BP Claims To Be Unaware Of Reason For U.S. Share Sell-Off

BP PLC says it isn't aware of any reason that justifies a sharp sell-off in its shares in U.S. trading.

In a statement released before the London Stock Exchange opened Thursday, the company underlines its strong financial position and says it has "significant capacity and flexibility" to deal with the cost of responding to the Gulf of Mexico oil spill.

BP shares tumbled to their lowest level in more than a decade on Wednesday in New York trade on fears the company won't pay out its planned dividends and wider speculation about the company's future. The stock recorded a smaller fall in London.

BP says it is keeping the market updated on the oil spill through regular announcements and says responding to the incident is its "top priority."

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  • by Stanley Location: Greenville on Jun 10, 2010 at 09:31 PM
    To OSOC, about 3-4 days after the Oil rig exploded, You were asked you to connect the dots between the oil spill, Haliburton and Dick Cheney. "YOU DID NOT RESPOND", why is that? Did you see (ABC'S) THIS WEEK? this past Sunday? Very interesting comments made by Liz Cheney and Arianna Huffington. Seems like someone else has already started connecting the dots for you. Politifact confirms Ms. Huffingtons comments. YOU GETTING THIS? http://www.politifact.com/truth-o-meter/statements/2010/jun/09/arianna-huffington/halliburton-kbr-and-iraq-war-contracting-history-s/
  • by Derek Location: Greenville on Jun 10, 2010 at 06:16 PM
    Just watching Maddow right now. Interesting story on how two high level Bush admins. (including CHENEY) are now working for BP, in the PR department. So in regards to your question OSOC, I am pretty sure Bush would do nothing as well, since all oilmen are in the business to make money. Guess who would have foot that bill to clean up that mess.....you and I....if Bush was still in office. Oh wait! Boehner just pushed a bill where we the taxpayers will continue to fund the gov't contract we gave to BP....you know who John Boehner is right? House Republican leader Boehner? http://thecaucus.blogs.nytimes.com/2010/06/10/boehner-on-who-must-pay-what-for-spill/ - well OSOC, I think we are better off under this admin. If your boys were still in power this mess would financially fall on all of us.
  • by Obama Snake Oil Co Location: Washington on Jun 10, 2010 at 04:28 PM
    Paul, you can keep drinking that koolaid too. Did you know the USCG is responsible, along with the EPA, to protect our waters? Did you trust BP to take care of all the states that would be affected like those during the Exxon Valdez? Did you actually buy a bridge in New York City named The Brooklyn Bridge? I posted the facts, you sir, posted hooey. If this happened with Bush, just how would you "feel"? Knowing I am democrat, how would you feel? Everything that comes accross his desk, Obama, is put off and put off. He ain't no leader and he doesn't have the nation in his line of site. I think this is intentionally happening so the president can raise taxes on oil. Just know I said it first. When you are paying 4-5 dollars a gallon, how do you think American will survive? Please spend some time on the internet learning what is going on, please, otherwise get another glass of koolaid like most others......
  • by Anonymous on Jun 10, 2010 at 04:09 PM
    we should all boycott BP fuel until this mess is fixed and cleaned up. We have the power to bring them to their knees if we stick together.
  • by Derek Location: Greenville on Jun 10, 2010 at 03:42 PM
    OSOC lives for one reason: to blame everything and anything on Obama. I sneezed four times last night, I guess it was Obama's fault since he was in Washington while I had to close my eyes and sneeze while he did nothing to help me..... OSOC, if this could have been prevented, then why didn't Thad Allen think of the Valdez Star sooner? Why didn't BP think of this skimmer ship? If the coast guard and BP didn't go with your suggestion, then what is the next course of action?
  • by Paul on Jun 10, 2010 at 12:51 PM
    Snake Oil? The topic as about BP claims, You submitted (1) one sentence about them, and the balance of the paragraph blaming President Obama. Starting to agree with Levon, you are obsessed with blaming the President. This whole tragedy is BP's fault, and they are to blame and pay for the cost. They should look back at who and how the regulations were first enacted, and who was responsible for them.
  • by Joseph J. Location: Washington on Jun 10, 2010 at 10:45 AM
    I try to be fair and balanced but, whats with osoc? This guy is like Dr. Death. Looming in the shadows with a black hood, grinning and waiting for something evil to happen. Where do he get all his off balanced comments?
  • by NotSurprised Location: Gville on Jun 10, 2010 at 10:23 AM
    I am not in one bit surprised at this at all ; A company selling off all of their stocks and bonds usually takes place after the late night shredding session takes place ; I hope BP goes bankrupt and our government starts sending in the military to make arressts and conduct criminal investigations; Bp alone will be repsponsible for the destruction of our countries coasts ; ALL CRIMINALS!
  • by Ted Location: Grimesland on Jun 10, 2010 at 08:53 AM
    OSOC you and I both know the President and his cronies wanted the disaster to further their political agenda. In my opinion, this spill while certainly bad for BP isn't going to bury them. If I had the money I'd be buying up BP while the price is low...it will go back up eventually.
  • by Hand-off on Jun 10, 2010 at 07:23 AM
    Yes, I did cut my hand off, but I don't understand why I'm bleeding. I'm sure it's not related to my hand being cut off.
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