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
In the years preceding last year’s Deepwater Horizon explosion in the Gulf of Mexico, the oil industry and federal regulators put the first exploration and production, according to an independent report. The petroleum industry and federal regulators more focused on exploration and production over safety in the years preceding the 2010 Gulf of Mexico oil spill, which set the stage for the worst offshore environmental disaster in U.S. history, according to a new independent report the National Academy of Engineering and the National Research Council. Read more
Oriental Metals, as was, had its share of problems. Have not we all, as the credit crunch hit? But the new boss Brian Wesson comes straight to the point where it rings up to describe recent progress in the now renamed and relaunched, Woulfe Mining. The wild swings in shares of the company during the last two years can be described as rather extreme, “he said. “The company had been up to C $ 3.70, then dropped to $ 0.03 CA.” The long term plan is to move the listing from the TSX Venture Exchange in place of the main board in Toronto, but with a record like that, it may be some time before markets settle enough to make a realistic proposition. (more…)
Gold prices rising at a steady upward trend. They have reached an important milestone of crossing over the psychological $ 1,300 per ounce, and perhaps on their way to the expected price of $ 1500 hit by the end of the year.
Momentum traders and gold investors benefit from the upward trend in gold prices. The trend in trade, a trader is long with an upward trend until the trend is reversed. (more…)
HOUSTON – BP Plc (BP.L) said an ambitious deep-sea operation to choke a gushing oil spill in the Gulf of Mexico is proceeding as scheduled on Wednesday, while presidential candidate Barack Obama warned Americans there was no guarantee it would work. BP is under intense pressure from Obama to a quick end to bring the five weeks old vulnerability that an environmental disaster and an attack on Obama’s crisis-manager image threat. (more…)
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