Q1 Results |
| Ebiquity PLC | Full Year Results |
| IWG PLC | Trading Statement |
| Kosmos Energy Ltd | Q1 Results |
| MaxCyte Inc | Q1 Results |
| Trident Royalties PLC | Trading Statement |
| Vaalco Energy Inc | Q1 Results |
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