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Gulf Oil Spill Clean-up

BP Expects Some US Gulf Oil Spill Claims To Be Higher Than Anticipated

BP PLC (BP.LN) now expects to pay more than previously anticipated in compensation for private economic and property damage stemming from the Deepwater Horizon disaster in the Gulf of Mexico, according to the company's annual report.This is because average payments for business economic loss claims so far have been higher than anticipated, the company said. BP said this means it can no longer give a reliable estimate for the total cost of the settlement it agreed last year with the plaintiffs' steering committee--a group representing individuals with economic, property or medical damage claims--other than to say it will be significantly higher than $7.7 billion.In a speech earlier this week BP Chief Executive Bob Dudley said the company has spent over $24 billion in response, including clean-up and restoration costs and in payments on claims made by individuals, businesses and governments for the 2010 disaster. This latest escalation in the cost of the disaster, which killed 11 men and...

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  1. Admiral Zukunft on Cleaning Up the Gulf

    Rear Admiral Paul Zukunft on what remains of the Gulf oil spill and how he plans to continue the clean-up effort.

  2. "Static Kill" a Success?

    We break down whether the "static kill" method will permanently stop oil from leaking out of the well.

  3. Where Did All the Oil Go?

    FBN's Jeff Flock weighs in on where the 170 million gallons of oil could be in the Gulf.

  4. Economic Impact of Oil Spill

    Marisa Di Natale, directior of Moody Analytics, on the job losses from the oil spill and drilling moratorium.

  5. Markets Lower Ahead of Earnings Season

    FBN’s Robert Gray on how stocks are performing as earnings season begins.

  6. BP Looks To Unload Assets

    FBN's Robert Gray on what the oil giant may be selling and Alcoa kicks off earnings season after the bell.

  7. The Heat Is On for Obama Administration

    Professor Peter Morici breaks down the why current economic problems are getting ready boil over.

  8. GOP Report Alleges Administration Misrepresenting Oil Spill Facts

    Rep. Darrell Issa, (R-CA), on the White House’s mismanagement of the cleanup efforts.

  9. Kevin Costner Talks Gulf Clean-Up at Capitol

    Small Business Center»Human Resources»Networking»Entrepreneurs»Finance»Strategy»Technology»Video»Strategy Strategy Kevin Costner Talks Gulf Clean-Up at CapitolBy Pet...

  10. DC Report: House Passes Small Business Aid Legislation

    Congress moves forward on legislation aimed at helping small businesses borrow and grow.

  11. Small Businesses Adapt, Evolve Amid Oil Spill

    Small Business Center»Human Resources»Networking»Entrepreneurs»Finance»Strategy»Technology»Video»Strategy Strategy Small Businesses Adapt, Evolve Amid Oil SpillBy Su...

  12. Obstacles to the Oil Spill Cleanup

    "Physics of the Impossible" Author Michio Kaku on the challenges of cleaning up the oil spill.

  1. Judge approves BP agreement for Gulf oil spill

    A U.S. judge has accepted an agreement by BP Plc to plead guilty for its role in the Deepwater Horizon disaster and pay $4.0 billion in penalties for the worst offsh...

  2. Analysis: Catch-up time as BP eyes closure on Russia, spill

    International oil company BP , weakened and distracted by its troubles in the United States and Russia, is in danger of losing touch with the leaders in an industry ...

  3. Can Anything Ease Pain at the Pump?

    Stephen Schork, The Schork Report editor and founder, with his take on Iran and oil prices, plus what can help drive these prices back down.

  4. Criminal Charges Readied in BP Spill Case

    FBN's Elizabeth MacDonald on the criminal charges being readied in the case against BP over the 2010 Gulf oil spill , and the company's defense.

  5. Taxpayers on the Hook for BP's Gulf Spill

    The oil hearings last week revealed that BP (NYSE:BP) is moving to cut its tax bill by about $11.8 billion by writing off the costs of its devastating oil spill in t...

  6. Justice Dept. Sues BP, Anadarko, Transocean for Gulf Oil Spill

    The U.S government filed a lawsuit against BP (NYSE:BP), Anadarko Petroleum (NYSE:APC), Transocean (NYSE:RIG) and several others Wednesday, alleging that the compani...

  7. BP Reimburses $520M to Feds for Oil Spill

    BP (NYSE:BP) has repaid the federal government approximately $520 million related to the cost of this summer’s Gulf of Mexico oil spill, according to a report releas...

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