BP is barred from entering into new contracts with the federal government until the company can demonstrate to the U.S. Environmental Protection Agency that “the company can provide sufficient evidence to EPA demonstrating that it meets Federal business standards.” The ban was imposed last November.
By not participating in today’s auction, BP indicates that it does not believe that it can rectify its position with the EPA within the 90 days that it takes for the BOEM and the Department of the Interior to review and accept bids on new leases.
A total of 407 bids were received with most of the action on ultra-deepwater tracts more than 1,600 meters under the surface. One tract attracted six bids, the most of any tract up for lease today. Bidders included ConocoPhillips (NYSE: COP), Chevron Corp. (NYSE: CVX), Exxon Mobil Corp. (NYSE: XOM), Anadarko Petroleum Corp. (NYSE: APC), Cobalt International Energy Inc. (NYSE: CIE), and Venari Offshore Ltd.
Earlier today Anadarko and its partners Cobalt, Venari, Conoco, and Marathon Oil Corp. (NYSE: MRO) announced a major discovery in the Gulf of Mexico in a location near the block that attracted six bids today.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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