BP p.l.c. , Europe's largest oil company, has spent $ 1,000,000 a week of advertising in the wake of the Gulf of Mexico oil spill in an attempt to repair its badly damaged public image.
That figure includes radio and TV ad buys. BP is expected to detail their expenses post-stroke in his testimony before the House Energy and Commerce Committee on Monday.
Both companies have suspended dividends this year in an effort to save cash for spill-related expenses.
BP Internal Report Looks Like Bad News, The report does say that BP is, at least in part, repsonsible for the explosion, but Transocean (NYSE: RIG), the rig's owner, also shares some responsibility, the report said.
By the way, BP CEO Bob Dudley says BP officials will meet with representatives of Alabama Governor Bob Riley and Attorney General Troy King on Monday to discuss the state's $148 million claim against BP for the Gulf oil spill.
To repair highly damaged public image, BP Spends $1M Per Week On Advertising
Sunday, August 29, 2010
BP Stocks news(AUGUST 11, 2010)
Wednesday, August 11, 2010
SPANISH FORT, Ala. — BP PLC announced Today the first $3 billion of an eventual $20 billion escrow account has been deposited in a trust to pay legitimate claims stemming from the April 20 Deepwater Horizon incident.
Alabama, Florida, Mississippi and Louisiana have all called on BP to fund mental health care. And Louisiana advised the Department of Health and Human Services last month that it was encountering "increases in anxiety, depression, stress, grief, excessive and earlier drinking and suicide ideation."
U.K. oil giant BP PLC (BP) has pushed back the start of its exploration for oil in deep water offshore Libya for an unspecified period of time to ensure all its plans are in order, but the company and the Libyan authorities insist the drilling will be safe.
BP said it will proceed with its first deep water well offshore Libya some time later this year. However, amid fears in Europe that an accident similar to the oil leak in the Gulf of Mexico could trigger an ecological disaster in the Mediterranean.
With no oil to fight in South Florida, BP has begun downsizing its Miami operations center. It's giving up one high-rise office near Brickell Avenue and isn't sure how long it will keep a lease on another.
Reporting from Atlanta and Los Angeles — The effort to permanently kill BP's troubled gulf well, originally scheduled for the end of this week, has been delayed several days by the approach of a tropical storm system, officials said Tuesday.
Alabama, Florida, Mississippi and Louisiana have all called on BP to fund mental health care. And Louisiana advised the Department of Health and Human Services last month that it was encountering "increases in anxiety, depression, stress, grief, excessive and earlier drinking and suicide ideation."
U.K. oil giant BP PLC (BP) has pushed back the start of its exploration for oil in deep water offshore Libya for an unspecified period of time to ensure all its plans are in order, but the company and the Libyan authorities insist the drilling will be safe.
BP said it will proceed with its first deep water well offshore Libya some time later this year. However, amid fears in Europe that an accident similar to the oil leak in the Gulf of Mexico could trigger an ecological disaster in the Mediterranean.
With no oil to fight in South Florida, BP has begun downsizing its Miami operations center. It's giving up one high-rise office near Brickell Avenue and isn't sure how long it will keep a lease on another.
Reporting from Atlanta and Los Angeles — The effort to permanently kill BP's troubled gulf well, originally scheduled for the end of this week, has been delayed several days by the approach of a tropical storm system, officials said Tuesday.
No plans to buy BP's German assets,Rosneft says
Monday, August 2, 2010
Russia's largest oil producer Rosneft said on Monday it has no plans to acquire downstream assets of BP in Germany.
On Saturday, German magazine Wirtschaftswoche said that BP Plc (BP.L: Quote) is seeking to sell its German petrol station chain Aral for around 2 billion euros ($2.6 billion), and that Rosneft was among possible buyers.via reuters.com
Kuwait Fund Denies It Was Offered Chance to Raise BP Stake
Kuwait's sovereign wealth fund denied a report that it had been offered the opportunity to raise its stake in BP (BP). Newspaper Al-Anba published a story saying BP's outgoing CEO Tony Hayward asked the Kuwait Investment Authority to up its stake to 3% to help protect the company from takeover bids, Bloomberg News reported.
The Kuwait Investment Authority received no such offer, the wealth fund said in e-mailed statement. Last month, another Kuwaiti newspaper published a story saying that Kuwait may purchase some BP assets in the Middle East and Asia, Reuters said.
On Saturday, German magazine Wirtschaftswoche said that BP Plc (BP.L: Quote) is seeking to sell its German petrol station chain Aral for around 2 billion euros ($2.6 billion), and that Rosneft was among possible buyers.via reuters.com
Kuwait Fund Denies It Was Offered Chance to Raise BP Stake
Kuwait's sovereign wealth fund denied a report that it had been offered the opportunity to raise its stake in BP (BP). Newspaper Al-Anba published a story saying BP's outgoing CEO Tony Hayward asked the Kuwait Investment Authority to up its stake to 3% to help protect the company from takeover bids, Bloomberg News reported.
The Kuwait Investment Authority received no such offer, the wealth fund said in e-mailed statement. Last month, another Kuwaiti newspaper published a story saying that Kuwait may purchase some BP assets in the Middle East and Asia, Reuters said.
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