Category: Gulf oil spill

BP oil spill claims czar expects Gulf Coast recovery in 3 years *Updated*

Kenneth Feinberg said the Gulf Coast Claims Facility used data and expert reports to determine that the region is likely to see a 30 percent recovery in 2011 with full recovery in 2012. The oyster business will take longer to revive, he said.  More »

The past won’t leave BP alone

Bob Dudley, who became BP’s CEO last summer in the wake of the Macondo crisis, is the latest BP official trying desperately to move the company beyond its past. The sale of its Texas City refinery and other troubled assets might not be enough, Loren Steffy writes.  More »

Retooled strategy at BP emphasizes exploration

The oil giant’s post-Macondo goals: downshift on refining and put its energy toward exploration in the developing world, including five new areas – Libya, Jordan, Brazil, the South China Sea and Australia.  More »

North Carolina woman pleads guilty to false Gulf spill claim

The 41-year-old was the first person in the country to be charged over an oil spill compensation claim. Authorities say she claimed to have been fired from a New Orleans job she never held.  More »

Gulf Coast residents angry at BP for resuming dividends

The 7 cents per share payout to BP shareholders, about $1.25 billion overall, isn’t a lot by BP’s standards — its half what the company paid investors for the final quarter of 2009 — but people affected by the Gulf oil spill frowned on the idea of going back to business as usual.  More »

Lawmaker blasts BP’s dividend payouts

Rep. Ed Markey, D-Mass., says BP’s decision to resume paying dividends to shareholders, while separately challenging the size and costs of last year’s oil spill, is an insult to Gulf Coast residents.  More »

Anadarko net income declines but exceeds analysts’ estimates

Net income was $111 million, or 22 cents a share, compared with $229 million, or 46 cents, a year earlier, The Woodlands-based company said.  More »

BP to sell one of its biggest problems

Typically, asset sales raise concerns among employees about job cuts and other changes, Loren Steffy writes. Given the history of BP’s Texas City refinery, though, it seems unlikely a new owner would make anything other than improvements.  More »

BP to sell Texas City refinery, resume dividend

BP’s new strategy includes selling its Texas City refinery and focusing on exploration and production, the company said. The oil giant also reported a $3.7 billion fourth quarter profit and a return of its quarterly dividend.  More »

Of 91,000 Gulf oil spill claims, just 1 final payment

BP won’t identify the business that received a $10 million payout, citing confidentiality, but acknowledges it lobbied for the settlement.  More »

Bromwich: Testing of BOP hasn’t been compromised

A top Obama administration official rebuts claims that conflicts of interest compromised the examination of a key piece of evidence in the Gulf of Mexico oil spill. (Photo: AP) At issue is the ongoing autopsy of the bl…  More »

Shell files first deepwater Gulf plan to follow post-spill regs

The European oil giant’s Cardomom Deep field in the eastern Gulf will be important test of federal review in the wake of BP’s Macondo disaster.  More »