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Shareholders’ lawsuit against BP gets May 2015 trial date

By Nate Raymond (Reuters) – A U.S. judge set a May 2015 trial date on Friday for BP Plc to face claims in a lawsuit accusing the company of misleading investors about the severity of the 2010 Gulf of Mexico oil spill. U.S. District Judge Keith Ellison in Houston set…

Federal appeals court says British Petroleum must face fines for gulf oil spill

By Jessica Dye (Reuters) – A U.S. appeals court on Wednesday said BP Plc and Anadarko Petroleum Corp must face penalties under federal pollution laws in connection with the 2010 Gulf of Mexico oil spill, which could expose the companies to billions of dollars in potential fines. The 5th U.S.…

Federal appeals court: BP cannot block payments on Gulf spill loss claims

By Jonathan Stempel (Reuters) – A divided U.S. appeals court on Monday rejected BP Plc’s bid to block businesses from recovering money over the 2010 Gulf of Mexico oil spill, even if they could not trace their economic losses to the disaster. By a 2-1 vote, the 5th U.S. Circuit…

Federal judge rejects British Petroleum’s challenge to $7.8 billion settlement

A US federal judge has rejected a bid from BP to require companies prove their losses are directly linked to the 2010 massive Gulf of Mexico oil spill before getting a payout. The British energy giant last year reached a $7.8 billion settlement with thousands of people and businesses hit…

BP profits cut in half since Gulf oil spill

British energy giant BP said Tuesday that net profits slumped by more than half in 2012, as the group was rocked by fines and asset sales linked to the 2010 Gulf of Mexico oil spill disaster, ahead of a US trial later this month. Earnings after taxation tumbled 54 percent…

BP boosted by oil spill settlement

LONDON (Reuters) – Shares in BP rose over 2 percent on Monday after the oil giant reached a settlement with businesses and individuals impacted by the Gulf of Mexico oil spill worth an estimated $7.8 billion. Some analysts said the expected payout was less than they had forecast, reduced legal uncertainty and suggested the final settlement with BP’s…

BP reaches $7.8 billion settlement over US oil spill

Oil giant BP has reached a $7.8 billion (5.9 billion euro) deal to settle thousands of claims from the 2010 Gulf of Mexico oil spill, but some of the victims said Saturday that the money won’t bring the disaster to a close. The settlement announced late Friday does not affect what is anticipated…

BP reaches deal with plaintiffs over Gulf of Mexico spill

NEW YORK (Reuters) – BP PLC has reached a $7.8 billion agreement with plaintiffs suing over the massive 2010 Gulf of Mexico oil spill, according to a court order on Friday, but the company still faces claims by the U.S. government and drilling partners. BP said the cost of the…

BP discussing $14 billion settlement

BP and lawyers for individuals and companies claiming damages from the massive 2010 Gulf of Mexico oil spill are discussing a possible $14 billion settlement, the Wall Street Journal reported Tuesday. The newspaper said the settlement, which could be announced Tuesday, would be paid out from what remains of a $20 billion compensation fund set up…

BP says U.S. oil spill trial could ‘last until 2014′

LONDON — British energy giant BP is prepared for a multi-billion-dollar US legal case into the massive Gulf of Mexico oil spill to last until 2014, its chief executive told the Sunday Telegraph. The London-listed company heads to a US court on Monday in an attempt to determine how much…

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