BP @ 425.55p, +9.15p (+2.2%).
Some timely progress for BP today, in a mixed day for the FTSE, as the company continues to seek recognition of a collective responsibility (if not accountability) with its partners and contractors in the disastrous Gulf of Mexico venture.
This progress came in the form of an announcement by the company that Andarko has reached a settlement with BP to the tune of $4bn which will go straight into the $20bn fund set up by BP to meet claims relating to the incident.
This appears to leave Haliburton and Transocean as the remaining contractors still opposed to settlement.
Andarko will also transfer its 25% interest in Macondo to BP.
Elsewhere, the company also announced that the UK Government has approved BP and partners to proceed with a further £4.5bn project in the North Sea which brings the total planned investment in 4 projects to £10bn of which BP's share is £4bn. The company believes that a further 3bn barrels of oil and gas can be produced from these projects.
Off its days highs and still very much a work in progress.
Related articles:
- www.sharecast.com: BP and Anadarko settle ... now for Halliburton and Transocean
- www.bp.com: BP Announces Settlement with Anadarko Petroleum Company of Claims Related to Deepwater Horizon Accident
- www.sharecast.com: BP wins approval on new project in North Sea
- www.bp.com: BP and Partners Investing £10 Billion in UK Oil and Gas Projects
No comments:
Post a Comment