Connect to share and comment

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 adjusted net profit slides on disposals

BP's net profits more than doubled last year, compared with 2012 when it was hit by huge fines from the Gulf of Mexico oil spill disaster, the group said on Tuesday, but underlying profit slipped. Earnings after taxation jumped to $23.451 billion (17.332 billion euros) last year, the British energy giant said in a statement. That compared with $11.017 billion in 2012. However in the fourth quarter, or three months to December, net profits sank 30 percent to $1.042 billion, due to a vast write-off from a failed well in offshore Brazil.

Analysis: BP back in favor despite spill legacy, Russia doubts

By Andrew Callus LONDON (Reuters) - If you had spent 10 pounds on BP shares on April 19, 2010, you would have just nine pounds now, including dividends. A poor investment, however you cut it, but also a remarkable recovery. A day later an explosion at the Deepwater Horizon oil rig in the Gulf of Mexico would deal the United States its worst offshore oil spill, and BP would face the wrath of President Barack Obama himself for the death and destruction it caused.

Ex-BP engineer asks judge to disqualify himself from case over deleted texts after Gulf spill

NEW ORLEANS - A former BP engineer convicted of obstructing a Justice Department probe of the company's 2010 Gulf oil spill has asked a judge to disqualify himself from the case. In a court filing late Wednesday, Kurt Mix's lawyers say they learned last week that U.S. District Judge Stanwood Duval Jr. and his law clerk filed civil claims in 2013 for damages against BP.

BP asks appeals court to rehear judge's approval of settlement over 2010 oil spill in Gulf

NEW ORLEANS - BP on Tuesday asked an appeals court to review a ruling upholding a multibillion-dollar settlement to compensate victims of the company's 2010 oil spill in the Gulf of Mexico. In a filing with the full 5th U.S. Circuit Court of Appeals, BP argued that a divided three-judge panel from the court erred earlier this month when it affirmed a U.S. district judge's approval of the company's settlement with a team of private plaintiffs' lawyers. The New Orleans-based appeals court has 14 active judges and eight senior judges who also hear cases.

Former Halliburton manager given probation for destroying evidence after 2010 Gulf oil spill

NEW ORLEANS - A former Halliburton manager was sentenced Tuesday to one year of probation for destroying evidence in the aftermath of BP's massive 2010 oil spill in the Gulf of Mexico. Anthony Badalamenti, of Katy, Texas, had faced a maximum of one year in prison at his sentencing by U.S. District Judge Jay Zainey. Badalamenti pleaded guilty in October to one misdemeanour count of destruction of evidence. The 62-year-old also has to perform 100 hours of community service and pay a $1,000 fine.

Judge to sentence ex-Halliburton manager for destroying evidence after 2010 Gulf oil spill

NEW ORLEANS - A former Halliburton manager faces a possible prison term when a federal judge sentences him for destroying evidence in the aftermath of BP's massive 2010 oil spill in the Gulf of Mexico. Anthony Badalamenti is scheduled to be sentenced Tuesday by U.S. District Judge Jay Zainey in New Orleans. Badalamenti pleaded guilty in October to one misdemeanour count of destruction of evidence and faces a maximum sentence of 1 year in prison and a $100,000 fine.

Texas lawyer seeks hold on BP spill suit while criminal probe plays out

NEW ORLEANS - A Texas lawyer being sued by oil giant BP over allegations that he falsely claimed to represent thousands of deckhands who lost money in the 2010 Gulf oil spill has asked a federal court to delay the lawsuit while a criminal investigation plays out.

Former Florida Senator Bob Graham in Cuba for environmental talks

By Marc Frank HAVANA (Reuters) - A former democratic senator and governor from Florida, Bob Graham, visited Cuba this week to discuss oil spill prevention and preparedness during a trip that has caused a stir among exiles and Cuba watchers due to his traditional support for tough sanctions against the Communist-ruled Caribbean island.

Analysis: BP's U.S. Gulf oil spill settlement challenges may backfire

By Mica Rosenberg (Reuters) - A year after agreeing to a multi-billion dollar settlement with victims of the 2010 Gulf oil spill, BP is aggressively challenging terms of the deal in a legal strategy that could backfire with the judge who will rule on the company's potentially hefty federal fines.
Syndicate content