Energy
BP plc Close To $9 Billion Finance Package, Test Of "The Whale" Goes Nowhere
Published:
Last Updated:
BP plc (NYSE: BP) got two piece of news today, one much better than the other. The Wall Street Journal reports that the oil company has probably brought in $9 billion in financing, about $1 billion from each of nine banks which include Barclays PLC, BNP Paribas SA, Citigroup Inc., Banco Santander SA, HSBC Holdings PLC, Royal Bank of Canada, Royal Bank of Scotland Group PLC and Société Générale SA, the paper said.
The loans have a one-year maturity and one year option for extension.The other information is that a two-day test of “The Whale”, a 350 yard long tanker turned into a skimmer, meant to see if it can collect massive amounts of oil have not been successful so far, according to Reuters. TMT Shipping Offshore, which owns the boat, said the seas were too rough to allow the skimming device on the ship to do its work.
Douglas A. McIntyre
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
