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BP can absorb new oil spill fine, analysts say

2014-09-05 12:34:39| Apparel - Topix.net

BP should be able to meet the cost of up to $18 billion of new fines for the 2010 Gulf of Mexico oil spill without major asset sales or a big cut in its dividend, analysts say. The oil group's shares dropped nearly 6 percent on Thursday after U.S. District Judge Carl Barbier in New Orleans, Louisiana, said it was "grossly negligent" in the April 20, 2010, rig explosion and spill that killed 11 workers.

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BP's reckless conduct caused Deepwater Horizon oil spill, judge rules

2014-09-04 23:59:00| Climate Ark Climate Change & Global Warming Newsfeed

Associated Press: BP bears the majority of responsibility among the companies involved in the Deepwater Horizon oil spill, a federal judge ruled Thursday, citing the energy giants reckless conduct over the disaster in a ruling that exposes it 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, the worst-ever US oil spill. But US district Judge Carl Barbiers ruling could nearly quadruple...

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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.

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