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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
07/30/201504:41:53Cape Wins GBP9.8 Million Contract From BP
07/30/201504:10:11Centrica to Shrink Oil Business, Slash Jobs
07/30/201503:16:18Subsea 7 Gets $500 Million Contract Offshore Egypt
07/29/201506:06:33Correction to BP Swings to Loss in 2Q on Deepwater Deal, Low...
07/28/201518:38:49ADRs End Higher; Baidu, BP Decline
07/28/201510:47:04Correction to BP Swings to Loss Story
07/28/201509:19:13BP Swings to Loss in 2Q on Deepwater Deal, Low Oil Prices...
07/28/201509:00:23Husky Energy Profit Slumps 81% on Oil's Drop
07/28/201508:01:11BP CEO Sees Oil Prices Remaining Lower for Longer
07/28/201506:59:24BP Swings to Loss in 2Q On Deepwater Deal, Low Oil Prices --2nd...
07/28/201506:31:42BP CFO Says Further Softness in Oil Price to Come
07/28/201505:02:03BP Swings to Loss in 2Q On Deepwater Deal, Low Oil Prices --Update
07/28/201503:20:07BP Swings to Loss
07/28/201502:59:13BP Swings to Second-Quarter Loss on Lower Oil Price, Deepwater...
07/27/201511:19:06BP Looks to the Future After Settling Deepwater Horizon Claims
07/23/201506:54:58BP plc 2Q 2015 -- Forecast
07/15/201513:50:12BP Finds Itself at Odds With Regulators Again
07/15/201513:40:21BP Finds Itself at Odds With Regulators Again
07/14/201522:20:06Twitter Shares Hit by Takeover Hoax
07/14/201502:54:20Carillion Trading In Line With Expectations Wins BP Oman Contract

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