Deepwater Horizon oil spill

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.

BP says Q1 net profits triple to $16.86 bln

Agence France-PresseApril 30, 2013 06:45

British energy giant BP said Tuesday that net profits almost tripled in the first quarter of 2013, boosted by the sale of its stake in Russian joint venture TNK-BP, despite falling oil and gas output. Earnings after taxation surged to $16.86 billion (12.87 billion euros) in the three months to the end of March, compared with $5.77 billion in the same period of 2012, BP said in a results statement.

BP profits more than triple in Q1 as company continues with disposal plan following US spill

The Canadian PressApril 30, 2013 06:45

LONDON - BP's sale of its Russian joint venture helped it more than triple first-quarter profits, the oil company said Tuesday in a further sign that its disposal program in the wake of the Gulf of Mexico oil spill disaster is on track.

NY City sues BP over Deepwater Horizon spill - Comptroller

Thomson ReutersApril 26, 2013 14:15

NEW YORK (Reuters) - New York City said on Friday it sued BP Plc for more than $39 million (25.1 million pounds) of losses it claims beneficiaries of the city's pension funds sustained due to BP's "misconduct and fraudulent behaviour" linked to the 2010 Deepwater Horizon oil spill. "BP failed to disclose to shareowners the serious risks involved in its offshore drilling operation," Comptroller John Liu said. "After the spill began, it misleadingly attempted to minimize the extent of the damage and the cost to shareowners."

U.S. appeals court expedites BP spill claims case

Thomson ReutersApril 23, 2013 15:15

NEW ORLEANS (Reuters) - A federal appeals court has agreed to speed up the process of determining whether BP Plc's settlement with class-action plaintiffs over the 2010 Gulf of Mexico oil spill is being handled properly. BP had asked for the case to be heard as early as late May, and the Fifth Circuit Court of Appeals in New Orleans agreed late on Monday to an expedited appeal, but denied BP's request that payments be suspended until the appeal outcome is known.

Halliburton in Gulf spill settlement talks, stock jumps

Thomson ReutersApril 22, 2013 12:30

By Braden Reddall and Kathy Finn (Reuters) - Halliburton Co is in "advanced" talks to settle private claims against it in a trial to determine blame for the 2010 Gulf of Mexico spill, the oilfield services company said on Monday, as it booked a $1 billion (654 million pounds) pre-tax charge for a possible deal.

Analysis - BP's legal gamble may trim spill bill by billions

Thomson ReutersApril 22, 2013 01:46

By Kathy Finn and Braden Reddall NEW ORLEANS/SAN FRANCISCO (Reuters) - BP Plc's attempt to get a U.S. federal court to pin at least a sizeable amount of the blame for the Deepwater Horizon disaster on other companies may have saved it billions of dollars. After failing to settle claims from the 2010 Gulf of Mexico spill through negotiations, the British oil company opted in February to go to trial with plaintiffs ranging from small businesses to the U.S. government over the damages it will face.

Three years after Gulf spill, BP fights billions in fines

Agence France-PresseApril 17, 2013 22:16

Three years after a deadly explosion on a BP-leased drilling rig unleashed the worst environmental disaster in US history, the British energy giant is fighting to avoid billions in fines. BP's lawyers are trying to convince a federal judge that the 2010 Gulf of Mexico oil spill was not a result of gross negligence and to shift some blame -- and cost -- to its subcontractors at a blockbuster trial in New Orleans.

First phase of BP spill trial comes to an end

Thomson ReutersApril 17, 2013 19:45

NEW ORLEANS (Reuters) - The first phase of a trial to determine blame for BP Plc's 2010 Gulf of Mexico oil spill came to an end on Wednesday, with the judge allowing 80 days for the determination of findings and conclusions. It ended only three days before the three-year anniversary of the Deepwater Horizon disaster, which killed 11 people and caused the worst U.S. offshore spill.

Investor opposition to BP executive pay wanes

Thomson ReutersApril 11, 2013 10:30

LONDON (Reuters) - The shareholder rebellion against BP's remuneration policy shrank this year, after the oil major made progress in untangling its Russian investments and reducing uncertainty over oil spill liabilities. Investors representing just 5.88 percent of shares voted against its 2012 remuneration report at a meeting in London on Thursday - almost half the 11.79 percent that rejected the report the previous year.