Category: Legal issues

BP’s top U.S. officer is called to testify at Gulf oil-spill trial

BP Plc’s highest-ranking U.S. executive, BP America Inc. Chairman and President Lamar McKay, was subpoenaed to testify at the February trial that will determine liability for the 2010 Gulf of Mexico oil spill.  More »

Chevron, Conoco entrapped in post-BP crackdown on spills

Brazil’s threatened indictment of Chevron Corp. (CVX) and Transocean Ltd. (RIG) executives after offshore oil leaks shows that regulators from the North Sea to the Indian Ocean are stepping up scrutiny after BP Plc’s 2010 disaster.  More »

Hedge fund Centaurus fined for violating gas position limits

Centaurus Energy Master Fund LP, a Houston-based energy hedge fund run by former Enron Corp. trader John Arnold, was fined $75,000 by the New York Mercantile Exchange for violating position limits in natural-gas trading.  More »

Anadarko can limit some evidence in pollution lawsuit

Anadarko Petroleum Corp. (APC) can exclude some evidence from a $15.5 billion pollution lawsuit brought by creditors of Tronox Inc., the chemical maker that says it was driven into bankruptcy after it was saddled with environmental liabilities.  More »

BP: Rig partner liable for own punitive damages

BP wants to shield itself from having to compensate Halliburton for punitive damages, fines and penalties the cement contractor may face for its role in the deadly 2010 rig explosion and oil spill in the Gulf of Mexico.  More »

Texas rejects Valero tax break bid

The Texas environmental agency has rejected a request by oil giant Valero for a large tax break and potential $92 million refund at six refineries that installed equipment designed to remove sulfur dioxide from crude oil.  More »

Amaranth’s $77.1 million manipulation settlement approved

A federal judge approved a $77.1 million settlement by Amaranth Advisors LLC, the hedge fund that collapsed in 2006 after losing $6.6 billion on natural gas trades, of a lawsuit brought by traders who accused it of market manipulation.  More »

Judge approves $12M in penalties for refinery co.

A federal judge in Lafayette approved a $10 million fine and $2 million in community service payments to be paid by Texas-based Pelican Refining Company LLC for felony violations of the act and obstruction of justice.  More »

Brazil lawsuit against Chevron may scare investors

A business analyst says the nearly $11 billion lawsuit filed by Brazilian prosecutors against San Ramon, Calif.-based Chevron Corp. because of an offshore oil leak could scare away foreign capital needed to develop Brazil’s huge offshore oil deposits.  More »

BP settles with maker of failed blowout preventer

BP PLC says it will be paid $250 million by the maker of the blowout preventer that failed to halt oil spewing from BP’s busted well in the Gulf of Mexico.  More »

Houston firm pays $93K for fouling W. Pa. stream

The Pittsburgh Post-Gazette says Houston-based EOG Resources, Inc., will also pay $65,000 toward a yet-to-be-determined environmental project in the watershed of the Little Laurel Run creek in Clearfield County near Parker Dam State Park.  More »

Cameron appeals BP Gulf spill trial plan, wants case before jury

Cameron International Corp. (CAM) told a federal appeals court its right to a jury trial would be infringed under a plan to have a judge determine which companies should be blamed for the 2010 BP Plc oil spill in the Gulf of Mexico.  More »