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Report: 87 shipwrecks, most from WWII, could leak oil near US, but no 'ticking time bombs'

The Canadian PressMay 21, 2013 02:17
WASHINGTON - A new government report details 87 shipwrecks — most sunk during World War II decades ago — that could pollute U.S. waters with tens of millions of gallons of oil. Even so, the potential for pollution is less than scientists had expected. The report released Monday by the National Oceanic and Atmospheric Administration concludes "the scope of the problem is much more manageable than initially feared.... Our coastlines are not littered with 'ticking time bombs.'"

Judge tosses obstruction charge against ex-BP executive accused of concealing Gulf spill data

The Canadian PressMay 20, 2013 21:16
NEW ORLEANS - A federal judge on Monday dismissed one of the two counts in the indictment of a former BP executive who was charged with concealing information from Congress about the amount of oil that was leaking from the company's blown-out well in the Gulf of Mexico in 2010.

Judge postpones trial of ex-BP engineer charged with deleting texts about Gulf oil spill

The Canadian PressMay 17, 2013 16:46
NEW ORLEANS - A federal judge has agreed to postpone the trial of a former BP engineer charged with deleting text messages about the company's response to its 2010 oil spill in the Gulf of Mexico. Kurt Mix's trial was scheduled to start June 10, but U.S. District Judge Stanwood Duval Jr. agreed to reschedule it for Dec. 2 to give Mix's attorneys more time to review millions of government documents related to the case.

UK officials say BP not seeking government help to fight claims stemming from 2010 oil spill

The Canadian PressMay 16, 2013 07:47
LONDON - British government officials said Thursday that BP has not sought Prime Minister David Cameron's help in reducing compensation claims for its role in the disastrous 2010 oil spill in the Gulf of Mexico. U.K. media reports claim BP will ask Cameron for help in convincing the U.S. government to intervene. The reports say BP hopes Cameron will raise the issue at a world leaders' summit that Britain will host next month.

HRT buys BP stake in Brazilian offshore field

Agencia EFEMay 6, 2013 19:00
Rio de Janeiro, May 6 (EFE).- Brazilian firm HRT Participaçoes em Petroleo SA announced Monday that it is buying BP Plc's 60-percent stake in the Polvo oil field, which lies off Brazil's southeastern coast. HRT will pay $135 million for BP's share in the field along with a platform and oil rig. Polvo produces 13,000 barrels per day of light crude, HRT said in a statement.

BP says it is selling stake in Brazil's Polvo oil field for $135 million

The Canadian PressMay 6, 2013 10:00
LONDON - Oil company BP says it is selling its majority stake in Brazil's Polvo oil field for $135 million in cash to HRT Oil BP gained its 60 per cent stake in Polvo from Devon Energy in 2011 as part of a purchase in ten exploration and production blocks. Maersk owns the other 40 per cent and the field, located approximately 100 kilometres (60 miles) off the coast of Rio de Janeiro, currently produces about 13,000 barrels of oil a day. BP said in a statement Monday that the deal with Brazil's HRT Oil

Statoil earnings disappoint on output and price falls

Agence France-PresseMay 2, 2013 07:45
Norwegian oil group Statoil announced Thursday a 58-percent plunge in its first quarter net profit, attributing the decline to falling production and oil prices. Net profit fell to 6.4 billion kroner (841.9 million euros, $1.1 billion) from 15.1 billion a year ago. The adjusted net profit, which is closely watched since it excludes financial items such as variations in the value of inventories, registered a more moderate decline of 28.6 percent to 12 billion kroner.
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