Tag: BP

BP CEO’s pay package jumps 25 percent

BP CEO Bob Dudley’s total take home jumped 25 percent last year, though his annual cash bonus was trimmed by more than half, according to regulatory filings released Tuesday.  More »

Ohio sues BP for more than $33M in cleanup of storage tanks

The state’s attorney general and the Ohio Petroleum Underground Storage Tank Release Compensation Board filed the lawsuit Monday. The board administers a fund used as a last resort when tank owners lack coverage or don’t accept insurance money.  More »

Judge rejects BP appeal on cap for Gulf oil spill liabilities

Barbier said he hasn’t yet determined the actual amount of the civil penalty stemming from the Gulf of Mexico spill, which could run as high as $13.7 billion.  More »

BP, Maersk team up to train rig crews in Houston simulators

BP is announcing Thursday that it has a five-year contract for its offshore rig crews to get practice with drilling equipment in virtual-reality environments at Maersk Training’s new facility in Houston, which will feature high-tech simulators for offshore rig tasks, the companies said Thursday.  More »

Fitch: Refinery strikes could send gasoline up if they extend into driving season

In a report released Wednesday, Fitch said the strikes haven’t moved markets for refined products like gasoline, diesel and jet fuel so far, largely because inventories haven’t declined much amid a mild winter and refinery maintenance season in January and February.  More »

Strike update: BP training additional replacement workers

The union went on strike against two BP refineries, one in Ohio and another in Indiana, on Feb. 8., a week after the union launched initial walkouts at nine facilities.  More »

Norway rejects call to cut oil taxes as cure for crude crash

Oil companies in the country are preparing to cut investment by 15 percent this year.  More »

Judge tosses coastal damage suit against oil companies

The Southeast Louisiana Flood Protection Authority-East had claimed that coastal drilling and dredging activities contributed to the loss of coastal wetlands.  More »

Shell calls on Big Oil peers to speak up on climate change

While Shell, along with BP Plc, have led the oil industry in acknowledging climate change as a risk, the producers have avoided forums such as the annual United Nations climate talks.  More »

Labor talks to resume Tuesday

The work stoppage at two BP facilities in the Midwest brought the number of plants on strike to 11, after union members walked out of nine facilities, including five in the Houston area, a week earlier.  More »

Oil on track for biggest two-week gain in 17 years

Oil has rebounded as companies including Statoil ASA, BP Plc and Royal Dutch Shell Plc have reduced investments in response to the market’s collapse.  More »

Statoil announces U.S. spending cuts; could cut jobs, too

Statoil said it would cut is capital expenditures this year by 10 percent to $18 billion.  More »

BP urges judges to remove head of oil spill settlement fund

It’s the oil giant’s latest legal effort to limit its losses from the nation’s worst offshore oil spill.  More »

Oil surges into bull market as investment cut seen curbing glut

West Texas Intermediate for March delivery climbed $3.48, or 7 percent, to close at $53.05 a barrel on the New York Mercantile Exchange.  More »

BP CEO: Oil collapse could repeat 1980s with years of low prices

The British oil giant reported it lost $4.4 billion in profits during the fourth quarter as it wrote down the value of some of its oil-producing assets.  More »
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