The Winner, America…
Halliburton profit soars 83% in Q2
Before the explosion of the Deepwater Horizon rig on April 20, Halliburton was hired by BP to seal the Macondo well before it blew up. 19 Jul 2010 US oil giant Halliburton says its second-quarter profit has jumped 83 percent, despite because of the company’s involvement in the Gulf of Mexico oil spill. The news caused Halliburton shares to soar 5 percent to $28.89 in Wall Street pre-opening trade on Monday, the Associated Press reported. The oil giant’s net income for the April-June period was $480 million up from $262 million one year ago.
The Losers, The UK…
BP shares plunge after engineers detect seepage at capped Deepwater Horizon well
The US government has ordered BP to provide a plan for reopening its capped well in the Gulf of Mexico after engineers found seepage and possible methane gas near the leak site.
But the discovery of seepage could mean there are still leaks in the damaged well.
BP shares fell by as much as 5 per cent today as investors reacted to the latest developments in the disaster, which began when the Deepwater Horizon rig exploded on April 20, killing 11 workers.
Shares dipped below 300p at one stage last month – the lowest point since August 1996 – but last week recovered to around 425p on signs that it is closer to tackling the crisis, which BP said today has now cost $US4bn (£2.6bn) in spillage and clean-up.