BP has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
federal jury is weighing the Justice Department’s case against a former BP engineer charged with deleting texts messages to obstruct a probe of the company’s massive 2010 oil spill in the Gulf of Mexico.
Federal investigators on Monday called for an overhaul of the way oil refineries are regulated in California and across the nation, saying the smoky fire at Chevron’s Richmond refinery last year exposed weaknesses in systems that do not force companies to demonstrate they are operating as safely as possible.
The fire at Chevron Corp.’s refinery in Richmond, California, last year that sickened thousands was caused by the company ignoring a decade’s worth of calls for inspections and upgrades of piping that eventually corroded and failed, a federal safety report said today.
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