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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
01/22/201518:11:19Ex-BP Executive Named Apache CFO -- Update
01/20/201517:20:44Judge May Allow BP to Pay Deepwater Fines Over Time--Update
01/20/201517:00:34Judge May Allow BP to Pay Deepwater Fines Over Time
01/19/201520:22:06Anadarko To Fight Gulf-Spill Fine
01/19/201513:08:06LONDON MARKETS: U.K. Stocks Log Third Straight Session Of Gains
01/19/201512:58:19EUROPE MARKETS: European Stocks Hit Seven-year High With ECB...
01/19/201511:25:28EUROPE MARKETS: European Stocks Hit Seven-year Highs With ECB...
01/19/201508:49:07LONDON MARKETS: U.K. Stocks Eye Third Straight Session Of Gains
01/19/201506:22:23EUROPE MARKETS: European Stocks Edge Higher, But Oil Shares Underperform
01/18/201515:39:28Anadarko to Fight Oil-Spill Fine
01/18/201515:08:38Low Oil Prices to Play Into BP Fine
01/16/201512:25:56LONDON MARKETS: Resource Firms Lift FTSE To Erase Potential Weekly...
01/16/201510:55:24LONDON MARKETS: Resource Firms Lift FTSE To Erase Weekly Loss
01/16/201509:49:07RWE to Complete Dea Sale by March -- Update
01/16/201504:09:11LONDON MARKETS: FTSE 100 Faces Third Straight Week Of Losses
01/16/201501:50:48Oil Stable in Asian Trade but Speedy Rebound Unlikely
01/15/201519:24:37BP Faces Up to $13.7 Billion in Fines in Deepwater Gulf Spill...
01/15/201518:38:35ADR Shares End Mixed; Anheuser-Busch InBev Shares Edge Up
01/15/201518:02:49BP Faces Up to $13.7 Billion in Fines in Deepwater Gulf Spill...
01/15/201507:14:39Tullow Oil Cuts Exploration Budget -- Update

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