BP Fined $87 Million Over Explosion |
-39 |
None |
OSHA officials fined BP $56.7 million for 270 notifications of failure to abate problems identified after the 2005 explosion, and another $30.7 million for 439 new, "willful" violations.
ENLARGE A birds eye view of the wreckage at the BP facility in Texas City on March 24, 2005.
BP already paid a separate $21.3 million fine to OSHA in September 2005, and entered into a four-year agreement to correct safety violations at the refinery.
BP had hoped the arrival of Tony Hayward as chief executive in 2007 would help it draw a line under the Texas City accident.
Many of these were related to faults in pressure-relief safety systems and other process safety management violations, OSHA said. |
BP |
{"Guy Chazan"} |
81 |
BP Sued by Ohio for $33.3 Million Over Tank Leak Cleanup |
-8 |
2015-03-02 00:00:00 |
The case is Petroleum Underground Storage Tank Release Compensation Board v. Standard Oil Co., 15-cv-01837, Franklin County, Ohio, Court of Common Pleas (Columbus).
Attorney General Mike DeWine and Ohio’s Petroleum Underground Storage Tank Release Compensation Board sued London-based BP’s North American affiliate on Monday in a state court in Columbus, demanding restitution.
The compensation board and fund were established in 1989 as a last resort for tank owners that don’t have coverage, the attorney general said.
BP Plc double dipped by taking a total of more than $33 million from an Ohio compensation fund and insurers to clean up leaks from underground storage tanks, according to the state’s attorney general.
BP, in many instances, concealed that it had insurance while applying to the board for clean-up cost reimbursement. |
BP |
{"Andrew Harris"} |
474 |
BP Sued by Vantage for $265 Million Jump in Costs |
-24 |
2013-04-08 00:00:00 |
Vantage Drilling Co. sued a BP Plc unit over what it claims was a $265.5 million increase in financing costs stemming from the 2010 Gulf of Mexico oil spill.
The case is Vantage Drilling Co. v BP Exploration & Production Inc., 2:13-cv-00610, U.S. District Court, Eastern District of Louisiana (New Orleans).
Shortly after the spill began, President Barack Obama issued a deep-water drilling moratorium that shut down exploration activity in much of the Gulf for months.
Vantage presented its claim to BP’s oil-spill settlement administrator in September and the claim was denied, according to the suit.
In numerous court filings, BP has denied responsibility for business losses tied to that ban. |
BP |
{"Laurel Brubaker Calkins Margaret Cronin Fisk"} |
475 |
BP, Transocean argued well plans before rig blast |
-22 |
None |
That blowout preventer failed in the April 20 explosion and fire that sank the rig, which BP leased from Brown's employer, Transocean.
BP, Transocean and oilfield services contractor Halliburton, which ran cementing operations on the well, have blamed each other for the disaster, which left 11 men dead and uncapped an undersea gusher that BP has so far failed to stop.
Kenner, Louisiana (CNN) -- BP and Transocean managers had a dispute over drilling plans the day of the explosion that destroyed the oil rig Deepwater Horizon and unleashed a massive oil spill in the Gulf of Mexico, the rig's chief mechanic recounted Wednesday.
He said Transocean's team, including its offshore installation manager, or OIM, and drill operator, "had a disagreement with that.
As other witnesses have testified, Brown said the explosion occurred shortly after a roar of gas erupted from the well. |
BP |
{"The Cnn Wire Staff"} |
634 |
NY City sues BP over Deepwater Horizon spill - Comptroller |
-26 |
2013-04-26 19:47:22+00 |
REUTERS/Sean GardnerA contract worker rakes oil from the Deepwater Horizon oil spill off a beach in Grand Isle, Louisiana June 9, 2010.
REUTERS/Lee CelanoA hard hat from an oil worker lies in oil from the Deepwater Horizon oil spill on East Grand Terre Island, Louisiana June 8, 2010.
"BP failed to disclose to shareowners the serious risks involved in its offshore drilling operation," Comptroller John Liu said.
REUTERS/Lee CelanoNEW YORK New York City said on Friday it sued BP Plc for more than $39 million (25.1 million pounds) of losses it claims beneficiaries of the city's pension funds sustained due to BP's "misconduct and fraudulent behaviour" linked to the 2010 Deepwater Horizon oil spill.
The 2010 disaster in the Gulf of Mexico killed 11 rig workers and spilled 4 million barrels of oil in the worst offshore spill in U.S. history. |
BP |
{"Reuters Editorial"} |
668 |
BP’s ‘gross negligence’ caused Gulf oil spill, federal judge rules |
-31 |
2014-09-04 00:00:00 |
US District Judge Carl Barbier ruled on September 4, 2014, that BP’s “gross negligence” and “willful misconduct” had caused the massive oil spill in the Gulf of Mexico in 2010.
BP has spent about $27 billion so far to clean up the oil spill and compensate people and businesses harmed by the spill.
) And the third part will determine the final amount of the Clean Water Act and punitive fines.
A BP cleanup crew shovels oil from a beach in this May 2010, file photo, at Port Fourchon, Louisiana.
Transocean last year agreed to pay the government $1 billion to settle its Clean Water Act liabilities related to the oil spill, and it paid an additional $400 million in criminal penalties. |
BP |
{"Steven Mufson Covers Energy Other Financial Matters Since Joining The Post He Has Covered The White House China Economic Policy Diplomacy Follow"} |
665 |
BP May Be Fined Up to $18 Billion for Spill in Gulf |
-44 |
2014-09-05 00:00:00 |
BP did not mention this call in its own investigative report, an omission Judge Barbier found suspicious.
The hasty effort to temporarily shut down a drilling operation that was over budget and behind schedule led to what Judge Barbier called “a chain of failures” culminating in the explosion and spill.
PhotoIn a statement, BP said it “strongly disagrees with the decision” and would immediately appeal to the United States Court of Appeals for the Fifth Circuit.
He apportioned 67 percent of the blame for the spill to BP, 30 percent to Transocean and 3 percent to Halliburton.
Advertisement Continue reading the main story“We are pleased,” United States Attorney General Eric H. Holder Jr. said of the ruling. |
BP |
{"Clifford Krauss","Campbell Robertson"} |
667 |
BP to spend $1 billion on thousands of job cuts |
-9 |
2014-12-10 13:43:53+00 |
Deutsche Bank on Wednesday upgraded BP shares to buy, quoting "positive change in perception" over the impact of Russian sanctions and the Gulf of Mexico spill.
By 1306 GMT, BP shares were down 0.32 percent at 404.65 pence per share, compared to a 0.06 percent decline in the Stoxx 600 oil & gas index .SXEP.
LONDON BP (BP.L) will cut thousands of jobs cut across its global oil and gas business by the end of next year in a $1 billion restructuring programme announced on Wednesday following steep falls in oil prices.
Global oil and gas exploration projects worth more than $150 billion are likely to be put on hold next year as plunging oil prices render them uneconomic, data shows.
The British oil major said it was also considering deeper cuts to its 2015 budget beyond the $1-$2 billion reduction already announced in October, as a result of the oil slump. |
BP |
{"Ron Bousso"} |
801 |
BP reorganizes oil production unit |
-17 |
2012-11-23 14:38:52+00 |
BP logo is seen at a fuel station of British oil company BP in St. Petersburg, October 18, 2012.
REUTERS/Alexander DemianchukLONDON BP unveiled a reorganization of its oil and gas production operations on Friday, reversing a change it enacted after the Gulf of Mexico oil spill.
BP did not announce any change in the centralized model but two sources close to the company said Dudley was planning to tweak this.
The creation of functional roles for exploration, drilling and operating oil and gas production facilities, was aimed at moving BP away from its traditional decentralized structure of independent business units.
McKay, like Dudley, is a former executive from Amoco, the company BP took over in 1997 to join the top tier of the oil industry, making the British firm one of the three biggest. |
BP |
{"Tom Bergin"} |
802 |
Former BP engineer will get new trial; oil spill conviction tossed |
-23 |
2014-06-12 00:00:00 |
"These extreme circumstances place the very sanctity of the impartial nature of Mix's jury at issue.
A federal judge has tossed out a former British Petroleum engineer's conviction for obstructing an investigation into the 2010 spill that leaked billions of gallons of oil into the Gulf of Mexico, court records show.
Mix was not tried by an impartial jury.
The spill began with an explosion and fire at the company's Deepwater Horizon rig off the coast of Louisiana.
Kurt Mix, a Texas resident and drilling engineer, was convicted in December of obstructing an investigation into the spill by deleting text messages that would have been relevant to the federal inquiry. |
BP |
{"James Queally","Los Angeles Times"} |
805 |
Gulf Shrimp Season Begins In Louisiana Under Oil-Black Cloud |
-8 |
2011-08-22 00:00:00 |
But ever since the BP oil spill back in 2010, their hauls have gotten lighter and their hopes and prayers a bit dimmer.
Encalade blames the 87-day oil spill in the Gulf and the dispersants used by BP to thin the oil caked on the water for blighting the sea life here.
And early reports from shrimpers said the outlook for this season doesn't look good, if today's catch is any indication.
"We don't have millions of dollars sitting in the bank where we can go do something else.
The seafood industry and the livelihood of those who make their money off the side of boats is collapsing beneath them, fishermen said. |
BP |
{"Trymaine Lee"} |
919 |
Protesters target BP annual meeting |
-24 |
2011-04-14 00:00:00 |
BP executives faced angry protesters as shareholders prepared to vote at its annual meeting in London, which is taking place a few days before the first anniversary of the Deepwater Horizon explosion.
"BP shareholders have been urged to vote against the company's remuneration report by Pirc, the corporate governance watchdog, over "excessive" payouts to outgoing executives.
Critics view the payments as inappropriate in the wake of the environmentally catastrophic oil spill.
Members of first nation tribes in Alberta, northern Canada, where BP is developing its oil sands projects, also staged a demonstration.
Institutional investors, angry at what they claim are excessive executive pay deals, urged shareholders to vote against the remuneration package. |
BP |
{"Tim Webb","Karen Mcveigh"} |
814 |
Slack data management exposed BP to high safety risk: leaked report |
-20 |
2016-12-13 19:33:54+00 |
In comments on the leaked report, BP said it was "committed to safe, reliable and compliant operations.
The incident at the gasoil hydrotreater unit, which removes sulphur from oil, was due to "multiple deficiencies in engineering information management".
REUTERS/Jacky NaegelenLONDON BP's (BP.L) refining operations are exposed to high safety risks that can lead to deadly accidents and pollution as a result of slack data management and a lack of investment, according to a leaked internal report from 2015.
The report said highly material safety risk and financial performance issues remained due to "the lack of refining and petrochemicals-wide direction, governance, coordination and investment".
"This particular report focused on potential enhancements to how BP manages engineering data. |
BP |
{"Ron Bousso"} |
1105 |
BP's Deepwater Horizon costs total $62B |
-7 |
2016-07-14 00:00:00 |
The company said it believes any additional future costs associated with Deepwater Horizon will not have a significant effect on its finances.
The costs, which total $44 billion after the tax impact is factored out, cover multiple comprehensive settlements with federal and state authorities, shareholders, property owners and consumers.
The deal also included a $5.5 billion civil penalty and $7.1 billion in claims under the Oil Pollution Act.
“Over the past few months we’ve made significant progress resolving outstanding Deepwater Horizon claims and today we can estimate all the material liabilities remaining from the incident," BP chief financial officer Brian Gilvary said in a statement.
"Importantly, we have a clear plan for managing these costs and it provides our investors with certainty going forward. |
BP |
{"Nathan Bomey","Edt July","P M"} |
1106 |
Halliburton to Pay $1.1 Billion to Settle Damages in Gulf of Mexico Oil Spill |
-69 |
2014-09-03 00:00:00 |
Four years after the disaster, Halliburton and BP continue to dispute which company was responsible for the faulty cement job.
Had the cement Halliburton mixed and applied to the well been sturdy enough, the worst offshore oil spill in American history would probably not have occurred, according to several studies of the accident.
BP hailed the Halliburton settlement and strongly criticized the service company.
Transocean already agreed to pay $1.4 billion to settle government charges, and it also faces potentially higher penalties in Judge Barbier’s court.
The settlement agreement was long expected since the oil service company pleaded guilty to a criminal charge of destroying evidence last year. |
BP |
{"Clifford Krauss"} |
11 |
BP faces further $2.5bn charge over Deepwater Horizon spill |
-7 |
2016-07-14 00:00:00 |
This would bring the total cumulative pre-tax charge relating to the Deepwater Horizon incident to $61.6bn, or $44bn after tax.
“Over the past few months we’ve made significant progress resolving outstanding Deepwater Horizon claims and today we can estimate all the material liabilities remaining from the incident.
BP said the charge is expected to include a pre-tax non-operating charge associated with the oil spill of about $5.2bn.
BP is to take a further $2.5bn (£1.87bn) hit as a result of the Deepwater Horizon accident, bringing the total cost of the environmental disaster to almost $62bn.
In the months since, BP said it had made “much further progress” in resolving outstanding claims. |
BP |
{"Terry Macalister"} |
80 |