Oil washes onto Mississippi coast for first time $BP #BP

* Mississippi's mainland had escaped oil from BP spill
* Oil hits two tourist beaches, more expected
* Local frustration as no immediate clean-up (Updates with quotes, details)
OCEAN SPRINGS, Miss., June 27 (Reuters) - Large patches of thick oil from the BP Plc Gulf of Mexico spill washed ashore for the first time in Mississippi on Sunday and residents were outraged that authorities did not clean it up.
Hundreds watched as gluey gobs of brown oil and rainbow oil sheen sloshed onto tourist beaches at Ocean Springs, about 10 miles (16 kilometres) east of Biloxi, and at a beach used by fisherman that is close to an inland marsh.
"This might be the last time we are able to come to the beach. What makes us so mad about all of this is that it could have been avoided. All of it," said James Vogeney, 56, who grew up in Ocean Springs.
"Life as I know it is over. What are we going to do if nobody cares to act fast enough," said Mike Hollings, a local resident who cried as he stared at the oil on the beach.
Wildlife officials picked up one pelican covered in oil and one dead turtle.
Mississippi state officials and the U.S. Coast Guard, who said they were expecting more oil to arrive, were waiting for BP contractors to start cleaning up before beginning coordinated work.
"We cannot clean up or catch the oil until BP gets here. They have all of our people," said Earl Etheridge, a spokesman for Mississippi's Department of Environmental Quality. "We want to clean this up now. Maybe this will amp up BP's effort but we can't do anything because they have all the money."
Later, a Reuters reporter visited seven beaches affected by the oil and saw only one clean-up crew at work.

Energy-Energy was one of the worst sectors in the market on weakness across the board despite flattish crude.$XLE

· Energy was one of the worst sectors in the market on weakness across the board despite
flattish crude.

· Integrateds were off around 5%, led lower by BP which now sits around a 14-year low after falling over 9% this week. A lot of noise came out on BP / Gulf but in the end it’s a lot of the same…the spill is still ongoing, Obama is still looking to come down harshly on BP, and there is still uncertainty over BP’s future.

BP's Gulf well holds enough oil to spew out for two years, claim experts $BP #BP

BP's out-of-control well will go on spewing oil into the Gulf of Mexico for the next two years or more if all attempts to contain or plug the gusher fail, oil industry experts said today. The estimates, based on new figures supplied by BP's chief executive, Tony Hayward, during seven contentious hours of testimony to Congress on Thursday, suggest the potential environmental and economic devastation would far outstrip the damage done so far by the ruptured well, which has been spewing for 60 days. Hayward told a Congressional committee on Thursday the reservoir still held 50m barrels, providing fresh urgency to efforts to contain the oil, or seal off the gusher completely with a relief well. Using the government's present flow estimates of up to 60,000 barrels a day, BP's well could go on gushing for two to four years, unless it is stopped. BP and the administration say they are containing a rising share of the oil from the well, and hope to plug the gusher completely by August, when two relief wells will be complete. BP said today that the relief wells were within 60 metres of the ruptured

$BP 'to divest all North Sea assets' in dramatic attempt to reduce its costs Oil company is looking to axe £9.5bn in spending in order to sustain profitability

BP 'to divest all North Sea assets' in dramatic attempt to reduce its costs Oil company is looking to axe £9.5bn in spending in order to sustain profitability amid the costs of the US oil spill Embattled BP is to cut costs by $14bn (£9.5bn) in six months as part of a radical plan to sustain profitability in the wake of the explosion at its Deepwater Horizon oil rig that has led to the worst spill in US history. Well-placed City sources say that BP is planning to sell its remaining North Sea interests as well as stakes in dozens of exploration and production projects where it does not exercise overall control. The board will also consider whether to sell its 1.4% stake in Rosneft, Russia's largest oil company, which it acquired at the time of Rosneft's 2006 flotation for $1bn. But there is no question of BP selling out of its Russian joint venture with TNK, as that operation accounts for 25% of its worldwide resources and around 10% of profits. BP's British and European assets account for little more than 4% of its

Tony Hayward cashed in about a third of his BP stock one month before the Deepwater Horizon rig burst $BP (He must Be Irish Thats good Luck)

Goldfarb Branham Law Firm Investigating Claims for Shareholders of BP DALLAS, Jun 16, 2010 (BUSINESS WIRE) -- Goldfarb Branham -- a national securities law firm -- is investigating claims for shareholders of BP (NYSE: BP) (LSE: BP) due to the company's well-publicized and repeated safety lapses. Concerned shareholders are urged to contact attorney Hamilton Lindley at 877-583-2855 or by email at hlindley@goldfarbbranham.com to pursue a claim. BP has a history of spills, fires and explosions at its facilities. Before the Deepwater Horizon rig presumably killed 11 and filled the Gulf of Mexico with oil, BP had a 2005 explosion in Texas City, Texas, that killed 15 people, and a 2006 oil leak in its Prudhoe Bay, Alaska, operations pipeline. BP stock plummeted 50% since the Gulf of Mexico spill -- losing $90 billion in shareholder value. However, BP CEO Tony Hayward cashed in about a third of his BP stock one month before the Deepwater Horizon rig burst, according to The Daily Telegraph. Today, BP executives met with President Barack Obama to discuss setting aside approximately $20 billion to pay victims of the spill. Goldfarb Branham's lawyers have an outstanding reputation for complex litigation and experience in precedent setting securities fraud cases that have resulted in substantial recoveries for shareholders. If you purchased BP stock before May 12, 2010, contact attorney Hamilton Lindley at 877-583-2855 or hlindley@goldfarbbranham.com. The firm is not afraid to give advice, stand by it, and go to court to get results. SOURCE: Goldfarb Branham LLP CONTACT: Goldfarb Branham LLP Hamilton Lindley, 214-583-2233 Toll Free: 877-583-2855 Fax: 214-583-2234