Shares of Halliburton Co. (HAL) and Anadarko Petroleum Corp. (APC) are dropping this morning after a report by a presidential commission into the Gulf of Mexico oil spill from last year spread the blame to various parties, not only BP plc (NYSE: BP).
As of 10:24 a.m., APC and HAL shares are down 2.5 percent and 2.3 percent, respectively.
While the report was highly critical of BP’s management in the handling of the disaster, it seems increasingly likely that the company at the center of this crisis will avoid paying the maximum financial penalties it had once feared.
Indeed, shares of BP are slightly higher this morning.
However, shares of rig-owner Transocean Ltd. (NYSE: RIG), also blamed in the report, are also up in trading.