logo
  Join        Login             Stock Quote

BP (BP): Major Security Incident At Algerian Gas Field Continuing

 January 17, 2013 10:36 AM
 


London-based BP Plc (NYSE: BP) (LSE:BP) confirmed that the major security incident at the In Amenas joint venture site in Algeria is continuing.

The In Amenas gas field and its facilities are operated by a joint venture of the Algerian national oil company Sonatrach, BP and Statoil.

"We have been informed by the UK and Algerian governments that the Algerian army is attempting to take control of the In Amenas site," the oil and gas company said.

BP said the situation on site remains unresolved and fragile. Armed groups still occupy the site and hold a number of site personnel.

A number of BP staff are among those held on the site, the company noted.

[Related -Call Options Active in Yahoo! Inc. (YHOO)and BP plc (ADR) (BP)]

"Sadly, there have been some reports of casualties but we are still lacking any confirmed or reliable information. There are also reports of hostages being released or escaping," the company said.

BP said it is in contact with the UK and Algerian Governments and added it would provide updates as soon as further confirmed information is available.

"As a precautionary measure, staged plans are underway to bring a group of non-essential workers out of Algeria," the company said.

U.S.-listed shares of BP added 0.11 percent to trade at $44.13 on Thursday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageFacebook Inc (FB): You Might Not Like It Today, But You’ll Like It Tomorrow

Do you honestly want to invest in stocks right now? It sure looks like the bull market is at least on read on...

article imageJPMorgan Chase & Co. (JPM) Q1 Earnings Preview: Regulation Costs To Trim Guidance?

JPMorgan Chase & Co. (NYSE:JPM) will host a conference call to review first quarter 2014 financial results read on...

article imageLinkedIn Corp (LNKD): Can Price Overcome Costs?

Stocks are hot, hot, blazing hot after the Federal Reserve’s minutes essentially said not to worry much read on...

article imageStaples, Inc. (SPLS): Insider Buying – CEO Pulls a 180

Last week’s NASDAQ meltdown may have spooked boardroom investors as the number of companies with records of read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.