BP and its partners involved in the Gulf of Mexico oil spill unleashed a $ 100 billion-plus barrage of legal claims one year after the rig explosion slain 11 employees and created an environmental disaster.
On the anniversary of the disaster, BP filed suits totaling more than $ 80 billion by Transocean and Halliburton.
And in a separate action on Wednesday, BP sued Cameron International Corp., the maker of the blowout preventer, called fail-safe device that does not automatically shut down the well. Read more
BP Plc, Europe’s second largest oil company’s, restored the dividend and will sell two U.S. refineries as it recovers from the Gulf of Mexico spilled. BP will pay a dividend of 7 cents per share payable for the last three months of 2010, half the level before the spill, after canceling the payment for the first three quarters. It plans to dispose of its Texas City refinery and Carson.
Chief Executive Officer Robert Dudley is making the company “smaller” and “more agile” after the worst spill in U.S. history that his predecessor Tony Hayward cost his job. The company has already slimmed down by selling $ 22 billion of assets and agreed to an $ 8 billion of stock to be exchanged with OAO Rosneft to improve access to untapped reserves in the Russian Arctic Kara Sea to get. Read more
More than two months after the Obama Administration lifted its ban on drilling in the deep water Gulf of Mexico, oil companies are still waiting for approval to the first new oil drilling there. Experts now expect the wait to proceed until the second half of 2011, and perhaps in 2012.
The administration says it’s just trying to find new security in the wake of the April 20 explosion of the drilling rig Deepwater Horizon, including 11 slain workers and set off the worst offshore oil disaster in U.S. history to compel. Environmental groups say the administration the right to take his time, since the Gulf disaster exposed the risks of offshore drilling.
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Tags: <Deepwater Horizon, drilling, drilling ban, explosion of oil drilling, gulf disaster, oil companies, oil disaster, oil spill deepwater>, Deep Ocean Ascension, How Much Oil Is Drilled In The Gulf Of Mexico, Oil Drilling Water, Bp Qater2011
BP has finally connected to the leaking Macondo well in the Gulf of Mexico – 153 days after an explosion, the death of 11 oil rig workers and caused the worst offshore oil disaster in U.S. history. National Incident Commander Thad Allen said the pit “effectively dead” after a pressure test on the plugs by BP at 5:54 local time.”Additional regulatory steps will be put, but we can now definitively state that the Macondo and no permanent threat to the Gulf of Mexico is,” he added.
The well drained more than 4m gallons of oil before it was temporarily capped on July 15 – a disaster that costs BP chief executive Tony Hayward his work, took £ 45 billion from the market value of BP and brought new drilling in the Gulf to a halt. Approximately 400 lawsuits pending. Read more
Tags: <bp oil spill, Gulf of Mexico, macondo, new drilling project, oil exploration>, Gulf Of Mexico Oil Spill, Bp Oil Spill, Bp Oil Spill 2010, Bp Oil Spill Gulf Of Mexico, Mexico Oil Spill 2010, Oil Spill In The Gulf Of Mexico 2010, Bp Deepwater Horizon, 2010 Bp Oil Spill, Bp Gulf Of Mexico Oil Spill, Oil Spill 2010 Gulf Of Mexico
WASHINGTON – Oil and gas companies in the Gulf of Mexico will have almost 3,500 permanent plug temporarily abandoned wells and approximately 650 production platforms that are no longer used to dismantle the Obama administration announced Wednesday.
The move comes as the energy industry complaints that voting is overloaded in the aftermath of the disaster BP oil in the Gulf.
Iinitial reaction of the American Petroleum Institute was that it was expected the announcement and had worked with the supervisors “in a reasonable time for implementation,” said spokesman Carlton Carroll msnbc.com. “We believe that for most operators, compliance will not be a problem.”
Carroll had no estimate of potential costs to industry, but said one concern is “the ability of companies to the permits required to undertake activities to get decommissioning.” Read more
Massey Energy Co. ‘s Big executive in the mine, where 29 people were killed in an explosion on April 5, violations were more numerous and more serious than the national average, the U.S. Department Labour said in a report to President Barack Obama today. The department had observed Massey and Upper Big Branch close because of its history of violations. Massey totaled $ 515 violations of the mine in 2009 and 124 so far this year with fines of $ 1.1 million, the report shows. (more…)
Many people are considering as an investment for gold prospectors. Gold rose to a greater extent than the miners, largely based on a broad expectation that gold prices will not this current price range to keep. However, no gold prices fall significantly, should narrow this important release. If the rising price of gold occur, then the miners must ultimately benefit dramatically. If they are priced with the expectation that gold should fall, they could soon start to rise in price, even if gold does not. This game of catch-up can be considerable, especially when driven by a quantitative easing any future announcements. (more…)
AUSTIN, Texas – Spectrum Acquisition Holdings, Inc. (Pink Sheets: SPAH), a growing area of exploration, technology and services organization, received a notice of allowance from U.S. Patent and Trademark Office. Spectrum is working on bringing more durable, smaller footprint mining technologies and equipment on the market. The company is pleased to announce patent allowance for its laser guidance system diamond wire stone cutting equipment, more efficient exploitation of mineral resources will allow. (more…)
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