A federal judge on Thursday said BP Plc Transocean Ltd. to compensate for a number of compensatory claims over the 2010 Gulf of Mexico oil spill. U.S. District Judge Carl Barbier, who oversees Multistate disputes over the spill, agreed with the Transocean drilling Swiss master was not responsible for compensation claims by third parties for oil spill below the ocean surface. He ruled, however, that the London-based BP does not indemnify Transocean punitive damages or civil penalties imposed by the U.S. government under the federal Clean Water Act. Read more
BP Plc can not collect from Transocean Ltd. part of the $ 40 billion clean-up costs and economic damage caused by the 2010 oil well blowout and spill the Gulf of Mexico, a judge ruled, sending shares higher Transocean. BP to Transocean for pollution-related economic damage claims arising from its drilling contract to indemnify, U.S. District Judge Carl Barbier in New Orleans ruled yesterday. London-based BP sued Transocean in April, a part of his damages and costs to repair the leak. Read more
The owner of the drilling rig Deepwater Horizon does not have to damages relating to oil spills in the ocean in the worst offshore spill in U.S. history to pay, a judge ruled Thursday. BP PLC is required for Transocean Ltd., the owner of Deepwater Horizon, harmless against any damages related to the 2010 spill in the Gulf of Mexico, U.S. District Judge Carl Barbier in New Orleans ruled. Judge Barbier maintained portions of Transocean’s indemnity agreement with BP, which was leasing Deepwater Horizon rig Transocean, Transocean shares, it is not liable for damage claims for oil spills under the surface of the ocean. Read more
Maria das Gracas Foster, the first woman appointed as one of the world’s top five oil companies run, the industry’s largest investment plan with Petroleo Brasileiro SA’s $ 225 billion proposal to more than double its capacity by the end of the decade . Petrobras, as the world’s fifth largest oil producer by market value is known, yesterday announced the decision to promote Foster’s chief executive officer resigned after Jose Sergio Gabrielli to a career in politics to pursue. A 34-year veteran of the Rio de Janeiro-based company, Foster is currently the natural gas and power division, the fastest growing region Petrobras last year. Read more
Blow-out company BP pays £ 160m for Gulf oil spill. BP receives a $ 250m (£ 161m) payment of Cameron International, a contractor on the Macondo well, in settlement of their dispute over liability for the Gulf of Mexico oil spill. Cameron made the blow-out preventer, which proved ineffective in the Deepwater Horizon rig. This is the fourth office BP has made a partner in the project. Read more
MELBOURNE – Global miner Rio Tinto Ltd (RIO.AX) (RIO.L) said on Wednesday it was concerned that other countries could lead to Australia by the introduction of a windfall tax on mining profits to follow. Australia new super profits, due to come into force in mid 2012, has angered the mining industry, which has warned that leads me expansions in danger and could push foreign investment. (more…)
Allied Gold Limited has extinguished the last 30,000 ounces of a gold hedging programme, giving the company full price participation in the 75-000-80,000 ounces it expects to produce in 2010 from the Simberi gold mine in Papua New Guinea. (more…)
Transmission ocean Ltd. ‘s highest ranking employee on the drilling rig Deepwater Horizon refused to testify in civil lawsuits over the blowout that 11 workers slain causes the worst offshore oil disaster in U.S. history, according to court records.
Jimmy Wayne Harrell, the rig of the offshore installation manager, was responsible for drilling activities in the Deepwater Horizon, that exploded April 20, 2010, while drilling a BP Plc off the coast of Louisiana. Harrell, the point man between BP and the drilling crew, federal investigators told the public hearings in New Orleans last year that he ordered the rig while drilling. (more…)
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