RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2015-07-01 18:55:00

BP FULL LIABILITY $13.7 BLN

BP FULL LIABILITY $13.7 BLN

The U.S. Supreme Court refused to hear an appeal from oil majors BP and Anadarko Petroleum leaving intact a lower court ruling that makes the firms potentially liable for billions of dollars in fines for the disastrous oil spill in the Gulf of Mexico in 2010.

The high court decided to let a ruling by U.S. District Judge Carl Barbier that BP and Anadarko were automatically liable as co-owners of the Deepwater Horizon oil rig stand. A decision to consider the case could have resulted in a delay in Barbier's anticipated ruling on a government request for up to $13.7 billion in civil fines from BP and over $1 billion from Anadarko.

Statements from parties involved

"Today's ruling is a huge victory for the Gulf, and should finally put to rest BP's two-year attack on its own settlement," lead plaintiffs' attorneys Stephen J. Herman and James P. Roy noted in an email to the media.

"We're pleased with the decision," Wyn Hornbuckle, a Justice Department spokesman, commented in an e-mail Monday afternoon.

BP spokesman Goeff Morrell said in a statement that the firm remains concerned "that the program has made awards to claimants that suffered no injury from the spill — and that the lawyers for these claimants have unjustly profited as a result."

Morrell continued to say, "We will therefore continue to advocate for the investigation of suspicious or implausible claims and to fight fraud where it is uncovered."

More on BP / Anadarko Supreme Court ruling

The Supreme Court's decision makes the economic and property damage settlement final, starting a six-month deadline for filing claims, plaintiffs' attorney Joe Rice pointed out.

Of note, BP and Anadarko requested the court to consider whether people and businesses looking for payments under the settlement included a number of parties who have not suffered any injury related to the spill.

Both a district court and an appeals court had ruled earlier that BP's settlement meant businesses on the gulf do not have to prove they were directly harmed by the spill to make a claim, they only have to prove they made less money in the three to eight months after the spill than in a comparable span before the spill.

valuewalk.com

Tags: BP, OIL, GULF, BRITISH, PETROLEUM
Chronicle:
BP FULL LIABILITY $13.7 BLN
2021, June, 10, 12:39:00
Which Actions Can Fuel The Industry: The 7th International LNG Congress Summary
Global view on the LNG industry future, actions in frames of IMO Regulations, alternative fuels for trucks and fleet, opportunities of LNG increase in Europe, and Bio-LNG and LNG-to-Power initiatives have become some of the topics of the 7th International LNG Congress. It was held at the BGS online platform on the 7-8 of June, and gathered more than 500 decision-makers of the LNG industry.
BP FULL LIABILITY $13.7 BLN
2021, June, 10, 12:38:00
МЕЖДУНАРОДНАЯ КОНФЕРЕНЦИЯ И ВЫСТАВКА "УГОЛЬ РОССИИ И СНГ"
Более 150 руководителей ведущих предприятий угольной промышленности России и СНГ соберет Международная конференция и выставка «Уголь России и СНГ», которая будет проходить 16-17 ноября 2021 в г. Москва Организатор мероприятия: Vostock Capital
BP FULL LIABILITY $13.7 BLN
2021, June, 10, 12:35:00
U.S. OIL INVENTORIES DOWN 5.2 MB TO 474.0 MB
U.S. commercial crude oil inventories decreased by 5.2 million barrels from the previous week to 474.0 million barrels.
BP FULL LIABILITY $13.7 BLN
2021, June, 10, 12:30:00
TC ENERGY HAS TERMINATED KEYSTONE
TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) confirmed today that after a comprehensive review of its options, and in consultation with its partner, the Government of Alberta, it has terminated the Keystone XL Pipeline Project (the Project).
BP FULL LIABILITY $13.7 BLN
2021, June, 9, 12:55:00
OIL PRICE: ABOVE $72
Brent rose 73 cents, or 1%, to close at $72.22 a barrel, WTI rose 82 cents, or 1.2%, to settle at $70.05 a barrel,
BP FULL LIABILITY $13.7 BLN
2021, June, 9, 12:50:00
OIL PRICES 2021-22: $68-60
EIA forecasts that Brent prices will remain near current levels in 3Q21, averaging $68/b., and $60/b in 2022.
BP FULL LIABILITY $13.7 BLN
2021, June, 9, 12:45:00
OPEC+ OIL PRODUCTION UP 430 TBD
Despite the production gains, the looser quotas meant OPEC+ compliance stayed mostly steady at 111.45% compared to 111.16% in April,
All Publications »