Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. 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: 469.50
Bid: 469.50
Ask: 469.55
Change: -1.00 (-0.21%)
Spread: 0.05 (0.011%)
Open: 468.40
High: 472.45
Low: 467.30
Prev. Close: 470.50
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-Grangemouth strike vote raises fears of N.Sea oil disruption

Fri, 27th Sep 2013 16:42

* Refinery outage could cause disruption to Forties grade

* Strike prompted by alleged victimisation of worker

* Decision to be made by union on Monday or Tuesday

By Simon Falush

LONDON, Sept 27 (Reuters) - Workers at the 210,000barrel-per-day (bpd) oil refinery in Grangemouth, Scotland votedon Friday in favour of strike action, raising fears ofdisruption to North Sea oil supplies that could drive up thebenchmark oil price.

Steam from the Grangemouth refinery, owned by PetroIneos, powers the adjoining Kinneil terminal,which receives oil from a pipeline carrying North Sea Forties,one of the four crudes that underpins the Brent oil benchmark.

"It could be very bullish for Brent...due to the Kinneiltie-up with the refinery," one trader said.

A strike at the refinery in 2008 led to concerns about oilsupplies and queues at petrol stations around Scotland as wellas pushing gasoil futures to a record high.

Brent oil rose following the news on Friday,reversing direction from a fall earlier in the day.

Over 80 percent of the workers balloted voted in favour ofstrike action over operator Ineos's treatment of a unionorganiser and worker, Stephen Deans, who is at the centre of adisciplinary action, the union said on Friday.

A decision on the next steps for industrial action would betaken will be made after the weekend, Pat Rafferty, Scotland'sRegional Secretary told Reuters.

"We've clearly got a strong mandate. We're consulting without shop stewards and will notify the company on Monday orTuesday."

Ineos is investigating Deans over whether his politicalactivities with the Labour Party contravened company policy, andaccuses the union of interfering with its inquiry.

"Ineos will not be bullied by the union's behaviour. Therecannot be one rule for union officials and one rule for everyoneelse," said Calum MacLean, chairman of Ineos Petrochemicals UK.

Ineos said that the investigation into Deans will becompleted by Oct. 25.

The Forties pipeline was expected to load about 329,000 bpdin October.

A spokeswoman for BP, which operates Kinneil,confirmed that it relies on steam from Grangemouth but said shecould not comment on the impact of a possible strike.

Relations between the workforce and Ineos, already strainedby the investigation into Deans, were put under further pressureafter comments about the future of the chemical plant.

MacLean said last week the plant could close by 2017 unlessit cuts pension costs and got government support.

More News
18 Apr 2024 08:11

BP cuts size of executive team, shakes up structure

(Sharecast News) - BP has trimmed its executive team as part of a shake-up of its organisational structure, it was confirmed on Thursday.

Read more
17 Apr 2024 18:58

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, that called on the energy company to set tighter climate targets.

Read more
17 Apr 2024 17:36

Sustainable Finance Newsletter - Republican AGs look to limit climate groups

April 17 (Reuters) - In prior newsletters I have reported on the ongoing review by U.S. energy regulators of top asset managers' big utility holdings.

Read more
17 Apr 2024 13:55

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, urging the energy company to set tighter climate targets.

Read more
17 Apr 2024 10:38

Carbon Done Right advances Sierra Leone rewilding project

(Alliance News) - Carbon Done Right Developments Inc on Wednesday said it has received the fourth disbursement of financing for its reforestation project in West Africa.

Read more
15 Apr 2024 17:10

LONDON MARKET CLOSE: Investors show nerves after Iran launches drones

(Alliance News) - Stock prices in London closed down on Monday, as tensions in the Middle East weighed on investors, with resources sliding as commodity prices fell.

Read more
15 Apr 2024 15:39

London close: Stocks slip on renewed geopolitical tensions

(Sharecast News) - London's equity markets markets experienced a downturn on Monday, with losses particularly notable in the mining and oil sectors, as investors remained cautious amid to escalating geopolitical tensions in the Middle East.

Read more
15 Apr 2024 11:56

LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions

(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.

Read more
15 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 falls as oil lower despite Iran strikes

(Alliance News) - Stock prices in London opened lower on Monday, with a decline in oil prices sending Shell and BP lower, in a cautious start to the week following Iran's strikes on Israel over the weekend.

Read more
13 Apr 2024 16:52

Sector movers: Investors seek out safe havens across all asset classes

(Sharecast News) - Commodity plays were again sought out at the end of the week after The Wall Street Journal said that an Iranian attack against Israel was thought to be imminent.

Read more
12 Apr 2024 17:28

FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

*

Read more
12 Apr 2024 16:56

LONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere

(Alliance News) - London's FTSE 100 defied a tricky day for wider markets, as its miners and oil producers shone, while the dollar was supported as odds of the US Federal Reserve enacting three interest rate cuts this year dwindle.

Read more
12 Apr 2024 15:45

Europe's main energy stocks index hits highest since 2008

April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

Read more
12 Apr 2024 14:45

London close: Stocks mixed as data shows UK GDP growth

(Sharecast News) - London's markets closed with a mixed performance on Friday, as investors digested the latest GDP data suggesting an end to the recession in the UK.

Read more
12 Apr 2024 11:51

LONDON MARKET MIDDAY: February data spurs end of UK recession hopes

(Alliance News) - Stocks in London got a boost on Monday at midday, as investors were optimistic that the UK is heading out of its short lived recession.

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.