Is BP still in a Bad Position? (NYSE: BP) (NYSE: HAL)

The fate of BP still lies in the hands of the government as questions still loom about the oil spill in the Gulf of Mexico. Earnings for the oil giant are set to come in at $1.51 when it reports on Tuesday. Revenue is expected to be $72.46 billion for the quarter.

Halliburton has been blaming BP for the disaster, but recently some of the blame was shifted to HAL in a report saying that the cement used in the well in the Gulf was unstable. HAL fired back with a report saying that the results from the cement test were positive.

Open The Pod Bay Doors HAL (NYSE: HAL) (NYSE: BP)

Halliburton is being investigated by a government panel that claims the oil services company may have played a role in the deep water platform explosion in the Gulf of Mexico. Halliburton is said to have supplied cement to BP, that the company knew was unstable, for the purposes of sealing the well.

HAL came out with a 6-page statement however, citing that the results from the cement test were positive. Halliburton, which has been blaming BP for the disaster, did admit that there was no stability test done on the cement on the well which blew out on April 20th killing 11 workers.

Halliburton shares were up 0.57% on Friday after trading almost 8% lower on the Thursday.

Open The Door HAL (NYSE: HAL) (NYSE: BP)

Halliburton is being investigated by a government panel that claims the oil services company may have played a role in the deep water platform explosion in the Gulf of Mexico. Halliburton may have supplied cement to BP, that the company knew was unstable, for the purposes of sealing the well.

In the past, Halliburton has blamed BP for failing to test the cement and various other measures that may have caused the incident. Millions of barrels of oil were dumped into the Gulf of Mexico as a result.

Halliburton shares traded almost 8% lower on the news Thursday.