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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
02/11/201615:34:00Total Trims Loss, To Reduce Capital Spending--3rd Update
02/11/201613:24:00Total Trims Loss, To Reduce Capital Spending--2nd Update
02/11/201612:56:00Correction to BP Climate-Change Article on Wednesday
02/11/201607:19:00Total Trims Loss, To Reduce Capital Spending--2nd Update
02/11/201607:01:00Total Trims Loss, To Reduce Capital Spending -- Update
02/10/201614:00:00Azerbaijan Still Fighting Fatal Oil-Rig Fire After Two Months
02/10/201612:51:00BP CEO Dudley Says Would be 'Good for BP if the U.K. is in Europe'
02/10/201612:40:00BP Boss Calls for Climate-Change Action at Oil Conference
02/10/201606:07:00BP CEO: Natural Gas Powerful Supply-Side Lever to Help Cut Emissions
02/09/201617:20:00Anadarko Slashes Dividend by 81%
02/05/201607:30:00EU Approves Schlumberger's Cameron Takeover
02/05/201603:03:00Pay Dividends Or Keep Ratings
02/04/201610:18:00Shell Profit Battered by Weak Oil Prices -- 3rd Update
02/04/201608:31:00Shell Profit Battered by Weak Oil Prices -- 2nd Update
02/04/201604:34:00Shell Profit Battered by Weak Oil Prices -- Update
02/03/201619:23:00Wal-Mart to Pump Its Own Gasoline
02/03/201615:57:00Oil Prices Rise 8% on Weak Dollar, Despite Daunting Supply Data
02/03/201603:02:00Crude Slump Pressures Exxon, BP
02/03/201602:00:00Crude Oil Stays Below $30 a Barrel
02/02/201620:50:00Japan's Shares Fall Sharply

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