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BP to argue government charged ‘excessive’ fines for Deepwater Horizon spill
British energy giant BP on Tuesday vowed to “vigorously defend” itself in court next week over US government claims for “excessive” fines linked to the 2010 Gulf of Mexico oil spill disaster. “BP will vigorously defend against gross negligence allegations,” the energy giant said ahead of the start of a…
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…
Judge approves BP’s $4.5 billion plea deal over Gulf oil spill
A US judge on Tuesday approved a $4.5 billion deal in which BP pleaded guilty to criminal charges from the 2010 Gulf of Mexico oil spill — but the British energy giant’s legal woes are far from over. BP is set to return to the Louisiana courthouse on February 25…
BP in ‘advanced discussions’ to settle Gulf spill
British energy giant BP said on Thursday it was in advanced discussions to settle open criminal and regulatory cases with US authorities over the 2010 Gulf of Mexico oil spill disaster. “BP confirms that it is in advanced discussions with the United States Department of Justice and the Securities &…
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…
BP must pay some of Halliburton’s Gulf spill costs
WASHINGTON — A US court ordered British oil giant BP Tuesday to pay oilfield services company Halliburton for some of the claims stemming from the massive 2010 Gulf of Mexico oil spill. In a ruling in Louisiana on Tuesday, a federal judge ruled BP must “indemnify Halliburton for third party…
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