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BP share price up on FTSE 100 as spill clean up cost reaches $8 bln

Shares in BP were up on the FTSE 100 after the oil giant said that the cost of the oil spill in the Gulf of Mexico had risen by over $2 billion from last month to $8 billion.

New oil rig explosion in Gulf of Mexico five months after BP disaster

An oil platform in the Gulf of Mexico has suffered an explosion just five months after an explosion at BP's Deepwater Horizon rig led to a massive oil spill which cost the company billions of dollars and its CEO.

Tullow Oil share price down on FTSE 100 despite doubling H1 profits

Shares in Tullow Oil were down on the FTSE 100 in morning trading, despite the group more than doubling its profits in the half year ended 30 June.

Cairn Energy sees promise off Greenland; plans sale of oil-rich Rajasthan for $9.6 bn

Cairn Energy has found gas in unexplored shores on its first drill after agreeing to sell its assets in western Rajasthan for $9.6 bn to Vedanta Resources earlier this year. The resulting shift in focus from oil in Rajasthan to hydrocarbon off Greenland is hoped to develop new strategies for the company that made $76.1 million net loss in first half of 2009.

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Dana Petroleum share price down on FTSE 250 as Korean deal appears to sink

Shares in Dana Petroleum were down in afternoon trading on the FTSE 250 after it said it would not be supporting a £1.7 billion takeover bid from the state owned Korea National Corp (KNOC).

National Grid rises on FTSE 100 after GDF Suez / International Power acquisition

National Grid rises on FTSE 100 after GDF Suez / International Power acquisitionNational Grid is rising on the FTSE 100 today after the GDF Suez / International Power deal lifted both the Electricity and Gas, Water, Multiutilities sector.

Jean-François Cirelli, Vice-Chairman and President and Gerard Mestrallet, Chairman & Chief Executive Officer of French group GDF Suez

FTSE 100 rises on creation of GDF Suez / International Power

The FTSE 100 is rising today after GDF's long heralded deal with International Power - creating the world's largest station manager - is almost finished and could be formally announced shortly.

BP share price up on FTSE 100 as oil prices rise and leak is contained

Shares in BP were up in morning trading on the FTSE 100 as oil prices rose and the group said that it had effectively plugged the oil leak at the Macondo oil well in the Gulf of Mexico.

Analysis: New BP boss should boost safety, asset sales

BP share price halts losses after 'static kill' succeeds

BP shares stopped their early declines on the FTSE 100 today after it was announced that BP has successfully prevented the oil well from leaking, around three months and five million barrels of oil after the explosion which ruptured the Macondo well, and sent oil streaming into the Gulf of Mexico.

BP share price up on FTSE 100 after Colombian asset sale announced

Shares in BP rose on the FTSE 100 in afternoon trading following the oil giant's announcement that it had agreed to sell its oil and gas production and transportation business in Colombia, the BP Exploration Company (Columbia) (BPXC).

BP CEO Tony Hayward delivers his opening statement about the BP oil spill in the Gulf of Mexico at the House Energy and Commerce Committee on Capitol Hill in Washington, June 17, 2010.

Anger at BP as Tony Hayward refuses to 'take the blame'; final session

Anger at BP was growing amongst US congressman as the final session of the Chief Executive's hearing began.

BP CEO defends safety record; Second session

BP Chief Executive, Tony Hayward has expressed his desire to find out the cause of the explosion on Deepwater Horizon whilst defending the safety record of his company during his tenure as its CEO.

BP CEO apologises for oil spill; First session

BP Chief Executive Tony Hayward has apologised to a US subcommittee after a BP oil leak starting April 20 has caused untold damages to the Gulf of Mexico and its communities.

Obama tells BP to set aside an escrow account as tensions mount before meet

Barack Obama, president of the United States of America, is demanding BP pay up to $20 bn in damages as tensions between US and UK mount over the growing oil crisis.