Posts filtered on Tag


In this April 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig. (AP Photo/Gerald Herbert, File)

BP settlement agreement announced in July to be filed Monday

A statement from the U.S. Justice Department has says the agreement involving the federal government, five gulf states and BP Exploration and Production will be filed Monday
A  2010 file photo shows a sign at a BP  station in London. (AP Photo/Alastair Grant, File)

BP has big defense against hostile takeover attempt

potential buyer might be forced to accelerate the payment of up to two thirds of the $18.7 billion in penalties the company agreed to pay the U.S. and several states, according to company filings. As it stands, BP has more than 15 years.
Greenpeace activists held a banner that said 'The People vs. Shell' as they scaled the Polar Pioneer drill rig in the Pacific Ocean. (Photo: Greenpeace)

Environmentalists nab one big win in Arctic drilling plans

Environmentalists howled over the Obama administration’s decision to approve Shell’s broad Arctic drilling plan, but they scored one big victory.
In June, GE tested this prototype 20,000 psi ram blowout preventer at its Houston Technology Center. The 20ksi program also includes new wellheads, connectors, control systems, and riser systems. (GE Oil & Gas)

Feds unveil plan for keeping offshore oil wells in check five years after Gulf spill

The measure codifies many of the steps that companies have already taken to better keep offshore wells in check, including more rigorous maintenance and testing of the blowout preventers that act as a last line of defense against uncontrolled surges of oil and gas.
The Deepwater Horizon blowout preventer is lifted onto the deck of the Helix Q4000 in the Gulf of Mexico near the coast of Louisiana in September 2010. (AP file photo/Patrick Semansky)

Five years after Gulf disaster, feds ready new well control and blowout preventer mandates

The Obama administration is poised to lay out new requirements for controlling offshore wells, nearly five years after the Gulf of Mexico oil spill vividly illustrated the damage that can be unleashed when they are not kept in check.
(AP Photo/Gerald Herbert, File)

Anadarko oil spill fines cut by $1.1 billion after ruling

The Woodlands-based oil company had owned 25 percent of the doomed Macondo well and is on the hook for up to $1,100 in fines for every barrel that reached the Gulf of Mexico in 2010.

U.S. judge: BP’s lies about flow rate didn’t hinder Gulf oil spill response

‚ÄúThere is no dispute that BP lied,” about how much oil flowed from the Macondo well during the 2010 Gulf of Mexico oil spill, U.S. District Judge Carl Barbier said, but that didn’t factor in to the effort to stop the blowout.

BP asks judge to cap spill penalties at $12 billion

BP wants a federal judge to cap its potential oil-spill pollution fines at a maximum of $12.3 billion, a move that would cut away nearly a third of the penalties U.S. prosecutors are seeking for the Deepwater Horizon disaster.
Oil flows out of the top of the transition spool, which was placed into the gushing Macondo wellhead at the site of the Deepwater Horizon oil spill in the Gulf of Mexico in July 2010. AP Photo/BP PLC, File)

Researchers find oil footprint from 2010 Gulf oil spill

New research is shedding more light on the fate of the crude that gushed out of BP’s failed Macondo well in 2010.

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.