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PRIME MINISTER ASKED TO ENSURE BP REMAINS A STRONG AND VIABLE COMPANY

Posted by Andrew Selous, MP for South West Bedfordshire, at 15:48, Wed 23 June 2010:

South West Bedfordshire MP Andrew Selous asked the Prime Minister today to update Parliament on his discussions with President Obama on ensuring that BP remains a strong and viable company. Speaking afterwards, Andrew Selous said, “BP is one of Britain’s biggest and most successful companies and its future success is vital for UK jobs and much needed Corporation Tax revenues. It is only if it remains a strong company in the future that it can ensure that all the clean up costs of the Gulf of Mexico oil spill are paid for. I have been contacted by a number of South West Bedfordshire residents who work for BP who are concerned about excessive US rhetoric against BP. I was pleased by the assurances that David Cameron gave in the Commons today.”

The exchange in Hansard was as follows:

Andrew Selous (South West Bedfordshire): Will my right hon. Friend tell the House what discussions he has held with the US Administration to ensure that BP remains a strong and viable company?

The Prime Minister: I am grateful to my hon. Friend for raising that point. I have had two discussions with President Obama so far, including a very good telephone call last night. I made the point, especially in the earlier phone call, that of course BP wants to pay for the clean up and to stop the oil gushing into the gulf, and recognises that it must pay money in respect of fishermen and others who have lost their livelihoods, but we want to ensure that the company remains strong and stable for not only our benefit, but the benefit of the United States. I believe that 40% of the company’s shareholders are in the US, while 39% are in the UK, and it employs more people in the US than it does in the UK, so it is in all our interests that it is strong and secure in the future.