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
Despite the uncontrolled oil spill in the Gulf of Mexico, President Barack Obama has plans for a visit next week to an Ohio factory that steel pipes used by oil and gas industry, announces the White House Friday. Obama’s official timetable calls for him to visit on Tuesday of Vallourec and Mannesmann (V & M) Star plant in Youngstown, Ohio, who has used the economic incentive funds to the site to expand and eventually double the size of its workforce. (more…)
The U.S. Congress passed a $ 858,000,000,000 bill extending for two years all the Bush-era tax cuts, sending the measure to President Barack Obama for his signature.
Obama will sign measure into law later today, White House spokesman Robert Gibbs said in an e-mail. Gibbs does not mention a specific time for the bill signing.
Before the House voted 277-148 for final passage on the tax-cut agreement, members defeated an amendment made by some Democrats to their dissatisfaction with the bill to express and especially with a Republican-backed estate-tax proposal. (more…)
Kinross gold mine in Alaska’s Fort Know. Analysts expect the total production in the Red Back in 2015 could double to around one million ounces. Kinross gold mine in Alaska’s Fort Know. Analysts expect the total production in the Red Back in 2015 could double to around one million ounces.The Tasiast mine in Mauritania has been host to one of the best gold discoveries in decades. But by offering more than U.S. $ 7 billion in shares and warrants for Red Back Mining Inc., Kinross Gold Corp. is betting that he will get much bigger. (more…)
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