Stock Market Today » BP

Gulf oil spill reaches Texas shore

TonyLiu — Tue, 06 Jul 2010 04:03:58 +0000

U.S. officials confirmed Monday that tar balls from the Gulf oil spill have reached the shore of Texas, the first evidence that the spill has reached all five U.S. Gulf states.

The Texas General Land Office confirmed the tar balls found along the shores of Crystal Beach on Bolivar Peninsula, Texas, are from the Gulf spill, according to local TV channel Khou.

Tar balls have also been reportedly found on the west tip of Galveston Island, Texas, but officials did not confirm that the balls are also from the spill.

Texas Land Commissioner Jerry Patterson said crews were removing tar balls found on the Bolivar Peninsula and Galveston Island on Sunday.

State officials performed tests on samples collected from the tar balls and concluded that the oil was from the Gulf spill, after hearing reports of tar balls washing up on beaches in Texas over the weekend.

Texas Governor Rick Perry said Monday that his office will take steps to handle the situation and try to reduce the impact of the oil on the state’s beaches.

BP’s market value has evaporated more than 100 billion u.s. dollars within 2 months

TonyLiu — Tue, 29 Jun 2010 06:03:59 +0000

British Petroleum shares fell by 9% in London on June 25^th, it makes shrinking market rate of the company has expand. Since the oil spill in the U.S. Gulf of Mexico, BP’s share price had fallen by more than 100 billion U.S. dollars.
Nomura Holdings in its latest research report that the financing capacity of BP may be affected, because the problem of the oil well continues to leak. In addition, analysts suggest the British oil company to sell shares to enable those institutions who provide funds can rest assured that their financial health.
U.S. Coast Guard has said that sealing staff of the evacuation plan leave BP oil equipment out, as there will be a tropical storm arrive in the sea near the place where the oil spill took place, the Coast Guard said the storm would “effectively” lead to disruption of oil collection at least 14 days, the drilling ship will leave and 1,800 staff will be evacuated after storm approaching.

The latest news about BP

TonyLiu — Sat, 19 Jun 2010 03:23:30 +0000

BP PLC (BP, BP.LN) Friday night reported that its rate of oil recovery from a huge oil leak in the Gulf of Mexico continued to move higher as it optimizes its collection system.

The company, which has been collecting and more recently flaring oil spewing from a broken deep-sea well, said that in the first 12 hours of Friday it had collected 8,320 barrels of oil and flared 4,950 barrels, for a total of 13,270 barrels. That represents an increase of half-day rates for collection and flaring of 3.2% and 3.8%, respectively, compared with the previous 12 hours.

A team of scientists this week estimated about 35,000 to 60,000 barrels are flowing from the broken well every day.

The company has been under intense pressure to successfully contain the spewing oil, which began in April when a deepwater drilling rig exploded and sank. The company’s repeated failures at a temporary solution to patch the leak heightened scrutiny of its response, and it is still working on a permanent fix to the well.

Earlier Friday, the minority partner in the well, Anadarko Petroleum Corp. ( APC), blamed BP for the disaster, accusing it of “gross negligence and willful misconduct.” BP rejected the allegations.

BP shares were down 0.8% at $31.52 after hours. The stock has fallen 45% since the beginning of the year in the midst of the Gulf crisis.