BP execs worried about cost cutting, safety: paper
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Some top executives at British oil company BP  are worried that cost cutting at a Texas refinery might have contributed to the plant's poor state of safety and equipment, according to an internal BP review, The Wall Street Journal reported on its Web site on Tuesday.
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U.S. Congress members on Thursday   chided BP Plc. BP.L executives for allowing pipelines at   Alaska's Prudhoe Bay oil field to get so corroded that there   was a major oil spill in March and partial closure of the giant   field in August.
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British energy giant BP&#39;s third-quarter revenues are set to be &quot;dreadful,&quot; the company&#39;s chief executive Tony Hayward told a meeting of BP employees in Houston, the Financial Times reported in an early edition of its Tuesday paper.
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Oracle, the American corporate software giant, has admitted it is feeling the pressure of its protracted takeover battle for PeopleSoft, saying that it was worried that valuable staff were starting to leave its acquisition target.
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Oil major BP Plc  told its 3,300 office workers in the suburbs of Chicago on Thursday that many staff will be relocated to Houston while others may be laid off, a BP spokesman said.
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Alaska regulators on  Wednesday defended their oversight of BP Plc , but  advocated tighter rules after leaks forced the oil giant to  shut down 12 oil wells this week.
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The sharp rise in oil prices which recently creeps towards $60 per barrel has put many energy industries and those reliant on energy on the edge for fear of the adverse affects of escalating prices.
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Energy giant BP has said that net profits dipped in 2006, reflecting a decline in production and refining margins, despite record peaks for crude oil prices in the middle of the year.
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One or two insurance companies might not have the financial wherewithal to survive this year&#39;s hurricane season in Florida, said several top industry officials and state regulators.
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The head of the House Energy and  Commerce Committee chided BP Plc.  executives on Thursday  for overlooking corrosion that threatened to shut down the  giant Prudhoe Bay oil field in Alaska, calling the UK-based  energy giant's policies "as rusty as its pipelines."
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British energy giant BP, the world's third-biggest major, said Tuesday that net earnings fell last year despite soaring oil prices as it was hit by falling output after a turbulent 2007.
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British energy behemoth BP confirmed that it will overhaul its worldwide operations to improve safety in the wake of last year's deadly Texas City refinery explosion.
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British energy giant BP was warned by outside engineers in 2001 over its pipelines in Alaska but intervened with state officials to dilute the findings, according to an activist.
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Facing continued top-line weakness, the company may have to cut costs.
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Executives urged to quit over risks that took lender to the brink of collapse.
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Russiaâs strategy to secure a monopoly for Gazprom on exports to Asia is threatening an important investment by BP.
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Energy giant BP, reeling from fatal safety errors and a boardroom scandal, said Tuesday that third-quarter profits almost halved owing to lower output, US gas prices and refinery outages.