BP on hot seat next week
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The U.S. Congress comes back to town   next week to sift through the pieces of the latest oil patch   disaster -- pipeline corrosion that threatened to shut down the   giant Prudhoe Bay oil field in Alaska.
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News events to watch for in the coming week.
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Energy experts warn that the jump in the price of crude would raise prices for heating oil and gasoline in coming weeks.
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The U.S. Justice Department is  expected to seek indictments of up to four former BP Plc   traders as early as Thursday, the Wall Street Journal reported  in its online edition on Wednesday.
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WASHINGTON -- BP executives received stern warnings Thursday from members of Congress outraged at the company's admittedly deficient maintenance of leak-prone Alaskan oil pipelines.
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British oil giant BP is set to announce its return to Libya, Prime Minister Tony Blair&#39;s official spokesman said, shortly before taking off for the north African country.
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Oil giant BP is expected to get grilled by a House committee today for its failure to prevent a major Alaskan pipeline from getting crippled by corrosion.
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Soaring crude prices plus worries about the economy and the outlook for earnings are expected to hang over the stock market next week during the depth of the summer doldrums.
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U.S. stock investors looking to recoup  from the worst week in almost three months will have to keep  one eye out for signs of weakness in the tidal wave of earnings  due next week and the other on the threat surging oil prices  pose to the economy and profits.
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Oil Giant BP Plc reported bumper  third-quarter profits thanks to high oil prices, but its higher  capital expenditure plans raised some concerns about the size  of future share buybacks.
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MPs will on Tuesday grill energy bosses over rising gas and electricity prices.
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OPEC may resist calls to raise oil output quotas much, if at all, when it meets this week for fear of turning a decline from record prices into a rout.
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Crude oil prices may fall this week as companies including Royal Dutch/Shell Group restart platforms and tankers resume shipments in the Gulf of Mexico after Hurricane Ivan
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Oil giant BP is to create a new position of chief operating officer with however is appointed then in line to take over as chief executive in 2008, press reported.
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New York - Investors are expected to focus on oil prices and earnings outlooks this week, and the slightest warning about revenues could weigh on stocks.
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The Reliance Industries&#39; board meeting on Monday promises to be a marathon and a stormy event. Dominating the agenda will be issues related to Reliance Energy, and particularly those raised by two independent
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Crude oil futures may rise in New York on speculation Hurricane Ivan could disrupt output from platforms in the Gulf of Mexico as the storm nears the US mainland this week.