BP posts $6.3 billion loss, warns of more layoffs ahead
BP lost $6.3 billion in the second quarter amid the ongoing oil slump and as it took charges on its recent Deepwater Horizon oil spill settlement with the U.S. government and Gulf states.
View ArticleJudge: Local governments, including Houston, will get their BP payments soon
A federal judge said this week BP has until late August to start processing payments totaling $1 billion to the 400 local governments along the Gulf Coast that were part of the British oil major’s...
View ArticleBP settlement money flows to cities hundreds of miles from Gulf Coast shoreline
This week, BP finished making approximately $687.4 million in settlement payments to 383 local government entities in the five Gulf states. Nearly $8 million of that money went to 32 government...
View ArticleBP investors’ $2.5 billion class-action lawsuit can move forward, appeals...
BP Plc must face institutional investors’ claims for more than $2.5 billion in market losses caused by the plunge in share prices after the 2010 Gulf of Mexico oil spill, a federal appeals court ruled.
View ArticleRepublicans oppose new safety rules on offshore drilling
The Interior Department is poised to issue standards to close what it says are gaps in blowout preventer rules. Such a device failed catastrophically when a BP well blew out in 2010, causing a massive...
View ArticleBP to reimburse Louisiana $58.2 million for legal fees, other costs
The Advocate reports the money was included in BP's record settlement of more than $20 billion finalized last week between the federal government and five Gulf Coast states involved in the sprawling...
View ArticleStudy shows more extensive coral damage related to BP spill
Using remotely operated submarines, researchers explored the Pinnacle Reef in September 2011 and found more than 400 coral colonies were injured.
View ArticleTexas lawyer among seven accused of faking thousands of BP oil spill claims
The charges of conspiracy, mail and wire fraud, identity theft and aggravated identity theft involve 41 alleged victims, U.S. Attorney Gregory Davis said.
View ArticleFederal judge grants trial delay in BP oil spill fraud case
The Sun Herald reports U.S. District Court Judge Louis Guirola Jr. found the evidence so voluminous that attorneys would need more time to prepare their defenses.
View ArticleManslaughter charges dropped for BP supervisors in oil spill
The explosion on the BP-operated drilling rig killed 11 workers and set off the nation's worst offshore oil disaster.
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