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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
09/28/201609:50:00Australia Seeks More Information on BP's Drill Plan
09/28/201609:39:00Australia's Oil Regulator Again Seeks More Information on BP's...
09/28/201606:23:00Australia Regulator Seeks More Information on BP's Drill Plan
09/27/201611:29:00BP Signs Amendments to Three Concession in Egypt
09/21/201612:55:00Oil Companies in Iraq Hunker Down as Investment Slows
09/16/201619:05:00BP's Whiting, Ind., Refinery to Repair Crude Unit
09/16/201617:33:00ADRs End Lower; Banks, Oil Firms Slide
09/16/201607:00:00Exxon's Accounting Practices Are Investigated
09/12/201616:00:00Bank of England Lists Corporate Bonds Eligible for Purchase
09/08/201600:32:00China's Biggest Teapot Refinery Seeks More Long-Term Contracts
09/07/201610:31:00Global Oil Demand Closing In on Supply, Executives Say
09/07/201603:02:00European Firms Borrow at Subzero Rates -- WSJ
09/06/201619:33:00European Companies Rush to Borrow for Free
09/06/201609:16:00Now Companies Want to Borrow Money for Free
09/01/201604:22:00BP Signs Second Chinese Shale Gas Contract with CNPC
08/30/201603:04:00Statoil Slashes Project Spending -- WSJ
08/29/201621:10:00Companies' Report on Brazil Dam Failure Adds Little New on Causes
08/29/201604:40:00Statoil Recalibrates Giant North Sea Project to Save Billions...
08/29/201604:09:00Statoil to Cut Costs, Raise Output at Giant North Sea Oil Project...
08/25/201603:03:00Oil Firms Binge on Debt -- WSJ

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