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UK Backs BP Over 'Excessive' US Ban on Contract Deals -- Report

The U.K. government is backing BP PLC (BP) in the dispute over the oil company's future in the U.S., calling the ban that stops it from winning federal contracts "excessive," reports the Financial Times Wednesday. BP has been barred from U.S. government contracts since the Deepwater Horizon disaster in 2010 but the paper quotes the U.K. as saying in a filing to court that the ban "affects jobs and pensions of workers in the United Kingdom, the United States, and elsewhere." The U.K. has previously made behind the scenes intervention. The FT says the move threatens to escalate the issue from a dispute involving a private company to a transatlantic diplomatic row, although Downing Street officials said the intervention was made on purely business grounds. Full story: http://www.ft.com Write to London bureau at generaldesklondon@dowjones.com

Stock News for Bp (BP)
DateTimeHeadline
05/27/201616:52:00Big Oil Companies Stay Shy Despite Upswing in Prices
05/25/201617:00:00Exxon, Chevron Shareholders Reject Climate-Change Stress Tests
05/19/201613:41:00Business Watch
05/19/201605:44:00BP Sells 11.5% Stake in Castrol India for Undisclosed Sum; Still...
05/19/201603:05:00BP to Raise GBP400 Million of New Debt Financing for General...
05/17/201618:43:00ADRs End Lower; NQ Mobile Rises
05/17/201614:31:00Construction Begins on Trans Adriatic Gas Pipeline
05/17/201613:48:00BP Head Of Exploration Richard Herbert Departs -- Update
05/17/201613:10:00Top BP Executive Departs
05/17/201613:00:00BP Head Of Exploration Richard Herbert Departs
05/16/201603:37:00BP Doubles Interest in North Sea Culzean Field Development
05/10/201614:10:00Advisory Firm Urges Shell Shareholders to Reject Pay Package
05/10/201606:10:00Oil Prices Rise, Supply Outages in Focus
05/05/201614:10:00BP to Open Iran Office, Iranian Firm Says
05/05/201613:59:00BP to Open Iran Office in Summer, Iranian Oil Firm Says -- Update
05/05/201611:48:00BP to Open Office in Iran in Summer, says NIOC
05/03/201621:30:00BHP, Vale Face $44 Billion Lawsuit Over Brazil Dam Disaster
04/29/201608:40:00Oil Companies Begin to Benefit From Cost Cuts
04/28/201603:15:00John Wood Group Secures $500 Million Services Contract
04/27/201603:03:00Huge Oil Spill From 2010 Still Shadows BP -- WSJ

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