BP Plc and ConocoPhillips dropped plans for a $35 billion Alaska natural-gas pipeline, once proposed to be the largest private construction project in U.S. history, because they didn’t get enough customer interest.
The U.S. Department of Justice may pursue claims against other lenders after suing Deutsche Bank AG for more than $1 billion, alleging the firm lied while arranging federal insurance on faulty mortgages.
BP Plc is trying to install a valve to staunch one of three leaks in an undersea Gulf of Mexico well as it works on longer-term solutions, including building a dome to capture the flow and drilling a relief well to plug it.
BP Plc ’s plans to develop an oil field five miles off Alaska’s coast from a manmade island must comply with safety rules for offshore drillers issued after BP’s Gulf of Mexico oil spill, the U.S. Interior Department said.
BP Plc is “increasingly likely” to make an announcement about the future of its management and board when it releases first-half results on July 27, Sky News Business Editor Mark Kleinman wrote on his blog today.