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Posts from ‘June, 2010’

Potential scenarios facing BP

June 3 (Reuters) – BP’s (BP.L) (BP.N)oil spill in the Gulf of Mexico has become the worst in U.S. history, prompting speculation about the future of the company and its chief executive, Tony Hayward.

BP’s fall presents Shell with a once-in-a-lifetime opportunity

Financial Times: Talk of takeover swirls around BP By Lina Saigol and Miles Johnson in London and Ed Crooks in Houston Published: June 2 2010 23:49 | Last updated: June 2 2010 23:49 When a whale is wounded, it does not take long for the sharks to circle. With BP floundering in the Gulf of [...]

TCEQ fines Motiva $250,000

June 2, 2010: AUSTIN – From TCEQ – The Texas Commission on Environmental Quality today approved penalties totaling $823,010 against 70 regulated entities for violations of state environmental regulations. Included in the total are penalties of $249,818 against Motiva Enterprises LLC, in Jefferson County, for numerous air violations, as a result of routine investigations conducted [...]

Gulf oil spill: Will Deepwater sink the 101-year-old BP?

guardian.co.uk Mud-smeared BP logos, boycotts, and an almost halved market value indicate deep disgust over the handling of the oil slick Andrew Clark in New York: Wednesday 2 June 2010 17.37 BST  At a BP service station in downtown Manhattan, the British company’s green and yellow logo has been defaced with huge brown smears of [...]

Will BP Be Acquired? A Few Things to Think About

THE WALL STREET JOURNAL. BLOGS JUNE 2, 2010 1.52 PM ET By Michael Corkery BP may be a bargain right now. It has lost 36% of its value, some $74.4 billion in all since the oil spill began on April 20. With a total market cap of $117 billion, BP is now near the bottom [...]

BP’s share price plunge spurs speculation over its future

Analysts question BP’s ability to pay dividends Terry Macalister Wednesday 2 June 2010 18.22 BST Tony Hayward at the BP command centre in Houston last week. Photograph: Reuters The survival of BP as an independent company was being openly discussed in the City today as the share price continued to tumble and its credit risk [...]

If you still hold BP stock, cut your losses and get out

BP has already far eclipsed Goldman Sachs as the most hated company in America. Seeking Alpha June 02, 2010 BP’s worst-case scenario from a few weeks ago is now a reality, and things are still going downhill fast. Let’s first review the latest facts, and then discuss their significance for BP shareholders. As of last [...]

Are BP’s days numbered?

BP’s stock price may make it takeover bait By LOREN STEFFY Copyright 2010 Houston Chronicle June 1, 2010, 10:39PM Are BP’s days numbered? That question bubbles up from beneath new cost estimates and growing market skepticism as the company’s latest attempt to cap a runaway well a mile below the Gulf of Mexico failed last [...]

BP’s Future at Risk as Share Plunge Fuels Takeover Speculation

By Brian Swint and Stanley Reed June 2 (Bloomberg) — BP Plc’s failure to stop an oil leak from spewing millions of gallons of crude into the Gulf of Mexico may leave the biggest oil and gas producer in the U.S. in a fight to stay independent. BP shares have plunged 34 percent since the [...]

FEARS FOR BP AFTER OIL LEAK AND DROP IN COMPANY SHARES

Wednesday June 2,2010 BP is facing growing speculation it will be vulnerable to a takeover bid as uncertainties and costs mount in the wake of the oil giant’s latest failure to halt the devastating oil spill in the Gulf of Mexico. The company’s shares plummeted by 64¾p to 430p, wiping £12billion off its market value, [...]

Oil spill sparks criminal probe

REUTERS La./LONDON (Reuters) – BP Plc faced a grim future on Tuesday as its failure to stop a Gulf of Mexico oil spill prompted a plunge in the energy giant’s shares and the Obama administration said it opened a criminal investigation. President Barack Obama, struggling to get on top of the worst oil spill in [...]

ExxonMobil Royal Dutch Shell company Infineum cited for safety violations at Linden facility

The Star-Ledger – NJ.com: ExxonMobil and Shell subsidiary in Linden cited by OSHA for chemical hazards By Abby Gruen/The Star-Ledger June 01, 2010, 2:57PM File photo of Infineum worker Emil Wachter standing near a pipe rack at the company’s Linden facility on August 12, 1999. The U.S. Department of Labor’s Occupational Safety and Health Administration [...]

Wounded BP ripe for merger or outright takeover?

BEACON EQUITY RESEARCH Jun 01, 2010 Takeover of BP Fraught with Too Much Incalculable Liability Risk BP’s tragic blunder in the Gulf and overall selloff in global equities have investors in the international oil giant seeing red, with shares of BP plunging 25% since April 20 and recent speculation the company is ripe for merger [...]

Mega Merger: Shell would love to get hold of BP’s hydrocarbon reserves

Posting By Wilt Staph “BP’s name is now so politically compromised that only the bravest company would want to take them over,” James Batty, Editor of Energy Intelligence Finance, an oil industry newsletter, said. ———————————————————————————– Complete and utter nonsense! Any takeover would acquire tangible assets which are of huge value. There would be no need [...]

BP Shares Plunge 13% on ‘Top-Kill’ Failure

THE WALL STREET JOURNAL June 1, 2010, 9:53 AM GMT? By Steve Goldstein, London bureau chief for WSJ.com’s MarketWatch BP’s failed attempt at pouring thousands of barrels of mud to plug the worst oil spill in U.S. waters sent shares of the London-listed oil giant down by 13% in early trade Tuesday. Tuesday’s decline alone [...]