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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
06/20/201605:35:00BP Sanctions Fast-Track Development of Atoll Discovery in Egypt
06/17/201606:08:00BP and Rosneft Create Joint Venture to Explore for Oil in East...
06/15/201608:50:00European Corporations Urge U.K. to Remain in EU
06/11/201603:04:00BP to Spin Off Norwegian Oil, Gas Fields -- WSJ
06/10/201611:45:00CHC Helicopter Grounded On BP Oil Field in the North Sea
06/10/201610:51:00BP, Det Norske Plan Listed Joint Venture -- Update
06/10/201605:47:00Statoil Lowers Expectations off Newfoundland
06/10/201603:30:00BP, Det Norske Plan Listed Norway Joint Venture
06/10/201602:43:00BP, Det Norske Plan Listed Joint Venture
06/09/201618:50:00Brazil Police Say BHP, Vale At Fault for Dam Disaster
06/09/201615:48:00As U.S. Banks Exit Commodities, an Australian Rival Takes Over
06/09/201607:16:00Correction to BP's Egyptian Discovery Announcement
06/09/201607:08:00BP Announces New Oil Discovery in Egypt's East Mediterranean
06/08/201612:00:00Oil Gains Energy Market Share in Changing Landscape
06/08/201611:35:00Oil Gains Energy Market Share in Changing Landscape
06/06/201614:20:00IRS Says Fines Paid to Finra Aren't Tax Deductible
06/05/201619:53:00As U.S. Banks Exit Commodities, an Australian Rival Takes Over
06/03/201613:16:00BP Agrees to Pay $175 Million to Investors Over Deepwater Risks
06/02/201622:10:00BP Reaches Tentative $175 Million Settlement in Securities Litigation
06/02/201621:56:00BP Reaches Tentative $175 Million Settlement in Securities Litigation

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