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British Shares Fight for Course but BP Gains

British Shares Fight for Course but BP Gains

With miners and banks trading lower and offsetting gains for oil giant BP, British shares on Monday were fraught for direction. While U. S. markets were closed for a holiday, other European shares also traded in a taut range.

Giant Ship Prepared to Clean up Oil Spill in Gulf of Mexico; Tests Begins

Giant Ship Prepared to Clean up Oil Spill in Gulf of Mexico; Tests Begins

The world's biggest oil skimming pot is expected to be formed, as the officials have commenced the testing on Friday. This vessel will be constructed in a way that it can swallow in large volumes of crude which has been discharged in the Gulf of Mexico from BP's well.

BP fined $5.2 million for misreporting

BP fined $5.2 million for misreporting

Troubled oil company, British Petroleum (BP) has got another shocker. The Obama administration has imposed a fine of $5.2 million on the company for misreporting about the amount energy production that takes place on an Indian reserved area in Colorado. As per the Interior Department, BP had given false reports about the royalty rates that it charges for natural gas in the Southern Ute.

First Hurricane of the season interrupts the clean up efforts of BP

The first hurricane storm in the Atlantic named Alex has hit the clean up efforts of BP for the oil spill in the Gulf of Mexico.

The hurricane Alex has upgraded from a tropical storm status in late last night and is now expected to hit the coasts of Mexico and Texas later on today. This storm is expected to stop the clean up efforts for next several days to come.

Gulf oil drilling ban lifted by US federal judge

Barack Obama

A judge of a federal court of US has lifted the ban over the deepwater oil drilling in the Gulf of Mexico. US President Mr. Barack Obama had applied the six-month ban in a response to the huge BP oil rig explosion.

The judge has apprehended that such a lengthy ban is not justified and invalid because the ban has a very negative impact on local business.

BP Oil Spill: Leaking Spotted before Explosion

BP Oil Spill: Leaking Spotted before Explosion

It has been claimed that the huge devastating BP Deepwater Horizon oil spill explosion in the Gulf of Mexico had been triggered by the leaking of the oil rig's safety apparatus that had begun several weeks prior to the explosion. This has been said by an oil worker, who was able to escape the explosion.

For 3rd Successive Day, BP Helps FTSE Close on a High

For 3rd Successive Day, BP Helps FTSE Close on a High

As per the latest reports, FTSE closed on a high at 5,163.68. The figure has increased by 31.18 points, or 0.6%. The gain has been witnessed on the index for the 3rd successive day.

It is believed that the top share index of Britain has closed on a high, as BP had contributed in the same.

1.4b Reached: Cost of Cleaning Oil Spill

1.4b Reached: Cost of Cleaning Oil Spill

Shares in BP carried on falling further this morning, after it exposed that the expenses of cleaning up the oil spill off the Gulf of Mexico have arrived at $1.4 billion.

BP Faces Problems over Fuels Takeover Speculation

BP Faces Problems over Fuels Takeover Speculation

The failure of BP to control the leakage of millions of gallons of crude oil into the Gulf of Mexico may leave the biggest oil and gas producer in the U. S in a fight to stay independent.

Incompetency or a Lie; Either Way, Catastrophic Results

Incompetency or a Lie; Either Way, Catastrophic Results

It is being pointed out that BP knew the initial estimates of oil gushing into the Gulf of Mexico from the site of the Deepwater Horizon drilling rig were larger than what they were publicly stating was the flow.

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