Halliburton Posts Q1 Loss Related to Gulf Oil Spill
Oil-services company Halliburton says it lost $18 million in the first quarter on litigation-related charges related to the 2010 Gulf of Mexico oil spill.
gulf oil spill
AG Holder: $4.5 Billion Settlement Not the End of BP Oil Spill Probe
Two men who worked for BP during the 2010 Gulf oil spill disaster have been charged with manslaughter, hours after BP announced it was paying $4.5 billion in a settlement with the U.S. government over the disaster. U.S. Attorney General Eric Holder said the criminal investigation is continuing.
BP May Face $21 Billion in Fines Over 2010 Gulf of Mexico Oil Spill
The Justice Department is charging BP with gross negligence for its reckless actions related to the Deepwater Horizon oil spill in the Gulf of Mexico. If the charges stick, BP could face fines up to $21 billion. Can the company survive such a financial and PR nightmare?
Why BP Will Never Be Great Again
BP has big problems, and not just because of the Gulf of Mexico oil spill and the $20 billion compensation fund it set up to pay the victims. The petro-giant has been missing Wall Street's profit targets lately, thanks to sloppy operations and a general trend toward lower gasoline consumption.
U.S. Approves First Deepwater Drilling Permit in Gulf Since BP Oil Spill
The U.S. has approved the first permit to resume deepwater drilling in the Gulf of Mexico since the BP oil spill a year ago. The Noble Energy project, 70 miles southeast of Venice, La., is slated to be deeper than the blown out BP well.
BP Oil Spill Panel Calls for Reforms, Stronger Oversight
Oil industry practices and government rules must be subjected to substantial reform to prevent future accidents similar to BP's Deepwater Horizon oil rig disaster in the Gulf of Mexico last April, said a report released Tuesday by the presidential panel probing the incident.
BP Station Owners: Surviving a Debacle and Rebounding
Facing widespread calls for boycotts, owners responded by hammering home the message that the U.K. oil company doesn't own most of the retail locations that bear its name. Now as anger fades, business is coming back, and few owners ditched the brand.
Oil Industry Plans Record Spending in 2011
One would think that BP's massive Gulf of Mexico oil spill this year would have given pause to the global oil industry, but that doesn't appear to be the case. Companies in the sector are planning to spend a record $490 billion in 2011, including a large amount for deep-water development.
The BP Oil Spill's Long-Term Threat to Bluefin Tuna
The Deepwater Horizon disaster in the Gulf of Mexico may have unleashed a chain of events that could extend economically far beyond the region, threatening one of the world's most lucrative fishing species -- the bluefin tuna. The main culprit: the dispersants used to dissolve the oil.
Costner Hit With Lawsuit Over Oil-Spill Cleaning Device
Stephen Baldwin has sued fellow actor Kevin Costner over the sale of technology used to help clean the BP oil spill in the Gulf of Mexico. Baldwin says Costner owes him a share of an $18 million deposit that BP made as part of a larger purchase.
BP Weighs Sale of North Sea Assets to Cover Gulf Costs
BP is apparently considering the $1 billion sale of some of its assets in the North Sea as it tries to cover cleanup costs from the Gulf of Mexico oil spill. The company's Macondo well in the Gulf of Mexico exploded in April, leading to the most massive oil spill in U.S. history.
Obama Temporarily Bans Some New Offshore Drilling
The Obama administration will temporarily ban the sale of new offshore oil drilling leases in the eastern Gulf of Mexico and off the Atlantic coast, Interior Department Secretary Ken Salazar said Wednesday, a policy change made in response to lessons learned from BP's horrific Deepwater Horizon oil spill.
White House Expected to Ban Offshore Oil Drilling in Eastern Gulf
In an announcement sure to please environmentalists but anger oil companies, White House officials are expected today to ban offshore oil drilling in the eastern Gulf of Mexico.
Did the Obama Administration Misstate Scientists' Views on Oil Drilling?
The U.S. Interior Department has accused the White House of misrepresenting scientists' views to imply they were in favor of an oil-drilling ban. In actuality, the scientists hadn't been asked for their opinions on whether the ban would do any good, according to a department report.