Connect to share and comment

U.S. court rejects BP appeal over Gulf spill losses

By Jonathan Stempel (Reuters) - A divided U.S. appeals court on Monday rejected BP Plc's bid to block businesses from recovering money over the 2010 Gulf of Mexico oil spill, even if they could not trace their economic losses to the disaster. By a 2-1 vote, the 5th U.S. Circuit Court of Appeals in New Orleans upheld a December 24 ruling by U.S. District Judge Carl Barbier in New Orleans, authorizing the payments on so-called business economic loss claims. It also said an injunction preventing payments should be lifted.

BP drills at 'giant' Gulf field after setback due to spill

By Kristen Hays HOUSTON (Reuters) - BP Plc <BP.L> has begun appraisal drilling in its highly touted Tiber oil prospect in the Gulf of Mexico, the company said on Thursday, more than three years after its massive Macondo blowout and crude spill set back drilling in the basin.

Trial begins against BP over Texas refinery emissions

By Erwin Seba HOUSTON (Reuters) - Trial began on Wednesday in the first four of 48,000 civil lawsuits filed against BP Plc <BP.L> for pollution from the 460,196 barrel per day (bpd) refinery it owned in Texas City, Texas until early this year, according to court documents. The four suits allege that people were harmed when the refinery released vapors into the atmosphere from its hydrocracking unit during a 40-day period in 2010. The city had a population of 45,099 in 2010, according to the U.S. Census.

FERC seeks $29 million from BP over natural gas trading

By Scott DiSavino (Reuters) - U.S. federal energy regulators on Monday ordered BP Plc to respond to allegations of natural gas market manipulation in Texas, threatening the energy company with fines near $29 million. The move likely sets up another major legal battle for the Federal Energy Regulatory Commission (FERC) as it steps up policing of power and natural gas markets.

Appeals court grills BP over spill claims case

By Kathy Finn NEW ORLEANS (Reuters) - BP Plc drew tough questions on Monday from U.S. appeals court judges hearing a complaint by the oil company objecting to the payment of certain claims for damages related to the Gulf of Mexico spill, casting doubt on BP's effort to curb the payouts. BP has said repeatedly this year that the terms of a settlement reached with a class action set of claimants in 2012 are being misinterpreted by Patrick Juneau, the claims administrator, allowing unaffected businesses to receive money.

BP oil spill claims climb ahead of appeal day

LONDON (Reuters) - The number of claims filed against BP Plc's <BP.L> <BP.N> oil spill compensation fund has risen by 18 percent over the last six weeks to a total of 195,403, according to the claims website - even though payouts began almost a year ago and the fund will be accepting claims until next April.

With ad and letter to lawyers, BP mounts offensive in Gulf oil spill settlement dispute

NEW ORLEANS - With an ad blitz and a tersely worded letter, BP is mounting an increasingly aggressive campaign to challenge what could be billions of dollars in settlement payouts to businesses following its 2010 oil spill in the Gulf of Mexico. In letters that started going out Tuesday, BP warns lawyers for many Gulf Coast businesses that it may seek to recover at least some of their clients' shares of the multibillion-dollar settlement if it successfully appeals a key ruling in the legal wrangling spawned by the nation's worst offshore oil spill.

NY City sues BP over Deepwater Horizon spill - Comptroller

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."

UPDATE 2-BP oil spill probe did not address cost overruns -exec

By Kristen Hays NEW ORLEANS, Feb 28 (Reuters) - BP Plc's investigation of its disastrous 2010 Gulf of Mexico blowout did not address the impact of cost overruns on the well, a BP executive said on Thursday, in the final day of testimony this week in the massive civil trial over the spill. Plaintiffs contend that cost concerns prompted crew members on the doomed Deepwater Horizon rig to rush to wrap up the drilling. The executive who led BP's internal investigation said the company did not focus on that angle.

UPDATE 1-BP drilled doomed U.S. well despite early problems -expert

By Kristen Hays NEW ORLEANS, Feb 27 (Reuters) - BP Plc took chances drilling its doomed Macondo well long before it ruptured in 2010, a well design and pressure expert said on Wednesday in the second day of testimony in the civil trial over the Gulf of Mexico oil spill. Alan Huffman, chief technology officer for Fusion Petroleum Technologies Inc, said BP forged ahead with the well in 2009 outside the margin deemed safe by the industry and regulators.
Syndicate content