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Oil Rig Explosion

SEC Charges Ex-BP Official for Insider Trading

A veteran BP (NYSE: BP) employee who headed the company's cleanup from the 2010 Deepwater Horizon oil spill has been charged with insider trading for allegedly selling shares illegally after learning the extent of the disaster.The Securities and Exchange Commission said Thursday that Keith A. Seilhan, who coordinated BP's cleanup operations in the wake of the massive spill in the Gulf of Mexico, sold his BP shares just days after receiving non-public information regarding the scope of the accident.He is accused of selling about $1 million worth of shares his family owned in a move that avoided a 48% loss. Seilhan was described by the SEC as an experienced crisis manager who was tasked by BP with overseeing the company's oil skimming operations and its efforts to contain expansion of the spill.The SEC's complaint, filed in federal court in Louisiana, alleges that within days of the April 20, 2010, explosion on an oil rig off the coast of Louisiana, Seilhan received nonpublic information...

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  2. BP To Contest $34 Billion Gulf Suits From State, Local Governments

    BP PLC (BP.LN) plans to "vigorously contest" legal claims for tens of billions of dollars in damages stemming from the 2010 Gulf of Mexico disaster, describing the l...

  3. Court Approves $4 Bln BP Spill Settlement: Report

    A federal judge has approved a settlement that calls for BP PLC plead guilty to manslaughter and pay $4 billion in penalties for its part in a 2010 oil spill that wr...

  4. Worker Burned In Oil-rig Fire Dies

    One of the men who was severely burned in the explosion and fire at an oil rig in the Gulf of Mexico last week died Friday, the Associated Press reports. Avelino Taj...

  5. BP reaches record settlement with Justice Department

    Oil company agrees to pay $4.5 billion in plea deal

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