UK Backs BP Over 'Excessive' US Ban on Contract Deals -- Report

Date : 12/04/2013 @ 4:24AM
Source : Dow Jones News
Stock : BP P.L.C. (BP)
Quote : 34.45  0.45 (1.32%) @ 7:14PM

UK Backs BP Over 'Excessive' US Ban on Contract Deals -- Report

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The U.K. government is backing BP PLC (BP) in the dispute over the oil company's future in the U.S., calling the ban that stops it from winning federal contracts "excessive," reports the Financial Times Wednesday.

BP has been barred from U.S. government contracts since the Deepwater Horizon disaster in 2010 but the paper quotes the U.K. as saying in a filing to court that the ban "affects jobs and pensions of workers in the United Kingdom, the United States, and elsewhere."

The U.K. has previously made behind the scenes intervention. The FT says the move threatens to escalate the issue from a dispute involving a private company to a transatlantic diplomatic row, although Downing Street officials said the intervention was made on purely business grounds.

Full story: http://www.ft.com

Write to London bureau at generaldesklondon@dowjones.com




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