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'Worst Case' BP Ruling on Spill Means Billions More in Fines
2014-09-04 23:28:28| Oil & Gas - Topix.net
BP Plc faces billions more in potential penalties after a judge found it acted with gross negligence in the 2010 Gulf of Mexico oil spill, dealing a blow to the company's efforts to expand its drilling program as costs rise and production slips. In a turning point after four years of legal wrangling over responsibility, U.S. District Judge Carl Barbier's ruling laid the bulk of the blame on BP for the explosion, which killed 11 men and caused the largest offshore oil spill in U.S. history.
Judge: BPa s reckless conduct caused Gulf oil spill
2014-09-04 18:03:15| Oil & Gas - Topix.net
BP bears the majority of responsibility among the companies involved in the nation's worst offshore oil spill, a federal judge ruled Thursday, citing the energy giant's reckless conduct in a ruling that exposes the company to billions of dollars in penalties. BP PLC already has agreed to pay billions of dollars in criminal fines and compensation to people and businesses affected by the disaster.
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Judge's ruling on Gulf oil spill could cost BP billions
2014-09-04 18:03:14| Oil & Gas - Topix.net
U.S. District Judge Carl Barbier's ruling today could nearly quadruple the amount of civil penalties for polluting the Gulf of Mexico with oil from BP's Macondo well in 2010. Barbier presided over a trial in 2013 to apportion blame for the spill that spewed oil from April 20 to mid-July 2010.
Halliburton to Pay $1.1 Billion Settle Damages in Gulf of Mexico Oil Spill
2014-09-03 04:41:29| Climate Ark Climate Change & Global Warming Newsfeed
New York Times: Halliburton, the company contracted by BP to cement the ill-fated Macondo oil well in the Gulf of Mexico, has reached a $1.1 billion settlement with thousands of businesses, individuals and local governments that suffered losses from the 2010 Deepwater Horizon oil rig explosion, the company and plaintiffs announced on Tuesday. The settlement represents a small fraction of the damages paid out by the companies involved in the accident, which left 11 workers dead, spilled millions of gallons of...
Halliburton reaches $1.1bn settlement over Deepwater Horizon oil spill
2014-09-03 00:31:00| Climate Ark Climate Change & Global Warming Newsfeed
Guardian: Halliburton Co, North Americas top oilfield services provider, said it reached a $1.1bn settlement for a majority of claims related to its role in BPs fatal oil spill in the Gulf of Mexico in 2010. The settlement, which includes legal fees, is subject to approval by the US District Court for the Eastern District of Louisiana, Halliburton said. The amount, to be paid in three installments over the next two years, will be put into a trust until all appeals are resolved, the company said. We...
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