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
WASHINGTON – U.S. offshore drilling supervisors trying to clear a path for 13 oil and gas companies drilling in the Gulf of Mexico after Obama resumed their projects suspended after the Deepwater Horizon oil spill.
Amid growing criticism about the pace of drilling activity in the Gulf, the U.S. Department of the Interior said Monday that 13 companies had their deep-water drilling projects up again without undergoing additional environmental assessments.
In December, the Interior Ministry said it would carry out additional tests for the submission of new business plans or seeking new licenses in previously approved plans. (more…)
Casey’s General Stores Inc. (CASY.O), the target of a takeover battle, reported a 3.6 percent rise in August same-store sales for gas and said her gasoline was above the target.
“We expect the positive margin trends continue and gas potential to see them contribute significantly to our results,” Chief Executive Robert Myers said in a statement. Same-store sales for prepared food and fountain rose 3.7 percent, and for grocery and other merchandise rose 4.4 percent in August, the U.S. Midwest convenience-store chain said in a filing with the Securities and Exchange Commission.
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Afghan authorities have organized a roadshow in London, which opens on Friday aimed at drumming of interest in the mineral wealth of the country variously estimated at anything from $1 trillion to 3trillion. India and China, the regional heavyweights, the top candidates to fight for a piece of the action in their immediate vicinity. If such large reserves of copper, iron ore and important industrial metals such as lithium are untapped in their neighborhood would you expect them to invest heavily in Afghanistan to feed their supercharged economies. (more…)
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