Well, we've heard just about everything about BP (NYSE:BP), but now they are under investigation by U.S. authorities for insider stock trading among its employees. This is just one of many parallel investigations currently underway.
Since the suspicions arose, The Department of Justice and the Securities and Exchange Commission have been looking into the allegations. It's being said that there were BP insiders who had access to knowledge about the company's plans.
This knowledge for the oil cleanup and spill containment efforts were than used to cash in by trading shares. It's also being said that this information was leaked to others outside of the company.
Meanwhile, BP continues forward with its "static kill" attempt. The company is still optimistic that the relief wells will be finished by the end of this month. While the federal government has increased their estimate to almost 5 million barrels of oil that has polluted the Gulf. That's more than 12 times what BP was originally estimating.
Showing posts with label Trading Shares. Show all posts
Showing posts with label Trading Shares. Show all posts
Wednesday, August 4, 2010
Tuesday, July 13, 2010
BP (NYSE:BP) UPDATE: Sealing Cap Installed, Trading Shares, Futures Trading
After much anticipation, BP (NYSE:BP) has verified that they have been successful in installing the sealing cap onto the leaking Macondo well in the Gulf. Testing is the next phase of the process. Over the next 48 hours the integrity test will be preformed. If successful, no oil will be released into the ocean.
BP stated that a sealing cap like what they have installed, has never before been used at such depths as a mile below the surface. It is unsure if the cap will be able to contain the oil and gas. Once all the information is gathered from the testing, it will get forwarded to different U.S. Government agencies for review.
They will than be able to determine "the way forward" which may include such options as continued testing beyond the 48 hours, or the reinstatement of prior containment. Everything is still up in the air, even though there's success of the placement of the sealing cap, it could end up being no better then the previous containment cap.
BP trading shares have seen an incline again today of 2.5 percent. This is caused by speculation of the continued negotiations to sell $10 billion worth of their Alaskan assets to Apache Corporation. It leaves one wondering though, if the cap is a failure will the futures trading see another massive decline ?
BP stated that a sealing cap like what they have installed, has never before been used at such depths as a mile below the surface. It is unsure if the cap will be able to contain the oil and gas. Once all the information is gathered from the testing, it will get forwarded to different U.S. Government agencies for review.
They will than be able to determine "the way forward" which may include such options as continued testing beyond the 48 hours, or the reinstatement of prior containment. Everything is still up in the air, even though there's success of the placement of the sealing cap, it could end up being no better then the previous containment cap.
BP trading shares have seen an incline again today of 2.5 percent. This is caused by speculation of the continued negotiations to sell $10 billion worth of their Alaskan assets to Apache Corporation. It leaves one wondering though, if the cap is a failure will the futures trading see another massive decline ?
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