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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
12/17/201413:49:34European Stocks Buffeted by Oil -- 3rd Update
12/16/201415:44:10Ruble's Decline Deepens Concerns for European Companies
12/16/201413:22:22Shockwaves From Oil Plunge Hit Stocks, Currencies -- 5th Update
12/15/201417:25:27Woodside Slows Progress on Browse LNG Development
12/15/201413:23:59LONDON MARKETS: FTSE 100 Sheds Gains As Oil, Mining Stocks Drop
12/15/201413:23:54LONDON MARKETS: FTSE 100's Sheds Gains As Oil, Mining Stocks...
12/15/201413:01:34LONDON MARKETS: FTSE 100 Gains On Respite For Oil Shares
12/11/201413:03:12LONDON MARKETS: FTSE 100 Logs 4th Straight Losing Day As Miners...
12/11/201410:43:08LONDON MARKETS: FTSE 100 Eyes 4th Straight Losing Day As Miners...
12/11/201404:36:19Wood Group Eyes Earnings Growth Despite Oil Price Slump
12/11/201404:09:17LONDON MARKETS: FTSE 100 Higher As Oil Stocks Advance
12/10/201418:22:51ADR Shares End Lower; Shares of Oil Firms Fall
12/10/201413:19:13LONDON MARKETS: FTSE 100 Turns Lower As Energy Stocks Stung By...
12/10/201409:25:23BP to Book $1 Billion in Restructuring Charges -- 2nd Update
12/10/201405:12:06BP to Book $1 Billion of Restructuring Charges -- Update
12/10/201404:40:17BP to Book $1 Billion of Restructuring Charges
12/09/201416:03:38LONDON MARKETS: Tesco Hits 14-year Low In London After Warning
12/08/201418:58:09Supreme Court Rejects BP Plea to Review Deepwater Horizon Settlement...
12/08/201418:55:35LONDON MARKETS: FTSE 100 Falls As Investors Fret About Global...
12/08/201418:51:32Supreme Court Rejects BP Plea to Review Deepwater Horizon Settlement...

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