Showing posts with label BP. Show all posts
Showing posts with label BP. Show all posts
Friday, July 16, 2010
THE GUARDIAN: It's a great shame a public figure like David Laws still felt a need to hide his sexuality as I once did
It was in New York in 1973 that I discovered the work of the Greek poet CP Cavafy. He was gay and in the closet. His only outlet of self-expression was his poetry. He wrote: "From all the things I did and all the things I said let no one try to find out who I was … Later, in a more perfect society, someone else made just like me is certain to appear and act freely." I wanted to agree with that but never thought it would apply to me.
In 2007 I resigned as chief executive of BP because I had made an untrue statement as to how I had met a boyfriend with whom I had broken up after an extended affair. He had sold his embellished tale to the Mail on Sunday. I attempted to keep it from publication, and in doing so I told a fabricated story (that I had met him running in Battersea Park, rather than through an escort agency) because I felt threatened about coming out. It was the same fear that had prevented me from going out to meet men in the usual way at parties, clubs and so on.
My chief worry now is that history seems bound to repeat itself. The recent resignation of David Laws, the former chief secretary to the Treasury, suggests that public figures continue to feel they have no choice but to cover up their sexuality.
When I was "outed" on someone else's terms it was an important and terrifying moment. But it also turned out to be a blessing. I was overwhelmed by the support and friendship of many people. Three years on, my life is much happier. I have a great partner and I feel much more relaxed about being open with people. I wish it could have been that way from the start. Continue reading and comment >>> John Browne | Thursday, July 15, 2010
Labels:
BP,
Lord Browne,
out of the closet
THE TELEGRAPH: Barack Obama has warned that the BP oil disaster in the Gulf of Mexico is not over.
Although oil has stopped leaking into the ocean, the US President has urged Americans not to "get too far ahead of ourselves".
BP announced on Thursday evening that it had successfully capped the Deepwater Horizon oil well for the first time since April.
Underwater video footage showing no oil gushing from the well has led to widespread relief across America.
Speaking outside the White House, Mr Obama said that although the worst of the crisis was probably now in the past it would be several more weeks before it was finally over. Tests will continue for the next 24 hours to establish whether the cap will hold. >>> Robert Winnett in Washington | Friday, July 16, 2010
Labels:
Barack Hussein Obama,
BP
Thursday, July 15, 2010
THE TELEGRAPH: BP is facing fresh scrutiny into whether it was involved in the release of the Lockerbie bomber Abdelbaset Ali Mohmet al-Megrahi, after the oil giant admitted lobbying the British government over a prisoner agreement with Libya.
BP said it pressed for a deal over the controversial prisoner transfer agreement (PTA) amid fears any delays to negotiations would damage its “commercial interests” and disrupt its £900 million offshore drilling operations in the region.
But it denied claims that it had been involved in negotiations concerning the release of Megrahi, the Lockerbie bomber freed by Scottish authorities last year.
The admission came just hours after Hillary Clinton, the US Secretary of State, pledged to investigate allegations of BP's involvement in his release ahead of its planned new drilling in Libya.
It followed a letter from four US senators who had accused the company of having a hand in the release of Megrahi, who was released last year by the Scottish government on "health grounds" and compassionate grounds.
Mrs Clinton’s intervention came after the American Democratic senators called for an investigation into BP’s interests in Libya, as they tried to connect the oil group with a deal to free the convicted terrorist.
In a statement issued on Thursday, the company admitted it had lobbied the British Government over the controversial prisoner deal but denied any involvement in Megrahi’s release.
“It is matter of public record that in late 2007 BP told the UK Government that we were concerned about the slow progress that was being made in concluding a prisoner transfer agreement with Libya,” the company said in a statement.
“We were aware that this could have a negative impact on UK commercial interests, including the ratification by the Libyan Government of BP's exploration agreement.”
But a spokesman added: “The decision to release Mr al-Megrahi in August 2009 was taken by the Scottish Government. >>> Andrew Hough | Thursday, July 15, 2010
Related video here
Tuesday, July 06, 2010
FRANKFURTER ALLGEMEINE ZEITUNG: Der Börsenwert hat sich halbiert, die Kosten der Ölpest summieren sich bislang auf 3,12 Milliarden Dollar: BP ist angeschlagen. Die britische Regierung fürchtet angeblich einen Zusammenbruch des Konzerns - ein Risiko, weil viele Rentenfonds betroffen wären. Derweil prüfen arabische Staatsfonds einen Einstieg.
Investoren aus dem Nahen Osten erwägen Medienberichten zufolge, dem angeschlagenen britischen Energiekonzern BP mit einer Kapitalspritze zur Seite zu springen. Die Londoner Zeitungen „Daily Telegraph“ und „Guardian“ berichteten am Montag übereinstimmend, der Golfstaat Kuweit prüfe, seine Beteiligung an dem britischen Energiekonzern von bislang 1,75 Prozent auf 10 Prozent aufzustocken. >>> | Dienstag, 06. Juli 2010
THE TELEGRAPH: Libya has expressed an interest in building a stake in BP, describing the oil company as a bargain following its Gulf of Mexico oil spill.
Share[s] in BP rose 3.5pc to 333.3p in London, following weekend speculation that the company had been in contact with sovereign wealth funds about them buying stakes.
Shokri Ghanem, the chairman of Libya's National Oil Corporation, told a newswire that: "BP is interesting now with the price lower by half and I still have trust in BP. I will recommend it to the Libyan Investment Authority."
He later added: "I think that BP shares are good value for bargain hunters,"
BP denied that it was planning to issue any new equity, but a weighty shareholder buying up stock on the open market could still help provide a floor on the company's plummeting share price. It declined to comment on any talks with sovereign wealth funds.
The oil giant has lost half of its market value since the Deepwater Horizon rig exploded and sank on April 20, triggering a catastrophic leak. Qatar, Abu Dhabi and the Kuwait Investment Authority, which already holds 1.8pc of BP, have also been linked to the company as possible investors. >>> Rowena Mason | Monday, July 05, 2010
Monday, June 28, 2010
Saturday, June 19, 2010
THE TELEGRAPH: BP chief executive Tony Hayward has come under fire in the US for taking a break from the Gulf oil clean-up to watch his boat sail in a yacht race off the Isle of Wight.
In a statement, BP described the outing as "a rare moment of private time" and said that "no matter where he is, he is always in touch with what is happening within BP" and can direct recovery operations if required.
But Mr Hayward, who has come under fire for verbal gaffes that some said suggested he was tone-deaf to the mood in America, was immediately criticised in the US.
Rahm Emanuel, chief of staff to President Barack Obama, said it was another “gaffe” by the BP chief executive. “Well, to quote Tony Hayward, he’s got his life back, as he would say,” he told ABC television. “And I think we can all conclude that Tony Hayward is not going to have a second career in PR consulting. This has just been part of a long line of PR gaffes and mistakes.”
He added: “There’s really a substance here that matters. That’s clearly a PR mistake, but he’s made a number of those mistakes. What’s important is: are we capping the well? Are we capturing the oil? Are we containing the cleanup? Are we filing the claims? Are we also cleaning up the mess? That’s what’s important.”
Richard Shelby, Republican senator for the Gulf state of Alabama, said during a tour of areas affected by the spill: "People here are not on their yachts today.
"I believe it's the height of arrogance. He is the chief executive of BP, he was testifying in Washington and now he's going out on his yacht in England. That yacht should be here, skimming and cleaning up the oil." >>> Philip Sherwell | Saturday, June 19, 2010
Labels:
BP,
Gulf of Mexico
THE TELEGRAPH: Oil giant BP came under further pressure on Saturday after one of its partners said the company's "gross negligence or wilful misconduct" were to blame for the disastrous oil spill in the Gulf of Mexico.
Anadarko Petroleum, which owns a quarter of the ruptured Deepwater Horizon well, has refused to accept any blame for the explosion that killed 11 workers and sparked America's worst environmental disaster.
The company's chairman and chief executive Jim Hackett insisted in a statement that BP should foot the entire bill for the environmental and economic damage caused by the blow out.
Mr Hackett said: "Frankly, we are shocked. BP's behaviour and actions likely represent gross negligence or wilful misconduct."
He said that "mounting evidence clearly demonstrates" that the disaster that led to the explosion and sinking of a drilling rig and the deaths of 11 workers "was preventable and the direct result of BP's reckless decisions and actions." >>> Patrick Sawer | Saturday, June 19, 2010
Labels:
BP,
Gulf of Mexico
Friday, June 18, 2010
THE TELEGRAPH: Russian President Dmitry Medvedev has expressed concerns that the massive Gulf of Mexico oil spill could lead to the "annihilation" of BP.
Mr Medvedev stopped short of saying the disaster would prompt a review of Russia's partnership with BP, but he said: "This is a wake-up call."
"Certainly, we are not indifferent to their future... Hopefully, they can absorb the losses," he told the Wall Street Journal.
BP shares, which have fallen around 46pc since the spill began, rose 4.5pc in early tradiing on Friday.
BP is present in Russia through TNK-BP, the third largest oil producer in the country, accounting for roughly a quarter of BP's global production. It owns half of TNK-BP and the other half is owned by Alfa Access-Renova, a consortium of Russian businessmen.
When asked how the oil spill would affect Russia's view of BP as a partner, he said: "What I know is that BP will have to pay a lot of money this year.
"Whether the company can digest those expenditures, whether they will lead to the annihilation of the company or its breakup into pieces is a matter of expediency."
Mr Medvedev's comment come as estimates of the damage caused by the US's biggest environmental accident spiral[.] >>> | Friday, June 18, 2010
THE WALL STREET JOURNAL: ST. PETERSBURG, Russia—Russian President Dmitry Medvedev expressed doubts about the future of Europe's common currency and said the Gulf of Mexico oil spill could threaten the survival of BP PLC.
Asked whether Europe's debt turmoil could threaten the euro, Mr. Medvedev said, "I don't exaggerate the threat, but it can't be underestimated."
The Russian president didn't rule out financial assistance to struggling European nations, but said the European Union should bear the burden of any major "financial injections."
"Russia's prosperity, to a large extent, depends on how well things are going on the European continent," Mr. Medvedev said in an interview with The Wall Street Journal. "We are not a member of the EU, but we are a European country."
On the eve of his first state visit to the U.S. next week, Mr. Medvedev also questioned whether the Gulf oil spill might lead to the "annihilation" or breakup of BP, as the company faces billions of dollars in losses from the disaster.
He stopped short of saying Russia would re-evaluate BP's lucrative partnership in Russia, which represents almost a quarter of its oil production, but predicted the spill will prompt a fundamental rethinking of oil exploration around the world.
"This is a wake-up call," Mr. Medvedev said. Of BP's fate, he added: "Certainly, we are not indifferent to their future. ... Hopefully, they can absorb the losses." >>> Gregory L. White, Robert Thomson, and Rebecca Blumenstein | Friday, June 18, 2010
Thursday, June 17, 2010
THE TELEGRAPH: BP’s chief executive Tony Hayward has been subjected to a blistering attack by US Congressmen over the Gulf of Mexico oil spill, who accused the company of “astonishing complacency”.
The boss of the oil giant was appearing before an influential committee a day after pledging a £13.5bn compensation fund to make amends for the Gulf of Mexico oil spill.
Britain’s largest firm was condemned for increasing the risk of a “catastrophic blowout” by cutting “corner after corner”. It was accused of having a “cavalier attitude towards risk”.
Mr Hayward was singled out for failing to ignore warnings signs before the fatal rig explosion, which left 11 people dead and hundreds of thousands of barrels of oils spewing into the Gulf. BP has failed to contain the leak despite numerous attempts.
Henry Waxman, a California Democrat known as one of the toughest investigators in Congress, told Mr Hayward: “There is not a single email or document that shows that you paid even the slightest attention to the dangers at this well.
“There is a complete contradiction between BP’s words and deeds. You were brought in to make safety the top priority of BP, but under your leadership, BP has taken the most extreme risks.”
In a pointedly nationalist remark, Bart Stupak, from Michigan, said that while Mr Hayward could take “a golden parachute back to England, we in America are left to recover for years from the disaster”. >>> Alex Spillius, in Washington | Thursday, June 17, 2010
It really is difficult to see how Tony Hayward can remain in his position as BP’s chief executive. The buck stops with him. If the man had any honour, he’d resign; and without the golden parachute that these people have come to expect in recent years. The company, BP, has fouled up under his watch. The consequences should be faced. – © Mark
Labels:
BP,
Gulf of Mexico
Labels:
BP
Labels:
BP
Labels:
BP,
Capitol Hill
FOX NEWS: In a congressional hearing Thursday that some have described as a public execution, BP chief executive Tony Hayward told Congress that he is "deeply sorry" for the oil disaster in the Gulf of Mexico.
Hayward's testimony came after members of the House Energy and Commerce Committee's oversight and investigations subcommittee took turns in a long-awaited public flogging intended to capture the outrage of the nation.
Hayward sat grim-faced before the panel, which is investigating the explosion that killed 11 workers and unleashed a flood of oil that has yet to be stemmed.
Lawmakers accused Hayward, who has come to represent charges of corporate arrogance and greed, of being oblivious to the risks of the company's deepwater operations.
Some of the sharpest criticism came from Rep. Bart Stupak, D-Mich.
"We are not small people. But we wish to get our lives back," he told Hayward. "I'm sure you'll get your life back, and with a golden parachute to England."
It was a reference to Hayward's much-criticized earlier remark that some day he hoped to get "my life back" and to comments on the White House driveway on Wednesday by BP Chairman Carl-Henric Svanberg that "we care about the small people" of the Gulf Coast.
Hayward sipped a beverage and jotted notes as one lawmaker after another scorched him. Read on and comment >>> | Thursday, June 17, 2010
The Associated Press contributed to this report.
Labels:
BP,
Congress,
Gulf of Mexico
THE TIMES: BP’s chairman was forced into a new apology after calling those affected by the Louisiana oil spill “the small people”.
Hours after saying sorry for the worst oil spill in American history, Carl-Henric Svanberg was again apologising for what he admitted was “clumsy” wording. The latest misfortune came after BP had been forced into suspending dividends to shareholders and setting aside $20 billion (£14 billion) for compensation claims.
Carl-Henric Svanberg said that he was very sorry after he had earlier remarked: “I hear comments sometimes that large oil companies are greedy companies or don’t care, but that is not the case with BP. We care about the small people.” Read on and comment >>> Susan Thompson, Catherine Philp, Giles Whittell, Washington | Thursday, June 17, 2010
Labels:
BP,
Gulf of Mexico
Wednesday, June 16, 2010
LOS ANGELES TIMES: Reporting from Washington -- The Obama administration has reached a preliminary agreement with BP executives that would see the oil company pay $20 billion over several years into an independently controlled escrow account to be established to compensate Gulf of Mexico residents affected by the disastrous oil spill, and BP's board of directors has eliminated the company's stock dividend, at least temporarily.
The agreement on the escrow was negotiated in a meeting at the White House on Wednesday morning, the first face-to-face gathering between President Obama and senior BP leadership. A White House official said that, under the terms of the deal, the fund would be administered by attorney Kenneth Feinberg, currently serving as the special master for executive pay under the Troubled Asset Relief Program. Feinberg ran a fund that compensated victims of the terrorist attacks of Sept. 11, 2001.
Immediately after the meeting, BP Chairman Carl-Henric Svanberg said that the oil company's board of directors has decided not to pay any more dividends this year. >>> Mike Memoli and Peter Nicholas | Wednesday, June 16, 2010
THE TELEGRAPH: President Barack Obama has vowed to "make BP pay" for not only the multi-billion dollar clean-up of the Gulf of Mexico but also the restoration of the region's economy, undertaking to force the British oil giant to set aside the money he believes it owes as "a result of [its] recklessness."
The US President, in his fiercest rebuke against the company in the 58 days since the Deepwater Horizon rig explosion 40 miles off the coast of Louisiana causing the catastrophic oil spill in the Gulf, promised to get tough with BP and to ensure that it meets all costs he believes it should pay.
In a direct attack on the company's dividend policy, Mr Obama said that BP must place the money needed to cover the as-yet unquantifiable costs in an independent "escrow" account to be run by a third party.
The staunch words – which came in Mr Obama's first national address from the historic Oval Office in the 18 months since he took office – came ahead of his crucial meeting with Carl-Henric Svanberg, BP's chairman, and Tony Hayward, its chief executive, at the White House later today.
"We will make BP pay for the damage their company has caused", he promised the millions of Americans who were expected to watch the televised prime-time address.
"I will meet with the chairman of BP and inform him that he is to set aside whatever resources are required to compensate the workers and business owners who have been harmed as a result of his company's recklessness," he continued.
"This fund will not be controlled by BP. In order to ensure that all legitimate claims are paid out in a fair and timely manner, the account must and will be administered by an independent, third party." >>> James Quinn, US Business Editor | Wednesday, June 16, 2010
THE TELEGRAPH: It's not a sinecure after all, being chairman of an international oil company. Nobody blames Carl-Henric Svanberg for taking the job at BP – it was an honour to be asked, and lack of experience in the oil business did not prevent his predecessor, Peter Sutherland, coping with his own crisis well enough.
Unfortunately, Svanberg's crisis is of a different order. The fall of chief executive John Browne when Sutherland was chairman was awkward for BP; the gusher in the gulf is potentially life-threatening.
Svanberg has failed to provide leadership and public support for his CEO, Tony Hayward. He will have to go. There seems little prospect of Hayward keeping his job, either.
The BP directors have dithered about the dividend so long that they have lost control; the fate of the payout is now effectively in the hands of the US president. Read on and comment >>> Neil Collins, Reuters Breakingviews | Wednesday, June 16, 2010
*It seems to be a case of, tell lies, will rise! The unrelenting rise of the Bliar! I have an alternative suggestion: Put the man out to graze? He’s past his sell-by date. – © Mark
Labels:
BP,
Gulf of Mexico,
Tony Blair
Tuesday, June 15, 2010
THE TIMES: President Obama likened the impact of the oil spill disaster on the nation’s psyche to the September 11 terrorist attacks as he made his first multi-state tour yesterday of the Gulf of Mexico.
Facing questions about his leadership amid rising public anger 56 days after the Deepwater Horizon drilling rig exploded, he sought to reassert his authority by visiting Mississippi, Alabama and Florida, the states left out of three previous trips to the region.
Keen to dispel accusations that he has allowed BP to slacken in its efforts to stem the leak, Mr Obama noted that the company is now expecting to increase its containment capacity to 50,000 barrels a day two weeks sooner than planned. “We went back to them and said they needed to move faster and more aggressively and they have now come back with a plan,” he said.
The White House said it expected BP to place up to $20 billion in an escrow account to pay for the spill.
“One of the biggest leadership challenges for me going forward is going to be to make sure that we draw the right lessons from this disaster,” Mr Obama said in an interview with The Politico news website before he set off.
Vowing to move forward “in a bold way” with a clean energy policy that would help America to reduce its oil dependency, he added: “In the same way that our view of our vulnerabilities and our foreign policy was shaped profoundly by 9/11, I think this disaster is going to shape how we think about the environment and energy for many years to come.”
Mr Obama will address the nation from the Oval Office tonight, when he will announce new measures to help to restore the Gulf’s ecosystem. Tomorrow he meets BP executives for what the White House was keen to portray as showdown talks. Read on and comment >>> Jacqui Goddard, Orange Beach, Alabama | Monday, June 14, 2010
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