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Drinking water intakes closed after oil spill shuts down 65 miles of Mississippi River

An oil spill has shut down a 65-mile stretch of the Mississippi River between Baton Rouge and New Orleans. Public drinking water intakes were shut down in St. Charles Parish as a precaution, officials said, and the Port of New Orleans was also closed. Officials assured the public that drinking…

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 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…

Thai navy deployed to fight oil pipeline leak in the Gulf of Thailand

Thai naval vessels joined efforts Sunday to stop hundreds of barrels of oil from a pipeline leak in the Gulf of Thailand reaching the kingdom’s beaches. Roughly 50,000 litres of crude oil spilled into the sea on Saturday about 20 kilometers (12 miles) off the coast of the eastern province…

U.S. to propose $16 billion Gulf spill settlement with BP: WSJ

US authorities plan to propose a $16 billion settlement to British energy giant BP for civil claims related to the disastrous 2010 oil spill in the Gulf of Mexico, The Wall Street Journal said. Citing people familiar with the discussions, the newspaper said late Friday that the settlement would cover…

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…

Oil safety weak two years after BP spill: studies

WASHINGTON — Offshore drilling safety and oversight is still lacking two years after the massive BP oil spill sullied the US Gulf Coast, two reports released Tuesday have found. A presidential commission tasked with investigating the spill said it was “encouraged by the progress being made” by the oil industry…

Arctic oil rush will ruin ecosystem, warns Lloyd’s of London

Insurance market joins environmentalists in highlighting risks of drilling in fragile region as $100bn investment is predicted Lloyd’s of London, the world’s biggest insurance market, has become the first major business organisation to raise its voice about huge potential environmental damage from oil drilling in the Arctic. The City institution…

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…

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