BP (BP) Petroleum Production Not Affected By Egypt's Civil Unrest; But Electrolux (ELUX-B), General Motors (GM) Suspend Operations

  @David_Kashi on August 16 2013 3:57 PM
egypt tear gas
Riot police fire tear gas during clashes with members of the Muslim Brotherhood and supporters of deposed Egyptian President Mohammed Morsi, around Cairo University and Nahdet Misr Square, where they are camping, in Giza. Reuters

BP PLC (NYSE:BP) is one of the only major Western companies in Egypt that’s continuing operations after government forces cracked down on protesters, a company spokesman told the International Business Times on Friday.

At least 700 people have been killed this week in violence, including at least 64 on Friday, USA Today reported.

This comes as Electrolux AB (STO:ELUX-B), a Swedish home appliance company, decided to send employees home Wednesday until the company revaluates the situation on Saturday. The company employs around 7,000 workers outside of Cairo.

In the last few days, clashes between government forces and protesters backing ousted President Mohammed Morsi have injured 3,572, according to the health ministry. The violence prompted the declaration of a monthlong state of emergency, which Obama called on the interim government to lift.

In response to the recent instability, General Motors Company (NYSE:GM) Wednesday closed its Cairo office and halted production in operations at their plant where 1,400 Egyptians are employed.

BP, has a stake in the stability of Egypt and told IB Times that operations and production were unaffected.

“Nothing’s changed from our point of view since yesterday,” the spokesman said.

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