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Share Price Information for BP (BP.)

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Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
High: 516.60
Low: 506.10
Prev. Close: 515.80
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Statoil Moves To End Contracts For US Gulf Drilling--Spokesman

Tue, 15th Jun 2010 19:57

By Brian Baskin Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Statoil A/S (STO, STL.OS) is moving to suspend its contracts for two drilling rigs in the Gulf of Mexico, citing the U.S. moratorium on offshore drilling. The Norwegian oil company is invoking a force-majeure clause in its contracts with Transocean Inc. (RIG) and Maersk Drilling. The clause allows for an early end to a contract if outside factors beyond the companies' control prevents the rig from operating. Anadarko Petroleum Corp. (APC) and Cobalt International Energy Inc. (CIE) had previously declared force majeure on three rigs. President Barack Obama on May 27 announced a six-month moratorium on offshore drilling, as criticism of the industry swelled in the weeks after a rig drilling a well for BP PLC (BP, BP.LN) caught fire and sank off the coast of Louisiana. The well has gushed oil into the Gulf of Mexico ever since. In the Gulf of Mexico, the moratorium has idled more than 30 rigs operating in deeper water. "The moratorium has created a very challenging situation for all parties involved in [Gulf of Mexico] deep water drilling, with considerable cost exposure as well as many operational, legal and other challenges facing rig operators, partners, suppliers and contractors," said Ola Morten Aanestad, a Statoil spokesman, in an email. Aanestad said Statoil intends to resume drilling in the Gulf of Mexico when the moratorium is lifted, and "will continue to explore routes and evaluate options that could minimize the impact for all parties involved." The rig operators have yet to respond to Statoil's notice, though another driller, Noble Corp. (NE), has disputed Anadarko's invoking of force majeure on one of its rigs. Typically, a company declaring force majeure pays close to the full amount of the rig's lease for several weeks. Statoil has a contract for Transocean's Discoverer Americas through October 2013 at a rate of $482,000 a day, according to the driller's website. Maersk's rig is also leased through October 2013. -By Brian Baskin, Dow Jones Newswires; 212-416-2453; brian.baskin@dowjones.com (END) Dow Jones Newswires June 15, 2010 14:57 ET (18:57 GMT)
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6 Feb 2024 12:10

LONDON MARKET MIDDAY: BP tops FTSE 100 index on buyback promise

(Alliance News) - The FTSE 100 was higher at midday Tuesday, despite lingering unease in equity markets on US interest rate worries, while BP led the way among London's large-caps as it announced a buyback plan.

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6 Feb 2024 09:04

TOP NEWS: BP promises buybacks and hikes dividend despite profit fall

(Alliance News) - BP PLC on Tuesday reaffirmed it is sticking to its commitment to share buybacks despite reporting a profit decline amid a fall in oil prices.

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6 Feb 2024 08:53

LONDON MARKET OPEN: BP jumps after unveiling share buyback

(Alliance News) - The FTSE 100 in London opened higher on Tuesday, with oil major BP at the top of the index, thanks to its new share buyback programme.

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6 Feb 2024 07:47

LONDON BRIEFING: BP promises buyback despite drop in profit

(Alliance News) - Stocks in London are called to open higher, ahead of a slew of construction purchasing managers' index readings from the eurozone, the UK and Germany.

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6 Feb 2024 07:02

BP unveils $1.75bn buyback as 2023 profits halve on weaker oil price

(Sharecast News) - Shares in BP surged on Tuesday as the energy giant announced a $1.75bn share buyback despite a slump in annual profits as oil prices fell during 2023 from the spike caused by Russia's invasion of Ukraine.

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2 Feb 2024 17:12

LONDON MARKET CLOSE: Stocks mixed as US jobs data dashes rate cut hope

(Alliance News) - Stock prices in London closed mixed, after hotter-than-expected US jobs data hit already precarious investor sentiment and all but ensured the Federal Reserve will not be cutting interest rates next month.

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2 Feb 2024 13:14

BP appoints Kate Thomson as its permanent finance chief

(Sharecast News) - BP announced the appointment of Kate Thomson as its new, permanent chief financial officer on Friday, effective immediately.

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2 Feb 2024 12:27

TOP NEWS: BP promotes Kate Thomson as permanent finance chief

(Alliance News) - BP PLC on Friday named Kate Thomson as its permanent chief financial officer, after being in the interim role since September.

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2 Feb 2024 12:09

LONDON MARKET MIDDAY: Airlines up but oil falls on Middle East talks

(Alliance News) - Stock prices in London were higher at midday Friday, ahead of the afternoon's US jobs data, as earnings from tech behemoths overnight lifted investor morale.

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2 Feb 2024 08:54

LONDON MARKET OPEN: European stocks lifted on Wall Street's gains

(Alliance News) - Stock prices in London opened higher on Friday, closing of a busy week of monetary policy decisions.

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1 Feb 2024 17:03

LONDON MARKET CLOSE: Stocks down on hawkish BoE interest rates hold

(Alliance News) - Stock prices in London closed down on Thursday after the Bank of England left interest rates on hold in a split decision that was hawkish on expectations of rate cuts.

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1 Feb 2024 12:22

LONDON MARKET MIDDAY: BoE keeps bank rate on hold in split decision

(Alliance News) - London's FTSE 100 was on the up on Thursday afternoon after the Bank of England left interest rates on hold on Thursday, in a split decision.

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1 Feb 2024 10:06

New UK oil and gas exploration licences approved in the North Sea

(Alliance News) - The UK's oil and gas regulator has awarded 24 new exploration licences to 17 separate companies in a move that has been welcomed by a trade body but condemned by climate campaigners.

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LONDON MARKET OPEN: Shells begins USD3.5 billion buyback; eyes on BoE

(Alliance News) - Stock prices in London opened mixed, ahead of the Bank of England's first interest rate decision of the year.

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30 Jan 2024 15:28

UK earnings, trading statements calendar - next 7 days

Wednesday 31 January 
Aberforth Smaller Companies Trust PLCFull Year Results
abrdn Private Equity Opportunities Trust PLCFull Year Results
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GSK PLCFull Year Results
ITM Power PLCHalf Year Results
NWF Group PLCHalf Year Results
Thursday 1 February 
Airtel Africa PLCTrading Statement
AG Barr PLCTrading Statement
BT Group PLCTrading Statement
Cranswick PLCTrading Statement
Gem Diamonds LtdTrading Statement
Glencore PLCTrading Statement
JTC PLCTrading Statement
Rank Group PLCHalf Year Results
Shell PLCFull Year Results
TClarke PLCTrading Statement
Friday 2 February 
YouGov PLCTrading Statement
Monday 5 February 
Home REIT PLCTrading Statement
Porvair PLCFull Year Results
Trident Royalties PLCTrading Statement
Vodafone Group PLCTrading Statement
Tuesday 6 February 
Alumasc Group PLCHalf Year Results
BP PLCFull Year Results
Filtronic PLCHalf Year Results
Mattioli Woods PLCHalf Year Results
Renishaw PLCHalf Year Results
Virgin Money UK PLCTrading Statement
  
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