gulf

gulf

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

Posted on: June 1, 2010

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 Deepwater Horizon drilling rig leased by the company exploded on April 20, wiping more than 40 billion pounds ($58 billion) from the company’s value. That may make BP cheap enough to attract...

June

2010

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Obama takes ownership of BP spill

Posted on: May 27, 2010

WASHINGTON – President Barack Obama maintains he is in charge of efforts to shut down what is now estimated as the worst oil spill in US history, but admits the government doesn’t have the technology or expertise and must rely on oil giant BP. Obama seized ownership of what he called a “tremendous catastrophe,” after weeks allowing Cabinet members take the public lead as the crippled BP PLC well spewed millions of...

May

2010

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