PYX Resources: Achieving volume and diversification milestones. Watch the video 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: 491.30
Bid: 490.50
Ask: 490.60
Change: 2.00 (0.41%)
Spread: 0.10 (0.02%)
Open: 491.00
High: 493.10
Low: 490.30
Prev. Close: 489.30
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Official:Tally Of Spill-Flow Rates Won't Be Known For Long Time

Tue, 15th Jun 2010 18:23

By Shayndi Raice Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--A top government scientist surveying the damage to the Gulf of Mexico from the Deepwater Horizon oil spill said the final tally of oil flow rates will not be known for a long time. In testimony before the House Natural Resources Committee, U.S. Geological Survey Director Marcia McNutt responded to questioning about the rate of oil flowing spilling into the Gulf of Mexico, saying that her agency is focused right now on responding to the disaster, but that ultimately, the flow rate will need to be known. Last week, a team led by government scientists trying to measure the well flow rate announced that about 20,000 to 40,000 barrels a day of oil could be spewing into the Gulf, far more than an initial estimate of 1,000 barrels a day. Aside from the environmental significance of the flow rate, the final tally of oil spewing into the ocean will determine how much BP PLC (BP, BP.LN)) must pay for damage to the environment. "Damage recovery will not be determined until very far down the road when we actually believe we can calculate what the damage to the environment has been," she said. Flow rates are currently determined by watching video of oil pouring into the ocean. House members also grilled David Kennedy, acting assistant administrator of the National Oceanic and Atmospheric Administration, to determine how underfunding of the agency contributed to its lack of study in the area of oil spill disasters. "Our feeling for some time has been that capacity, if it were stretched by a very significant spill, could certainly compromise our ability to respond," Kennedy said. Kennedy was criticized by Rep. Carol Shea-Porter, (D., N.H.) for not being more aggressive about budget cuts that the agency knew were affecting its capabilities. "If you knew and feared this, and others in your job feared this, I think the response should have been a lot greater than it was," she said. The BP-owned well has been spewing oil for nearly two months, dirtying the shores of four states and threatening to cause environmental and economic devastation in the region. -By Shayndi Raice, Dow Jones Newswires; 212-416-2672; shayndi.raice@dowjones.com (END) Dow Jones Newswires June 15, 2010 13:23 ET (17:23 GMT)
More News
9 Apr 2024 10:21

PRESS: Shell could make London exit if value gap to US does not close

(Alliance News) - Shell PLC fired a warning shot to that it could be prepared to move its listing to the US in a fresh blow to London's financial centre.

Read more
9 Apr 2024 08:53

TOP NEWS: BP predicts upstream production will rise in first quarter

(Alliance News) - BP PLC on Tuesday said it expects first quarter upstream production to be higher than the previous three month period but cautioned lower prices would hurt performance elsewhere.

Read more
9 Apr 2024 08:44

LONDON MARKET OPEN: Stocks shaky ahead of US CPI data, ECB decision

(Alliance News) - Stock prices in London opened mostly lower on Tuesday, as investors look ahead to a key inflation reading from the US, as well as the latest interest rate decision from the European Central Bank.

Read more
9 Apr 2024 07:51

BP expects rise in first-quarter upstream energy output

April 9 (Reuters) - BP said on Tuesday it expects first-quarter upstream production of both oil and gas as well as low-carbon energy to be higher than the previous three months.

Read more
9 Apr 2024 07:39

LONDON BRIEFING: HSBC sells Argentinian arm for USD550 million

(Alliance News) - Stocks in London are called to open lower on Tuesday, as investors nervously look ahead to US inflation data and the European Central Bank's latest interest rate decision.

Read more
9 Apr 2024 07:24

BP sees higher Q1 upstream production

(Sharecast News) - Oil giant BP said it expected first-quarter upstream production to be higher than the previous three months.

Read more
5 Apr 2024 12:00

LONDON MARKET MIDDAY: Stocks drop on Israel-Iran tensions and Fed talk

(Alliance News) - Stock prices in London were firmly down at midday on Friday, as rising tensions between Israel and Iran alongside doubts around the timing of US interest rate cuts hurt investor sentiment.

Read more
5 Apr 2024 08:47

LONDON MARKET OPEN: Europe slumps on US rate worry and rising tensions

(Alliance News) - Stocks in Europe had a downbeat start to the day on Friday, with investors unnerved by rising geopolitical tensions and hawkish remarks from US central bankers.

Read more
4 Apr 2024 16:55

LONDON MARKET CLOSE: US initial jobless claims hotter than expected

(Alliance News) - Stock prices in London closed up on Thursday, as investors first digested words from US Federal Reserve Chair Jerome Powell overnight, before reacting to hotter-than-expected US initial jobless claims.

Read more
4 Apr 2024 11:58

LONDON MARKET MIDDAY: Stocks up as Fed chair calms some rate nerves

(Alliance News) - Stock prices in London were in the green on Thursday afternoon, with mining stocks powering the FTSE 100 higher, as investors digested words from Federal Reserve Chair Jerome Powell.

Read more
2 Apr 2024 23:07

Sector movers: Builders and REITS slip, geopolitics boost Big Oil and gold miners

(Sharecast News) - Personal Goods was at the bottom of the pile on the FTSE 350 at the start of the second quarter, as fashion retailer Burberry Group's shares fell back towards their five-year lows.

Read more
2 Apr 2024 16:57

LONDON MARKET CLOSE: Europe down after Easter holiday weekend

(Alliance News) - The FTSE 100 took a hit on Tuesday, after a boost from London's miners and oil firms were not enough to lift the index.

Read more
2 Apr 2024 15:22

London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

Read more
2 Apr 2024 11:00

Biden administration approves eighth US offshore wind project

WASHINGTON, April 2 (Reuters) - The U.S. Interior Department on Tuesday approved the country's eighth commercial-scale offshore wind project, which will be built off the coast of Massachusetts, bringing online electricity to power more than 900,000 homes.

Read more
2 Apr 2024 09:09

LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

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.