The case began last year when Iraq’s central government sued to seize a tanker loaded with crude from the country’s Kurdish region that had sailed to the Gulf of Mexico and anchored in international waters off the coast of Texas.
The Interior Department is poised to issue standards to close what it says are gaps in blowout preventer rules. Such a device failed catastrophically when a BP well blew out in 2010, causing a massive oil spill.
BP Plc must face institutional investors’ claims for more than $2.5 billion in market losses caused by the plunge in share prices after the 2010 Gulf of Mexico oil spill, a federal appeals court ruled.
With just five companies participating and only 33 leases sold, the turnout was the lowest western Gulf auction since area-wide leasing began in 1983, according to the Bureau of Ocean Energy Management.
Claims administrator Patrick Juneau says there has been an uptick in the number of filings as the deadline approached. He said claims centers in Florida, Mississippi, Alabama, Louisiana and Texas will be open until midnight to handle claims.
The appeals court in New Orleans late Friday ordered a lower court judge to change a procedure that effectively blocked appeals. And the appeals court told the judge to reconsider a rule barring BP from appeals regarding the calculation of a business’ losses that are based on the way revenues and expenses are matched.
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