oil spill

ExxonMobil Sued Over Arkansas Pipeline Spill

Two Arkansas residents have filed a lawsuit against ExxonMobil. They’re seeking $5 million in damages, claiming a pipeline spill has caused a permanent drop in property values.

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.

BP Suffered From 'Lack of Operating Discipline'

BP (BP) may have ignored potential risks related to the Deepwater Horizon drilling rig and the company suffered from a "lack of operating discipline" according to an interim report. The report from the National Academy of Engineering and National Research Council questions the competency of key personnel on the Deepwater Horizon rig, Bloomberg News reported.

Oil Spill Investigator Says No Corners Cut

The lead investigator for the presidential panel's investigation of April's Deepwater Horizon oil-spill disaster that killed 11 workers refuted previous reports that the rig's majority owner BP Plc and contractor Halliburton Co. compromised safety by cutting corners during the rig's construction, the New York Times reported.

BP to Sell Four Oil Fields in Gulf of Mexico for $650 Million

BP (BP) will sell four deep-water oil and gas fields in the Gulf of Mexico for $650 million. BP will sell the fields to Marubeni Oil and Gas, a unit of Japan%u2019s Marubeni Corp., The Wall Street Journal said. The deal could be completed by early 2011.

BP Will Join Other Oil Giants in Spill Response Group

BP (BP) will join an oil spill response group formed by fellow oil giants Exxon Mobil (XOM), ConocoPhillips (COP), Chevron (CVX) and Royal Dutch Shell (RDS.A). BP will make its underwater well containment equipment and personnel available to the group, called the Marine Well Containment Co., The Washington Post said.

Enbridge Closes Another Oil Pipeline

Enbridge Inc. (ENB) closed another pipeline after spotting a possible leak in New York. It%u2019s the third pipeline Enbridge has closed since July, following leaks in Illinois and Michigan, The Associated Press reported.

Rig Fire Shows Gulf Oil Spill's Lessons Are Being Ignored

No one died in the second major Gulf of Mexico oil rig mishap this year, and the fire aboard the Mariner Energy platform didn't lead to a spill. But that doesn't make it a win for America: More like a wake-up call that safety is still being given short shrift by the oil industry.

Why the Latest Oil-Rig Fire Is No BP Oil Spill Repeat

The news of a fire on a Mariner Energy-owned oil-rig platform in the Gulf drew instant comparisons with the Deepwater Horizon rig that exploded in April and caused the huge BP oil spill. But stark differences exist between the two incidents.

Second Oil Rig Explosion Reopens Drilling Ban Debate

Another oil rig explosion in the Gulf of Mexico Thursday gave fresh urgency to the debate over the Obama administration's moratorium on deepwater oil drilling. Environmental groups renewed their calls to maintain or expand the ban; advocates for removing it were more circumspect.

A Tough First Day for Oil Spill Claims Czar Feinberg

Kenneth Feinberg, who was jointly selected to be the new oil spill claims czar by the White House and BP, spent his first official day on the job Monday taking heat over the guidelines he has established for claims against the fund BP set up for victims of the Gulf of Mexico disaster.

House Votes to Lift Oil Spill Liability Cap

A bill that passed the House of Representatives on Friday would, among other things, eliminate the $75 million cap on liabilities related to oil spills. The overhaul of the nation's offshore drilling regulations would require oil companies to pay the full cost involved with any spills.

New BP CEO Promises Long-Term Support to Gulf Region

BP's incoming CEO Bob Dudley promised to continue long-term financial support for people affected by the catastrophic Deepwater Horizon oil rig spill, speaking at a press conference in Biloxi, Miss., on Friday.

Cleanup Vessels Evacuate Gulf as Tropical Storm Bonnie Nears

U.S. authorities ordered vessels working at the ruptured oil well in the Gulf of Mexico to evacuate the area on Thursday evening as Tropical Storm Bonnie approached. The rig drilling a well to intercept BP%u2019s (BP) ruptured Macondo well will also be temporarily moved, Ret. Coast Guard Adm. Thad Allen said, according to The Wall Street Journal.

The 10 Biggest Brand Disasters of 2010

It's been a rough year for those in the branding business at big corporations. SEC investigations, massive product recalls and oil spills have taken a toll on the reputations, as well as the stock prices,of some of America's most well-known companies. Here are ten of the biggest disasters so far this year.

BP Resumes Well Cap Test After Safety Delay

After a 24 hour delay, BP is proceeding with an all important integrity test that will determine whether its damaged well in the Gulf of Mexico can be safely capped and closed.