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9th Circuit Court of Appeals reinstates shareholders' lawsuit against BP after Alaska spills

ANCHORAGE, Alaska - A federal appeals court on Thursday reinstated a shareholders lawsuit filed against BP Alaska in the wake of two oil spills in 2006 on the North Slope that exposed problems with the company's pipeline maintenance program. A three-judge panel of the 9th U.S. Circuit Court of Appeals reversed the U.S. District Court of Western Washington on several claims.

Appeals court action clears way for medical claims in 2010 BP spill

NEW ORLEANS - A federal appeals court has cleared the way for thousands of workers to be compensated for medical treatment for exposure to crude oil or chemical dispersants during the 2010 BP oil spill in the Gulf of Mexico. The 5th U.S. Circuit Court of Appeals' action Tuesday involves a settlement approved by a federal judge in January 2013 between BP, workers and some coastal residents from specified beachfront and wetlands areas who said they were injured or sickened during the spill cleanup.

BP must face shareholder suit over 2006 Alaska oil spill

By Dan Levine SAN FRANCISCO (Reuters) - A U.S. appeals court on Thursday revived a shareholder lawsuit against BP PLC <BP.L><BP.N> over statements the company made in the wake of a 2006 oil spill in Alaska. The ruling from the 9th U.S. Circuit Court of Appeals in San Francisco allows shareholders to proceed with some securities fraud claims against BP after a lower judge had dismissed them. Representatives for BP and the plaintiffs could not immediately be reached for comment.

B.C. applies for intervener status at Trans Mountain pipeline hearings

VANCOUVER - The province of British Columbia has filed an application to take part in the public hearings into Kinder Morgan's proposed expansion of its Trans Mountain oil pipeline. Under an agreement signed with the federal government, the province will not conduct its own review of the project but let the federal decision stand for B.C.'s assessment as well. As an intervener, the province is on the same footing as First Nations, environmental and business groups that, under new federal rules, can prove they have a direct interest in the project.

Local firms should register for slice of proposed west-east pipeline: executive

HALIFAX - The president of the Energy East Pipeline encouraged a business audience Wednesday to start registering for possible work on the proposed cross-country project. Steve Pohlod said in a speech at the Maritimes Energy Association in Halifax that the subsidiary of TransCanada (TSX:TRP) will need everything from security personnel for work camps to geotechnical experts and mechanical engineers if the 4,500-kilometre project is approved. The executive invited firms to start registering on a company website for a pre-qualification process.

Road to Alaska port city cut off by avalanches set to reopen

By Steve Quinn JUNEAU, Alaska (Reuters) - An Alaska highway hit by a series of avalanches that blocked the only road to the port city of Valdez will reopen on Wednesday, nearly two weeks after it was cut off by snow and ice, state transportation officials said. Alaska's Richardson Highway should open by mid-afternoon, restoring Valdez's access to the rest of Alaska by the north-south artery, Alaska Department of Transportation & Public Utilities spokesman Jeremy Woodrow said.

BP Q4 profits dragged down by divestment program and continuing costs of Gulf of Mexico spill

LONDON - BP PLC's fourth-quarter profits fell 30 per cent as the asset sales that it has pursued to compensate victims of the Gulf of Mexico oil disaster reduced production.

BP net profits double in 2013 on Rosneft boost

BP's net profit more than doubled last year, boosted by a stake in Russian oil giant Rosneft, but the British energy major faltered in the fourth quarter, it said on Tuesday. Earnings after tax jumped to $23.45 billion (17.33 billion euros) last year. That compared with $11.01 billion in 2012 when performance was skewed by huge fines arising from the 2010 US oil spill catastrophe, BP said in a results statement.

BP net profits double in 2013 on Rosneft boost

BP's net profit more than doubled last year, boosted by a stake in Russian oil giant Rosneft, but the British energy major faltered in the fourth quarter, it said on Tuesday. Earnings after tax jumped to $23.45 billion (17.33 billion euros) last year. That compared with $11.01 billion in 2012 when performance was skewed by huge fines arising from the 2010 US oil spill catastrophe, BP said in a results statement.

BP fourth-quarter profits hit by refining weakness, ups spill charge

LONDON (Reuters) - BP, the West's no.4 oil company, reported weaker quarterly profits after its refining business swung to a loss, and said it would increase the accounting provision for the 2010 U.S. oil spill by $200 million. The British company on Tuesday reported underlying replacement cost profit of $2.8 billion for the fourth quarter of 2013, 28 percent lower than the same period a year ago, but ahead of a consensus forecast of $2.7 billion.
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