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NY City sues BP over Deepwater Horizon spill - Comptroller

April 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."

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

February 28, 2013 19:00
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

February 27, 2013 18:30
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.

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

February 27, 2013 14:15
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 drilling the well in 2009 outside the margin considered safe in the industry and by regulators.

UPDATE 2-BP accepts role in spill at trial, aims to spread blame

February 26, 2013 15:30
By Kristen Hays NEW ORLEANS, Feb 26 (Reuters) - After hearing claims that BP Plc put profits above safety in the first day of court testimony over the 2010 Gulf of Mexico disaster, a senior executive for the oil company insisted the blame should be shared. Lamar McKay, BP's global head of exploration, production and development, said on Tuesday the company's role as designated operator on the doomed Macondo well did not mean it was the only company at fault.

UPDATE 4-BP, contractors start trial for worst US offshore spill

February 25, 2013 19:30
By Kristen Hays NEW ORLEANS, Feb 25 (Reuters) - A long-awaited trial over the biggest U.S. offshore oil spill began on Monday, with governments, businesses and individuals blaming BP Plc mostly for the 2010 disaster that killed 11 rig workers and spilled 4 million barrels of oil into the Gulf of Mexico. "Not only was it within BP's power to prevent the tragedy, it was its responsibility," Assistant U.S. Attorney Mike Underhill said at the trial over legal culpability for the blowout and spill.

UPDATE 2-BP execs go on trial for biggest U.S. oil spill

February 25, 2013 16:11
By Kristen Hays NEW ORLEANS, Feb 25 (Reuters) - People, businesses and governments harmed in the biggest oil spill in U.S. history got their day in court on Monday, blaming BP executives for the Deepwater Horizon disaster that killed 11 rig workers and spilled millions of barrels of oil into the Gulf of Mexico in 2010.

UPDATE 1-U.S. Gulf Coast oil spillers about to face day in court

February 21, 2013 22:00
By Kristen Hays and Braden Reddall Feb 21 (Reuters) - Nearly three years after a deepwater well rupture killed 11 men, sank a rig and spewed 4 million barrels of oil into the Gulf of Mexico, BP and the other companies involved are scheduled to face their judge in court. The trial over the worst U.S. offshore oil spill is set to start Monday in New Orleans before a federal judge and without a jury. Few expect the case, seen lasting several months, will be decided by the judge.

BP, Reliance plan $5 bn investment for India gas field

February 19, 2013 12:01
BP Plc and Reliance Industries Ltd Tuesday announced plans to invest over $5 billion to reverse a decline in output from India's biggest natural gas reservoir in the Bay of Bengal. The energy partners, who tied up two years ago, said they would jointly invest in a string of projects to develop four trillion cubic feet of gas resources from the D6 block in the Krishna-Godavari basin to supply energy-hungry India.

BP, Reliance plan $5 investment to develop India gas field

February 19, 2013 10:45
BP Plc and Reliance Industries Ltd Tuesday announced plans to invest over $5 billion to reverse a decline in output from India's biggest natural gas reservoir in the Bay of Bengal. The energy partners, who tied up two years ago, said they would jointly invest in a string of projects to develop four trillion cubic feet of gas resources from the D6 block in the Krishna-Godavari basin to supply energy-hungry India.
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