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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…
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…
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…
U.S. set to sanction BP, contractors
WASHINGTON (Reuters) – The U.S. offshore drilling regulator could issue sanctions as early as next week against BP and the major contractors involved in last year’s Gulf oil spill, an agency official said on Thursday. Michael Bromwich, the head of the Bureau of Ocean Energy Management, told reporters at a…
BP sues Gulf rig firm, shifting blame for oil spill
LONDON (AFP) – BP is taking legal action to shift the blame for the Gulf of Mexico oil disaster which devastated the environment and the group’s image a year ago, suing rig operator Transocean for damages of $40 billion (24 billion pounds). The disaster threatened to ruin BP as a…
BP complains about Gulf spill compensation: report
WASHINGTON — BP is filing a strongly worded complaint with the administrator of a $20-billion fund to compensate victims of the Gulf oil spill, saying his proposed settlements are too generous, The New York Times reported Thursday. In a 25-page statement that is to be filed later in the day…
Ask the Patriarchy: Should I care about the oil spill?
I know, I know, it seems like a dumb question. But there are actually some bros who care about all this namby pamby enviro crap. Do they have a point, or are they just faking it to get some tail? You ask, the Patriarchy answers in Ask the Patriarchy:…
Attorney General: Criminal probe of Gulf oil spill began ‘some weeks ago’
Update: Obama promises criminal probe into Deepwater Horizon disaster Calling for a “full and vigorous accounting” of the facts, President Obama demanded Tuesday that the ongoing probe into the Deepwater Horizon disaster keep open to the possibility of criminal charges. “They have my full support to follow the facts wherever…
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