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Meanwhile, oil is spewing mostly unchecked from the well. Another rig, the Q4000, is siphoning and burning off about 8,000 barrels a day from the leaking well, Wells said.

U.S. government experts have pegged the leak's flow at up to 60,NBA,000 bpd (2.5 million gallons/9.5 million liters).

(Additional reporting by Chris Baltimore and Lesley Wroughton, Editing by Sandra Maler and Alan Elsner)

HOUSTON (Reuters) – The first of two relief wells is expected to intercept BP Plc's blown-out well in the Gulf of Mexico by the end of July and the leak could be plugged by early to mid-August,Ed hardy belts, a BP executive said on Sunday.

"The anticipation is that toward the end of July is when we'll be able to intercept the Macondo well," Kent Wells, senior vice president of exploration and production for BP, told reporters.

"If everything goes extremely well, we'll be on the short end of four to seven days" to install the new cap, Wells said.

BP expects to have that four-vessel system in place within two to three weeks, Wells said.

The new oil-capture system, a rig called the Helix Producer, had gone through all necessary startup procedures and was expected to begin siphoning oil, Wells said.

The new cap and startup of the Helix Producer are critical steps toward an upgraded oil-capture system with four vessels that can collectively handle up to 80,000 barrels of oil per day (3.4 million gallons/12.7 million liters), according to BP and the Coast Guard.

Wells explained, however, that intercepting the well is only the first step to killing the leak and BP still expects to plug it with heavy drilling fluid and cement by early to mid-August.

Wells also said that BP made progress on a delicate undersea operation to install a new containment cap on the leaking wellhead, and planned to activate a new oil-siphoning system later on Sunday.

BP on Saturday removed a cap on the well and began working to install the bigger cap and seal.

When fully operational, the new cap will capture virtually all of the oil spewing from the well, according to retired Coast Guard Admiral Thad Allen, the top U.S. oil spill official.

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Analysts surveyed by Thomson Reuters on averaged predicted Heinz would earn 59 cents per share on revenue of $2.75 billion.

Heinz, based in Pittsburgh, raised its 2011 dividend 12 cents to $1.80 and offered guidance for the next year in line with Wall Street analysts’ estimates.

NEW YORK – Rising revenue in Asia and the Pacific outpaced food maker H.J. Heinz Co.’s growth in the U.S. and Europe and helped its fourth-quarter net income climb 9.8 percent, the company said Thursday.

The maker of Ore-Ida potatoes, Classico pasta sauce and its signature ketchup said cutting costs and raising its prices also helped, by making up for rising ingredient prices.

Analysts polled by Thomson Reuters expect earnings of $3.09 per share on revenue of $10.79 billion.

Johnson said it’s likely that emerging markets like Russia, China, India and Indonesia will make up one-fourth of Heinz’s revenue in the next several years and 35 percent to 40 percent in the longer term. Asia and the Pacific now produce 20 percent of Heinz’s revenue, while North America and Europe produce 62 percent.

The company spent 63 percent more to market its leading brands during the quarter than it did a year earlier. It said marketing spending fostered much of its growth, and CEO Bill Johnson told investors on a conference call that the company will maintain current levels, and especially in emerging markets, where it wants to position itself early to hook new shoppers on its brands.

Standard & Poor’s analyst Tom Graves reiterated his “Buy” opinion on the stock, and told analysts in a note he continues to expect emerging markets to “be a growing portion of (Heinz’s) future sales mix.”

But he cut his estimate for the company’s fiscal 2011 earnings to $3 per share from $3.05 per share to reflect concerns about currency fluctuations. He maintained his price target of $49.

In North America and Europe, revenue rose just under 7 percent each, while revenue in Asia and the Pacific jumped 27.3 percent.

The U.S. foodservice business — which sells to restaurants and other commercial establishments — posted a 2.4 percent drop in revenue as its customers continued to contend with a market that has people eating out less to save money. The unit’s revenue was $365 million, about 13.4 percent of total quarterly revenue.

The company earned $192.4 million, or 60 cents per share,Juicy Couture swimwear, in the three months that ended April 28. That compares with $175.1 million, or 55 cents per share, a year earlier.

That’s also why the company has been increasing its marketing — to keep wooing new shoppers to its brands, which also include Bagel Bites, Weight Watchers’ Smart Ones and Boston Market meals.

For fiscal 2011, the company expects, on a constant currency basis, sales growth of between 3 and 4 percent, implying revenue between $10.8 billion and $10.9 billion. It expects earnings per share to range from $3.06 to $3.16.

For the full year, Heinz reported net income of $864.9 million, or $2.71 per share, down from $923.1 million, or $2.89 per share, a year earlier. Revenue rose from $10.01 billion to $10.49 billion.

Revenue rose 8.3 percent to $2.72 billion,Hollister, while volume rose 1.6 percent, led by ketchup and sauces.

Shares of Heinz added 54 cents, or 1.2 percent, to close at $44.80 Thursday.

Food makers are increasingly focusing on expanding their businesses in emerging markets like China and India as they deal with slower growth in the U.S. and Europe, where its longtime customers have been switching to less expensive store brands.

On a basis that excludes acquisitions, the company’s ketchup and sauces make up 43.3 percent of its total revenue. Global ketchup sales rose 7.7 percent, led by Russia, Latin America, Egypt, Britain, France, and China, among other countries.

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