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
BP, running weeks behind schedule and tens of millions of dollars on the budget in an attempt to troubled Macondo good finish in the Gulf of Mexico, took many shortcuts that have contributed to the disastrous explosion and oil spill last year, federal investigators concluded In a report released on Wednesday.
The central cause of the explosion aboard the rig Deepwater Horizon was a failure of the cement at the foot of the 18,000-foot well that was supposed to oil and gas in the well bore contain. This led to a cascade of human and mechanical errors that allowed gas under tremendous pressure to shoot at the drilling platform, causing an explosion and fire that 11 of the 126 crew members slain, causing an oil spill that took 87 days to control get. Read more
Exxon Mobil Corp. (XOM), the world’s largest oil company by market value, estimated the cost to July 1 spacious single oil spill in the Yellowstone River in Montana is $ 42.6 million, according to a filing with federal regulators. The company’s emergency response to the spill from the Silvertip pipeline will cost $ 40 million and $ 2.5 million property claims, the company said in a July 29 filing with the Ministry of Transport and Pipeline Hazardous Materials Safety Administration. Exxon also lost approximately $ 100,000 from oil and other commodities in the spill, according to documents obtained by Bloomberg News through a Freedom of Information Act request. Read more
The U.S. agency that oversees the safety line on Tuesday ordered Exxon Mobil Corp. for safety improvements to a Montana oil pipeline that ruptured and spilled oil into the Yellowstone River last week.
The Ministry of Pipeline Transportation and Hazardous Materials Safety Administration said Exxon to Silvertip pipeline under the bed of the Yellowstone River’s reburied on the line to protect against damage and said the company will have to restart a plan to submit before it may interfere the pipeline to resume. Read more
Exxon Mobil Corp. Recognized under political pressure Monday, which is the scope of its pipeline leaks in the Yellowstone River can extend well beyond a 10-mile stretch of the famous waterway.
Because the company intensified its clearing tens of thousands of gallons of crude spilled Pipeline Co.., Exxon Mobil. Gary Pruessing president promised to do “what is necessary” to search and mop oil from the 12-inch pipeline at the bottom of the river that broke over the weekend. Read more
U.S. gold futures end above $ 1090 per ounce on Thursday as investors, to the metal as a hedge against currency risks, market volatility after the news that European governments have to support in principle for the heavily indebted Greece. (more…)
Dow Jones Industrial Average edged up to a fresh 2010 closing high in thin trade on Tuesday, led by gains in Chevron and Hewlett-Packard hit. The Dow closed 20.51 points, or 0.18%, at 11,575.54, its highest close since August 28, 2008. Will the measure profits, Chevron rose $ 1.07, or 1.2%, to 91.19 after a county in California, a company official said that refinery was operating. A California Emergency Management Agency said earlier submission that the plant was closed down.
Hewlett-Packard was also strong, adding 43 cents, or 1%, to 42.25 after it said it was a 10-year contract for up to $ 2.5 billion personal computers, accessories and support services to NASA awarded. (more…)
Investment gold is indeed one of the best raw materials set for this fiscal year, as already in recession, especially now that the two Koreas engaged in an artillery clash. Unilaterally by investors focus on the euro-zone debt crisis, which is under strong pressure from the euro, gold trading high today peaked in both Europe and Asia. Overcoming a 28-year track record in the gold price at $ 850 per troy ounce, set at the PM fix on January 21, 1980, was Spot gold XAU bid for $ 1,377.89 at 0731 GMT from $ 1,376.20 late in New York Tuesday, XAG Silver was at $ 27.62 to $ 27.48; XPT Platinum at $ 1,659.50 to $ 1,647.24 and palladium XPD from $ 686.47 to $ 693.
Given recent events, Asian gold stocks are stable after the previous day sell-off, although the tension on the divided peninsula supported commodities like gold, bonds and the dollar. On the contrary, the euro rose slightly from a low two months on Wednesday, finding support after a massive sell-off, sparked by the euro-zone debt crisis. Another resource, oil to near $ 82 increase, rebounding from losses in the previous session, as the expectations of improved demand in top consumer the United States strengthened investor interest. (more…)
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