Connect to share and comment

Business Highlights

___ Dow posts fourth loss in a row as US stocks slide The Dow Jones industrial average fell more than 200 points Thursday, its biggest decline in six weeks. The pullback came as investors reacted to discouraging economic reports from China and intensifying tensions in Ukraine. It was the worst day for the market in six weeks and the fourth loss in a row for the Dow. The plunge was a sharp contrast to the relatively quiet trading earlier in the week following a record-setting run last week. Thursday's slide erased the S ___

US ends contract ban on BP

The United States announced Thursday an end to its ban on BP obtaining government contracts following the 2010 Deepwater Horizon disaster, the worst oil spill in US history. The Environmental Protection Agency said in a tweeted statement that BP "agreed to safety and ethics improvements" in exchange for removing the ban, which had hurt the British company's ability to do business in the United States.

Environmental regulator ends US contract ban on BP

The US Environmental Protection Agency announced Thursday an end to its ban on BP obtaining government contracts following the 2010 Deepwater Horizon disaster in the Gulf of Mexico. The EPA said in a tweeted statement that BP "agreed to safety and ethics improvements" in exchange for removing the ban, which had hurt the British company's ability to do business in the United States.

Environmental regulator ends US contract ban on BP

The US Environmental Protection Agency announced Thursday an end to its ban on BP obtaining government contracts following the 2010 Deepwater Horizon disaster in the Gulf of Mexico. The EPA said in a tweeted statement that BP "agreed to safety and ethics improvements" in exchange for ending the ban, which had hurt the British company's ability to do business in the United States. pmh/vs

Shell's Ho-Ho pipeline still shut after leak

NEW YORK (Reuters) - Royal Dutch Shell's <RDSa.L> entire Houston-to-Houma crude oil pipeline remained shut on Monday, following a reported leak late last week, the company said. Construction crew members accidentally punctured the Ho-Ho line near Port Neches, Texas, about 100 miles east of Houston, on Thursday afternoon, releasing about 364 barrels of crude oil. "I am unable to speculate on how long the line will remain shut down," said Destin Singleton, a Shell spokeswoman.

Travel restriction eased for ex-BP exec facing charges related to Gulf oil spill

NEW ORLEANS - A travel restriction is being eased for a former BP executive facing trial for allegedly lying to Congress in 2010 about the amount of oil that was spewing from the company's blown-out well in the Gulf of Mexico. David Rainey, who was recently granted a delay in a trial that had been set for March 10, will be allowed to leave the continental United States for a week in late March. He sought permission recently to travel to the United Kingdom.

Alberta regulator criticizes company for 2012 pipeline oil leak into river

CALGARY - The owner of a pipeline that leaked nearly half a million litres of oil into a central Alberta river has been heavily criticized by the province's energy watchdog. The Alberta Energy Regulator has concluded that Plains Midstream didn't inspect its Rangeland pipeline often enough, didn't pay enough attention to government warnings, failed to enact adequate mitigation measures once the leak occurred and communicated poorly with hundreds of people affected by the spill in June 2012.

BP to establish U.S. shale assets as separate unit

By Sarah Young and Dmitry Zhdannikov LONDON (Reuters) - British oil company BP plans to separate its onshore U.S. oil and gas assets into a new wholly-owned business to improve the competitiveness of its shale gas portfolio there. A number of big oil companies, including rival European operators Shell and BG, have struggled after making big investments in U.S. shale which have left them exposed to depressed gas prices, dragging on their profits.

U.S. court rejects BP appeal over Gulf spill losses

By Jonathan Stempel (Reuters) - A divided U.S. appeals court on Monday rejected BP Plc's bid to block businesses from recovering money over the 2010 Gulf of Mexico oil spill, even if they could not trace their economic losses to the disaster. By a 2-1 vote, the 5th U.S. Circuit Court of Appeals in New Orleans upheld a December 24 ruling by U.S. District Judge Carl Barbier in New Orleans, authorizing the payments on so-called business economic loss claims. It also said an injunction preventing payments should be lifted.

BP in plan to separate U.S. shale assets into new business

LONDON (Reuters) - British oil company said it planned to separate its onshore U.S. oil and gas assets, including its shale resources, into a different business which it would own but which would be managed by a different team. "This move is expected to help unlock the significant value associated with BP's extensive resource position in the U.S. Lower 48 onshore," the company said in a statement on Tuesday, ahead of a management presentation on its strategy in London.
Syndicate content