The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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: 526.10
Bid: 526.10
Ask: 526.20
Change: 1.30 (0.25%)
Spread: 0.10 (0.019%)
Open: 524.80
High: 527.80
Low: 523.10
Prev. Close: 524.80
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: US Oil-Patch Democrats Oppose House Drilling Bill

Thu, 29th Jul 2010 23:30

(Updates with quote from Rep. Waxman, in sixth paragraph.) By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Oil-state Democrats are lining up against offshore-drilling legislation up for a vote in the U.S. House of Representatives Friday, suggesting that Congress may face pressure to scale back its response to the worst offshore oil spill in U.S. history. "I'm a 'no,'" Rep. Gene Green (D., Texas) told reporters on Thursday. He said that "about 30 of us" have concerns, especially about a measure that would discard the cap on damage claims that companies would face for spills like the one in the Gulf of Mexico. Independent oil and gas producers said they would be put out of business if exposed to unlimited liability for damages. The House vote is the first chamber-wide response to the BP PLC (BP, BP.LN) spill, which harmed the tourism and fishing industries along the Gulf Coast and damaged wetlands. With control of 255 seats, the Democratic caucus has enough votes to pass the spill legislation even if 30 members break ranks. But the rift exposes a broader divide in Congress that could stall spill-response legislation in the U.S. Senate, where Democrats need Republican support to advance legislation. Eliminating the cap on damage claims that companies must pay for offshore oil spills is viewed by oil and gas producers as the most onerous part of the legislation. Democratic leaders and the Obama administration want to discard liability caps, currently set at $75 million, in order to avoid putting taxpayers on the hook for damages that go beyond the costs of cleanup. But without a limit to liability, insurers have indicated that they will stop offering insurance, leaving offshore drilling only to the major oil companies that are able to self-insure against disasters. "The current limits don't work," said House Natural Resources Committee Chairman Nick Rahall (D., W.Va.) "Are the concerns of the small independents legitimate? Yes, I believe they are. And perhaps in the give and take that's going on currently, we'll find some middle ground there that will take into account their concerns." He added, "I'm hoping that something can be found." "They're raising a good concern and I guess we have to evaluate it," said House Energy and Commerce Committee Chairman Henry Waxman (D, Calif.) But he said that "the committee that decided that issue for the House must have heard that and didn't quite accept it." In the U.S. Senate, Sen. Mary Landrieu (D., La.) is pushing a potential compromise to break an impasse. Under Landrieu's proposal, which hasn't been formally introduced, an existing liability cap on economic damages resulting from an oil spill would be raised to $250 million from $75 million, according to an aide. The proposal would also set up a $10 billion mutual insurance fund into which energy companies would collectively pay. Each company would contribute different amounts, based on its oil and natural-gas production. -By Siobhan Hughes, Dow Jones Newswires; 202-862-6654; siobhan.hughes@dowjones.com (Tennille Tracy contributed to this article.) (END) Dow Jones Newswires July 29, 2010 18:30 ET (22:30 GMT)
More News
Today 14:21

Norway's wealth fund falls short on climate ambitions, NGO says

OSLO, April 29 (Reuters) - Norway's $1.6 trillion sovereign wealth fund, the world's largest, is falling short on its climate ambitions by failing to back multiple shareholder proposals pushing oil companies to cut their greenhouse gas emissions, a non-governmental organization said in a report said on Monday.

Read more
24 Apr 2024 19:30

Trans Mountain oil shippers raise concerns about risk of delay to full service

April 23 (Reuters) - Some shippers on Canada's Trans Mountain expansion project are raising concerns that the long-delayed oil pipeline will not be fully in service by its projected start date of May 1, according to a letter to the Canada Energy Regulator on Tuesday.

Read more
24 Apr 2024 13:24

Pressure on gas and LNG prices to help switch from coal, says J.P. Morgan

LONDON, April 24 (Reuters) - Global natural gas prices will come under pressure through the end of the decade as supply and shipping infrastructure grow rapidly, particularly in Qatar and the U.S., J.P. Morgan said in a report.

Read more
24 Apr 2024 09:58

Aker BP Q1 beats forecast as costs fall, Tyrving to start sooner

OSLO, April 24 (Reuters) - Norwegian independent oil company Aker BP on Wednesday posted higher-than-expected net profit for the first quarter as costs fell, and said its Tyrving field development could start production sooner than previously planned.

Read more
24 Apr 2024 05:38

Aker BP Q1 beats forecast on record output, lower cost

OSLO, April 24 (Reuters) - Norwegian independent oil company Aker BP on Wednesday posted a higher-than-expected net profit for the first quarter as production hit a record while costs fell.

Read more
18 Apr 2024 14:45

BP's gas and renewables boss steps down, as CEO shrinks leadership

LONDON, April 18 (Reuters) - BP said on Thursday its head of natural gas and low carbon energy Anja-Isabel Dotzenrath will step down after just over two years, while CEO Murray Auchincloss announced plans to simplify its management structure.

Read more
18 Apr 2024 14:12

UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
Quantum Exponential Group PLCGM re delisting or potential investment in company
Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
AIQ LtdAGM
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
AFC Energy PLCAGM
Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
Schroders PLCAGM
Smithson Investment Trust PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
  
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.

Read more
18 Apr 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 up despite hawkish Fed rates outlook

(Alliance News) - Stock prices in London were higher on Thursday afternoon, despite the prospect of higher for longer US interest rates hanging over stocks.

Read more
18 Apr 2024 09:04

IN BRIEF: BP trims executive team in operational restructuring

BP PLC - London-based oil and gas major - Announces organisational restructuring. Intends to keep its three businesses - production & operations, gas & low carbon energy and customers & products - enabled by trading & shipping. Plans to integrate the current regions, corporates & solutions organisation into the businesses and functions. BP will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal. BP explains these changes will "reduce duplication and reporting line complexity".

Read more
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

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.