BP wards off Gulf moratorium suits
USA BP-sponsored clean up effort in the wake of the Deepwater Horizon spill
BP defended itself in the New Orleans court by stating that such economic losses were not a direct result of the spill but rather from policy enacted by a third party. District Judge Carl Barbier went along with the company’s reasoning.
Having avoided moratorium-related suits, a trial scheduled for July 2016 looks to be the sole remaining legal hurdle for BP, which to date has paid out more than USD 55 billion in settlements. The company will have to appear in a Houston federal court to face investors seeking some USD 2.5 billion in damages.
Recent Posts
UK allows oil exploration in North Sea wind project zones
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil closes acquisition of Pioneer, creating Permian powerhouse
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy enters Namibia’s Orange Basin
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Chariot starts gas drilling campaign in Morocco
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone acquires Trinidad E&P player Trinity
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil “optimistic and pushing forward” with Mozambique’s Rovuma LNG
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More