Category: Legal issues

BP swipe at “reckless” ruling hinges on challenge to Halliburton expert

BP’s attempt to unravel a verdict that its recklessness caused the Deepwater Horizon oil spill hinges on its legal and scientific challenge to the testimony of one expert and its bid to cast more blame for the disaster on cement contractor Halliburton.  More »

Dune Energy investor challenges buyout deal

A shareholder of Dune Energy is trying to stop a $21.9 million outside bid to buy the small Houston oil producer even as it makes a deal with lenders to avert debt default while it consummates the deal.  More »

BP asks court to revise findings or grant new trial

BP wants a a federal judge to change his findings that it was reckless in the days before the 2010 Gulf of Mexico oil spill or grant it a new trial.  More »

U.S., U.K. securities suits against BP move forward

BP failed to persuade a Texas federal judge to dismiss several lawsuits brought by U.S. and U.K. institutional investors who claim the London oil company misled them about the impact of the Deepwater Horizon oil spill.  More »

Anadarko wants rehearing on oil spill fines

The Woodlands oil explorer wants to clear its name of oil spill penalties stemming from its involvement in the Deepwater Horizon disaster in 2010.  More »

Lawsuit: Siemens $6.5B price for Dresser-Rand too low

A shareholder of Dresser-Rand Group says in a lawsuit the Houston compressor and turbine maker is worth more than the $6.5 billion that Siemens AG is planning to pay for it.  More »

Black Elk execs depart, start new firm

The man who founded and led Black Elk Energy, a Houston firm battered by a fatal 2012 explosion at one of its Gulf of Mexico production platforms, left the company a few weeks ago to try his hand at pumping oil on dry land.  More »

In Exxon suit, judge leaves opening for Indonesian villagers

Last year, a Supreme Court decision over foreign human rights abuse victims seeking damages in American courts left a small window open for some hoping for restitution.  More »

Brazilian oil tycoon Batista charged with market manipulation

Eike Batista stepped down as chairman of MPX Energia, part of his conglomerate EBX group, in 2013 after its IPO was called off.  More »

BP says judge’s fact findings should limit its spill liability

BP is arguing in court that certain findings in a federal judge’s recent ruling actually work in its favor.  More »

Cheniere Energy shareholders say ‘nay’ on pay

In a non-binding vote, Cheniere Energy shareholders have rejected the company’s 2013 compensation for its top brass, including $142 million in salary and stock grants for CEO Charif Souki.  More »

BP asks Texas Supreme Court for ruling that would cut spill costs

The legal question of the day, submitted by the 5th Circuit Court of Appeals to the justices in Texas, could change the way companies finance risky business operations well beyond the oil industry.  More »

Occidental agrees to $190 million settlement with New Jersey

Occidental Petroleum Corp.’s chemical subsidiary has agreed to pay New Jersey $190 million to resolve liability stemming from damages to the Passaic River, the state’s attorney general announced Monday.  More »

Original oil claims boss sides with BP in Supreme Court fight

The man who was in charge of BP’s original oil spill fund has urged the U.S. Supreme Court to require claimants to prove their losses were tied to the 2010 disaster.  More »

Moody’s outlook on BP debt turns negative after ruling

Moody’s Investors Service changed its outlook on billions of dollars of BP’s corporate debt from stable to negative a few days after a federal court’s ruling in the Deepwater Horizon case.  More »