Daily Archives: March 2, 2012

BP agrees to $7.8B settlement with Gulf oil spill plaintiffs

BP Plc late on Friday reached an out-of-court settlement deal worth some $7.8 billion with thousands of plaintiffs who filed suit over the Gulf of Mexico oil spill. In a statement posted on its website, BP (NYSE: BP) said the nearly $8 billion settlement would be paid from the $20 billion fund set up in the wake of the April 2010 Deepwater Horizon rig disaster that claimed 11 lives and resulted in the worst oil spill in U.S. history. The …  More »

BP, plaintiffs reach spill $7.8 billion settlement

A federal judge says BP and a committee representing plaintiffs suing over the 2010 Gulf oil spill reached an $8 billion agreement Friday night.  More »

Testing Donor’s Intent, 350 Years Later

A 35-acre plot of seaside land is at the center of a legal battle that has roiled the usually quiet, historic town of Ipswich, Mass.  More »

BP, plaintiffs in spill case reach settlement (Updated)

(Updates with comments from BP, details of the settlement.) Attorneys for BP reached a $7.8 billion settlement with attorneys for business owners and other individuals harmed by the Gulf oil spill of 2010, just days before the case was set for trial. BP said it expects to use money from the $20 billion claims fund [...]  More »

BP reaches deal with plaintiffs over Gulf of Mexico spill

NEW YORK, March 2 (Reuters) – BP PLC has reached a $7.8 billion agreement with plaintiffs suing over the massive 2010 Gulf of Mexico oil spill, according to a court order on Friday, but the company still faces claims by the U.S. government and drilling…  More »

Plaintiffs’ Steering Committee in BP Gulf Oil Spill Litigation Announces Settlement in Principle With BP

NEW ORLEANS, March, 3, 2012 /PRNewswire/ –The Plaintiffs’ Steering Committee (PSC) spearheading the litigation surrounding the 2010 BP Gulf Oil Spill today announced that a settlement in principle has been reached with BP that will fully compensate hundreds of thousands of victims…  More »

BP, plaintiffs in spill case reach settlement (Updated)

(Updates with comments from BP, details of the settlement.) Attorneys for BP reached a $7.8 billion settlement with attorneys for business owners and other individuals harmed by the Gulf oil spill of 2010, just days before the case was set for trial. BP said it expects to use money from the $20 billion claims fund [...]  More »

BP reaches deal with oil spill plaintiffs

NEW YORK, March 2 (Reuters) – BP PLC has reached an agreement with counsel for plaintiffs suing over the massive 2010 Gulf of Mexico oil spill, according to a court order on Friday.  More »

Lessons From India’s ONGC Sale Fiasco

Some very high hopes were dashed Thursday in India with the Oil & Natural Gas Corp.’s disastrous share auction.  More »

REFILE-Vietnam drops LPG import duty in fight against inflation

HANOI, March 3 (Reuters) – Vietnam has removed a 5 percent import duty on liquefied petroleum gas (LPG) in a move to ease inflationary pressures, the Finance Ministry said.  More »

Oil Jitters Fade, as Does Its Price

Oil prices retreated 2% as fears of a supply disruption in Saudi Arabia eased and broader markets pulled back.  More »

Court denies eminent domain rehearing

The Texas Supreme Court’s refused to rehear a pipeline case, giving landowners the ability to challenge a pipeline company’s right to eminent domain, but creating uncertainty in the state’s booming oil and gas industry.  More »
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