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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 [email protected]

Stock News for Bp (BP)
DateTimeHeadline
03/17/201710:14:00BP in Talks with Ineos to Sell Forties Pipeline System in UK...
03/16/201716:36:00BP Selling Large Stake in Refining New Zealand
03/14/201703:46:00Wood Group Gets 2 Mad Dog Phase 2 Contracts Worth $85 Million
03/08/201717:22:00ADRs End Lower; Petrobras Trades Actively
03/08/201707:29:00Oil Companies Take to Thrifty Bets
03/01/201706:00:00BP and Clean Energy Partner to Expand U.S. Renewable Natural...
02/28/201714:16:00BP Sets Break-Even Target at $35 a Barrel
02/28/201709:34:00BP Expects Upstream, Downstream Growth
02/16/201717:39:00ADRs End Mixed; Vedanta Rises
02/16/201716:58:00ADRs End Mostly Up; Shire Trades Actively
02/09/201702:53:00BHP Billiton Board Signs Off on Investment in BP's Mad Dog Project
02/07/201712:02:00BP Needs Oil to Rise to $60 to Break Even -- 5th Update
02/07/201708:49:00BP Reports Another Annual Loss Amid Low Oil Prices -- 4th Update
02/07/201706:31:00BP Reports Another Annual Loss Amid Low Oil Prices -- 3rd Update
02/07/201704:18:00BP Earnings Fall for Second Consecutive Year -- Update
02/07/201703:02:00BP Earnings Fall for Second Consecutive Year
01/29/201707:29:00Oil Firms Plot Sharply Divergent Spending Paths
01/24/201702:59:00BP to Sell 25% of Magnus Oil Field, Associated Pipeline Infrastructure...
01/23/201710:33:00BP's Thunder Horse South Expansion Launches Ahead of Schedule...
01/20/201718:00:00ADRs End Higher; Airlines Rise

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