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Share Price: 523.30
Bid: 515.00
Ask: 528.00
Change: 0.00 (0.00%)
Spread: 13.00 (2.524%)
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UPDATE BP: Recovers 11,070 Bbl/Oil, 23.2 Mcf Nat Gas From Spill By Noon Sunday

Sun, 20th Jun 2010 00:31

(Updates with BP's rate of oil, gas recovery for first half of Sunday) By Angel Gonzalez Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--BP PLC (BP, BP.LN) said it recovered about 11,070 barrels of oil and flared 23.2 million cubic feet of natural gas from a mile-deep leak in the U.S. Gulf of Mexico in the first 12 hours of Sunday. About 6,790 barrels of oil were collected and 4,280 barrels were burned, the company said as its spill-capture efforts recovered from a technical upset Friday night. Themal function, combined with bad weather, led to the 10-hour shutdown of the larger of two oil-collecting vessels, the Discoverer Enterprise. BP restarted the collection aboard the ship effort early Saturday, after cleaning a blocked flame arrestor--a vent that prevents collected oil from catching fire. On Saturday, the company captured about 21,040 barrels of oil and flared 43.4 million cubic feet of natural gas, a rate lower than Thursday's record of more than 25,000 barrels a day. So far the containment effort has recovered more than a quarter of a million barrels of crude; that's approximately the amount of oil leaked by the Exxon Valdez in 1989. The spill BP is trying to contain is estimated to be leaking between 35,000 and 60,000 barrels of oil every day into the Gulf's waters. The closely-watched figures for oil recovery reflect the intense pressure BP is under to contain the spill. The leak, one of the worst environmental disasters ever to afflict the Gulf region, continues to grow nearly two months after a rig leased by BP, the Deepwater Horizon, exploded and sank some 50 miles from the Louisiana shore, killing 11. The company aims to increase its capture rate to more than 50,000 barrels a day by the end of June and to as much as 80,000 by mid-July by bringing in new equipment. BP executives and the U.S. Coast Guard admiral overseeing the response effort, Thad Allen, have warned that further disruptions are likely if storms pass through the area during this summer, as responders would need to evacuate. Even as collection efforts at the surface intensify, BP is moving forward with a parallel strategy to permanently shut down the leaking well by intersecting it with another well and flooding it with cement. A BP executive said Friday that it expected to do so by early August. -By Angel Gonzalez, Dow Jones Newswires; 713-547-9214; angel.gonzalez@dowjones.com (END) Dow Jones Newswires June 20, 2010 19:31 ET (23:31 GMT)
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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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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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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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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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UK earnings, trading statements calendar - next 7 days

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ITM Power PLCHalf Year Results
NWF Group PLCHalf Year Results
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Gem Diamonds LtdTrading Statement
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JTC PLCTrading Statement
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YouGov PLCTrading Statement
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Home REIT PLCTrading Statement
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Jan 2024 17:25

London close: Stocks turn weaker ahead of busy week for earnings

(Sharecast News) - London's stock market saw slight declines by the close on Monday, as investors turned their attention to a week filled with corporate earnings reports and central bank announcements.

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29 Jan 2024 17:02

LONDON MARKET CLOSE: Stocks slightly down pre US Fed, Bank of England

(Alliance News) - Stock prices in London closed mutedly lower on Monday, ahead of a busy week of interest rate decisions and economic data.

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LONDON MARKET MIDDAY: FTSE 100 nudges higher ahead of rate decisions

(Alliance News) - Stock prices in London were mixed going into Monday afternoon, ahead of a busy week of interest rate decisions and economic data.

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29 Jan 2024 08:41

LONDON MARKET OPEN: BP, Shell higher amid Middle East tensions

(Alliance News) - Stock prices in Europe opened mostly lower, ahead of an important week of central bank decisions and economic data.

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