Wednesday, June 30, 2010

$BP forced to leverage balance sheet for loans to gas station partners , Hurricane Alex new blow to oil spill efforts

· BP – Small Business Hearing @ 10amET on Wed; K Feinberg will be speaking at this hearing. 

· New deepwater drilling ban could come today – Interior Sec Salazar is scheduled to appear before the House Natural Resources Committee on the reorganization of the former Minerals Management Service (MMS); Salazar could provide details on what a new ban would look like – Bloomberg 

· BP is lending some support to its station partners in the US – stations will be given more cash, reductions in credit card fees, and help w/national advertising (AP) 

· BP – WSJ profile of the co + CEO Hayward – the article again criticizes the firm’s safety record.  WSJ heads for 1st quarterly drop since 2008 – Oil is heading for its first quarterly drop since 2008 as risk aversion over the Euro area debt crisis outweighed rising demand in the United States and China. Reuters

· Hurricane Alex new blow to oil spill efforts – This year’s first Atlantic hurricane is hampering clean up efforts of BP’s oil spill and delaying plans to increase containment capacity. The storm is on trade to make landfall near the Texas-Mexico border late on Wednesday. Reuters

· Obama, senators discuss energy bill – President Obama and lawmakers were unable to get agreements to put a price on carbon pollution. Reuters

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