BP raised $1.8 billion on Monday to help pay for the cost of the oil spill in the Gulf of Mexico by selling assets in Venezuela and Vietnam to its own joint venture in Russia, Andrew E. Kramer reports in The New York Times. The transaction will leave half the assets’ equity on BP’s books [...]
A presidential commission’s reports on the Deepwater Horizon oil spill criticize the Obama administration for “underestimating” the amount of crude flowing into the Gulf, which in turn “undermined public confidence in the federal government’s response.” The National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling, formed just weeks after the April oil [...]
BP’s internal investigation of the gulf oil disaster blames “multiple companies and work teams” for the April 20 explosion that triggered the worst environmental catastrophe in U.S history, CNN reports.Though the report, released Wednesday morning, did not identify “any single action or inaction that caused this accident,” it did point a finger at rig owner [...]
The BP spill appears to be capped for good, even though the ultimate solution known as “final kill” has yet to be implemented. But while fresh oil has stopped gushing into the Gulf of Mexico, distrust and resentment continue to flow freely. Many citizens and scientists alike do not believe an inter-agency federal report stating [...]
Now that the runaway well in the Gulf of Mexico is no longer gushing oil, public opinion in Florida — including the North Florida/Panhandle region that was most at risk — has turned against the idea of banning offshore drilling in the state’s waters, according to a poll conducted Aug. 6-10 for the St. Petersburg [...]
The state of Alabama is suing BP and other companies for their roles in the disastrous Gulf oil spill, accusing them of damaging the state’s beaches and economy through “negligent or wanton failure to adhere to recognized industry standards.” Two lawsuits were filed late Thursday by Attorney General Troy King, one against BP and the [...]
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