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BP wins reprieve over compensation for oil spill

A U.S. court has given BP a boost in its fight to limit how much it must pay in compensation for the 2010 oil spill disaster in the Gulf of Mexico. An appeals court in New Orleans ruled on Wednesday that payments to some companies with disputed loss claims arising…

Judge awards $400 million in settlement against rig operator for Deepwater Horizon spill

A US judge approved Thursday a $400 million settlement in criminal penalties against the rig operator involved in the 2010 Gulf of Mexico oil spill, the worst environmental disaster in American history. The punishment was part of a plea bargain agreement reached last month by rig owner Transocean and the…

Gulf’s dolphins pay heavy price for Deepwater Horizon oil spill

New studies show impact of BP’s Deepwater Horizon disaster on dolphins and other marine wildlife may be far worse than feared.  A new study of dolphins living close to the site of North America’s worst ever oil spill – the BP Deepwater Horizon catastrophe two years ago – has established…

BP swings into huge profit before U.S. criminal trial

BP returned to profit with a bang last year, posting net earnings of $23.9 billion on Tuesday as the British energy giant prepares for a criminal trial linked to the US Gulf of Mexico oil spill disaster. BP announced adjusted profit after tax equivalent to 18.2 billion euros for 2011, as higher oil…

BP gets $250 million from Gulf of Mexico subcontractor

British energy giant BP said on Friday it will receive $250 million (£161 million) from a subcontractor on the Gulf of Mexico oil well which blew out last year, using the money to cover its massive clean-up costs. BP said it reached agreement with Cameron International Corp., the designer and…

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