Fox Business - The Power to Prosper
Search Site

Vessels of Opportunity

Related Topics

  1. Gulf Oil Spill
  2. Oil Spill
  3. Gulf Oil Platform Explosion
  4. BP
  5. Deepwater Horizon
  6. Exxon Valdez Oil Spill
Get updates on Vessels of Opportunity
Analysis: BP's legal gamble may trim spill bill by billions

BP Plc's attempt to get a U.S. federal court to pin at least a sizeable amount of the blame for the Deepwater Horizon disaster on other companies may have saved it billions of dollars.After failing to settle claims from the 2010 Gulf of Mexico spill through negotiations, the British oil company opted in February to go to trial with plaintiffs ranging from small businesses to the U.S. government over the damages it will face.The decision rests with U.S. District Court Judge Carl Barbier, who could issue findings on blame and the level of negligence as early as July.Legal experts say BP appeared to succeed in shifting some of the blame for the disaster to rig owner Transocean Ltd and cement provider Halliburton Co . In doing so, it may have shaved a slice off a liability that could stretch into the tens of billions of dollars.BP "put their faith in the hands of the court," said Blaine LeCesne, a tort law professor at Loyola University in New Orleans who has followed the trial closely. "I...

Read More ›

  1. Exxon pipeline leaks thousands of barrels of Canadian oil in Arkansas

    Exxon Mobil was working to clean up thousands of barrels of oil in Mayflower, Arkansas, after a pipeline carrying heavy Canadian crude ruptured, a major spill likely...

  2. BP Expects Gulf Spill Claims to Climb

    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 disas...

  3. 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 disas...

  4. BP CEO Awarded $837,000 Bonus Taking 2012 Pay Package To $2.67 Million

    BP PLC (BP.LN) awarded Chief Executive Bob Dudley a cash bonus of $837,000 on top of an annual salary of $1.726 million, the company's annual report for 2012 showed ...

  5. U.S. Gulf Coast oil spillers about to face day in court

    Nearly three years after a deepwater well rupture killed 11 men, sank a rig and spewed 4 million barrels of oil into the Gulf of Mexico, BP and the other companies i...

  6. U.S. Senator Asks DOJ to Wait on Civil Settlement of BP Oil Spill Charges

    Sen. David Vitter (R., La.) is asking the U.S. Justice Department to hold off on a civil settlement with BP Plc (BP, BP.LN) over the Deepwater Horizon accident until...

  7. 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...

  8. U.S. Interior Head Salazar to Leave Administration

    U.S. Interior Secretary Ken Salazar, who helped lead the government's response to the largest offshore oil spill in U.S. history, will announce he is stepping down f...

  9. Federal Judge Approves Medical Portion of $7.8 Billion BP Settlement

    A federal judge in New Orleans has granted final approval to the medical-benefits portion of BP PLC's (BP, BP.LN) $7.8 billion settlement to resolve claims related t...

  10. BP Banned From New U.S. Government Contracts

    The U.S. temporarily suspended BP (NYSE:BP) and its affiliates on Wednesday from striking any new government contracts until it can prove operations are up to certai...

  11. BP agrees to record criminal penalties for U.S. oil spill

    BP Plc will pay $4.5 billion in penalties and plead guilty to criminal misconduct in the Deepwater Horizon disaster, which caused the worst U.S. offshore oil spill e...

  12. Factbox: BP's outstanding liability for U.S. oil spill

    BP Plc's agreement on Thursday to pay the U.S. government $4.5 billion is a big step toward resolving its liability for the Gulf of Mexico oil spill in 2010.But the ...

  1. Some Residents Allowed To Return Following Mayflower Oil Spill

    Residents of four homes evacuated following an oil spill in Mayflower, Ark., are being allowed to return as work to clean up the oil progresses, Exxon Mobil Corp. (X...

  2. Ruling against BP clears way for appeal of spill payouts

    A U.S. judge's ruling Friday against BP Plc means the company can proceed with its appeal of the way a court-appointed administrator apportions payments for claims r...

  3. Judge denies BP appeal over Gulf spill payouts

    A judge again upheld an agreement to pay individuals and businesses for claims related to BP Plc's 2010 Gulf of Mexico spill, as the oil company seeks to avoid the p...

  4. Shell Pipeline Spills Oil Into Houston Area Bayou -Coast Guard

    An estimated 50 barrels of oil spilled from a pipeline operated by a subsidiary of Royal Dutch Shell PLC (RSDA.LN, RDSA) into a waterway outside Houston, according t...

  5. Shell Pipeline Spills Oil Into Houston Area Bayou - Coast Guard

    An estimated 50 barrels of oil spilled from a pipeline operated by a subsidiary of Royal Dutch Shell PLC. (RSDA.LN, RDSA) into a waterway outside Houston, according ...

  6. BP spill claims administrator urges dismissal of lawsuit

    The administrator of BP Plc's settlement with thousands of people and businesses who sued over the 2010 Gulf of Mexico oil spill urged a federal judge on Monday to e...

  7. Exxon May Excavate Damaged Arkansas Pipeline

    Exxon Mobil Corp. (XOM) is developing a plan to excavate the portion of a pipeline that leaked thousands of barrels of oil into a residential neighborhood in a small...

‹ Prev12345…Next ›
Freebase CC-BY
Source: Vessels of Opportunity on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL