OIL giant BP was last night locked in last-ditch talks over a plan to rescue a multi-billion pound Arctic exploration and share-swap deal.
LIBYA'S rebel National Transitional Council will review the giant BP contract signed with Muammar Gaddafi in 2007 and may order it renegotiated or even cancelled if it decides the terms were unfavourable.
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OIL major BP's profits dipped in the first three months of 2011, hit by a rising bill for the Gulf of Mexico disaster and lower production after selling $24 billion (£14.5bn) of assets to pay for it.
BP's beleaguered shareholders received some cheer ahead of the firm's first quarter results this week as a US government report appeared to shift at least some of the blame for the Gulf of Mexico disaster on to rig operator Transocean.
Relatives flew over Gulf of Mexico waters where 11 oil rig workers died and residents gathered in prayer vigils to mark the first anniversary of the Deepwater Horizon disaster.
BP HAS marked the first anniversary of the massive Gulf of Mexico oil spill by filing lawsuits claiming its business partners caused the disaster.
OIL majors Shell and BP will announce similar first-quarter profit figures this week, but the shadow of the Deepwater Horizon disaster means they will be regarded very differently by investors.
The first anniversary of the deadly blast that led to ecological disaster in the Gulf of Mexico and bitter recriminations for oil giant BP was marked with a series of solemn events yesterday.
Families of the 11 men killed in the Deepwater Horizon oilrig disaster will today mark the first anniversary of their loss with a flyover of the Gulf of Mexico site where their loved ones died and the world's worst accidental marine spill began.
SOME of BP's biggest shareholders will press for the oil giant to ramp up its $30 billion (£18.4bn) asset disposal programme if the $16bn Arctic joint venture with Russian state-controlled Rosneft is derailed.
PROTESTERS were ejected from BP's annual general meeting after trying to storm the stage, where company bosses were awarding themselves six-figure bonuses.
OIL major BP is ensnared in the past, and struggling in the present. Yesterday the company's board endured a stormy AGM in London, as protesters from the Gulf of Mexico and Canada were embarrassingly ejected from the meeting.
OIL giant BP's share swap with Russian peer Rosneft was hanging in the balance last night amid reports that the British firm had broken off talks that could save the deal.
UNITED States interior secretary Ken Salazar yesterday rejected media reports that BP was striking a deal to resume deepwater drilling in the Gulf of Mexico, a year after the worst oil spill in American history.
Oil giant BP plans to restart deepwater drilling in the Gulf of Mexico this summer just a year after the Deepwater Horizon explosion that sparked the worst oil spill in history.
BP SHARES came under pressure yesterday after it was reported staff at the oil giant could face manslaughter charges over the Gulf of Mexico oil spill.
AN £8 million performance-related payout for Tony Hayward, who was ousted as chief executive of BP over the Gulf of Mexico spill, was yesterday branded as "wholly unacceptable" by an investor group.
OIL giant BP could be forced to spend more than £9 billion buying out its partners in Russian joint venture TNK-BP in order to force through its Arctic exploration deal.
Transport minister Keith Brown has said it is "extremely unlikely" that the Scottish Government will have to compensate BP for potential damage to its pipeline caused during construction of the new Forth Road Bridge.
BP's Russian joint venture TNK-BP wants to replace the British energy giant in the $16 billion share-swap deal between BP and Russia's Rosneft, it said yesterday following a board meeting in Berlin.