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BP expected to agree on $20-25 billion oil spill deal with DoJ
LONDON (Reuters) – Oil giant BP will likely agree to pay the U.S. Department of Justice $20-$25 billion next month to settle all civil and criminal charges around the Deepwater Horizon rig blast and Gulf of Mexico oil spill, a leading industry analyst predicted on Thursday. Martijn Rats, head of…
BP gets nod to renew drilling in Gulf of Mexico
WASHINGTON — British oil giant BP received approval Friday to restart drilling in the Gulf of Mexico, 18 months after a BP well blowout killed 11 and released millions of barrels of crude into the ocean. The US Bureau of Ocean Energy Management, of the Department of the Interior, said…
U.S. to let BP bid on Gulf of Mexico leases
NEW YORK — The United States said it will allow British oil giant BP to bid on new oil-drilling leases in the Gulf of Mexico due to go on sale later this year, less than two years after a devastating spill. US offshore safety chief Michael Bromwich told lawmakers that…
BP finds more oil in US Gulf of Mexico field
British oil giant BP announced Wednesday a major oil find in the US Gulf of Mexico that it said underscores the development potential of the region. An appraisal well drilled in an untested northern segment of the Mad Dog field found “a significant resource extension” for the Mad Dog Field…
Investigation shows Deepwater Horizon crew ignored warnings
The crew of an oil rig that exploded in the Gulf of Mexico last year causing one of the worst oil spills in US history ignored warning signs a disaster was imminent, an investigator said Friday. Marshall Islands deputy maritime affairs commissioner Bill Gallagher, who carried out an inquiry into…
Leak forces new delay to BP oil cap test
NEW ORLEANS, Louisiana (AFP) – Oil giant BP detected a leak Thursday in equipment to seal the catastrophic Gulf of Mexico gusher, forcing another delay to the start of crucial tests on a new tighter-fitting cap. After finally getting the green light to begin pressure tests, BP said it would…
Senators: Did BP help secure Lockerbie bomber’s freedom?
US senators urged US Secretary of State Hillary Clinton on Tuesday to investigate whether oil giant BP pressed Britain to free the Lockerbie bomber to protect a lucrative deal with Libya. “Evidence in the Deepwater Horizon disaster seems to suggest that BP would put profit ahead of people,” said Democratic…
BP, Coast Guard withheld video showing massive scope of oil spill
Federal officials and the oil giant BP effectively conspired to keep the worst images of the oil leak in the Gulf of Mexico from the public, according to a report Thursday. The US Coast Guard, which is coordinating response efforts to the spill on behalf of the government, had hours…
Gallup poll shows largest GOP congressional lead of race
Republicans have taken the largest lead in the 2010 Congressional election cycle in a generic poll that tests would-be voters’ party loyalties. Gallup’s poll has shown the two parties neck and neck in recent days. But in a release today, the polling agency said they saw “Republicans moving back ahead…
Goldman Sachs sold $250 million of BP stock before spill
Firm’s stock sale nearly twice as large as any other institution; Represented 44 percent of total BP investment The brokerage firm that’s faced the most scrutiny from regulators in the past year over the shorting of mortgage related securities seems to have had good timing when it came to something…
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