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Tag Archives: Oil Spill

Appeals court upholds class action status in oil spill suit

NEW ORLEANS — A federal appeals court says litigation alleging that BP misled investors about the rate of oil flowing after an offshore oil rig explosion in 2010 can proceed as a class action lawsuit. Tuesday’s 5th U.S. Circuit Court of Appeals ruling means that the lawsuit, led by pension funds in New York and Ohio, can continue on behalf ...

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Settlement reached in lawsuit over decade-old Gulf oil leak

NEW ORLEANS — Environmental groups and a New Orleans energy company have reached a settlement agreement in a lawsuit stemming from the company’s failed efforts to stop a decade-old, slow-motion oil spill in the Gulf of Mexico. A federal court filing Thursday stated that an agreement had been reached between Taylor Energy Company and the environmental groups. Taylor said in ...

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Taylor Energy’s little known Gulf of Mexico oil leak

What if you just found out that oil has been leaking from abandoned wells in the Gulf of Mexico since 2004? Or if you learned that the government and oil company has kept it hidden, underestimating the amount of oil contaminating the Gulf for over a decade? What if it were in fact the 8th largest oil spill in the ...

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Refugio oil spill may have been costlier, bigger than projected

A Plains All American Pipeline oil spill off the Santa Barbara County coast this year may have been bigger and costlier than originally expected, the company said in its quarterly earnings update Wednesday. The May 19 spill could cost the Texas company as much as $257 million in response and cleanup costs, assessments and fines, and legal settlements, the company ...

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Nelson seeks hearing on BP’s proposed settlement

Florida’s senior U.S. senator, Bill Nelson, is pushing the U.S. Justice Department to hold at least one public hearing in Florida on its proposed $18.7 billion settlement with BP over the 2010 Deepwater Horizon disaster. And if in the future the Gulf of Mexico exhibits some new harm as a result of the oil and dispersant that spread around the ...

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Judge: BP payouts to local entities to start soon for spill

NEW ORLEANS — A federal judge says BP will begin paying up to $1 billion in settlements to compensate local governments across the Gulf Coast for lost tax revenue and other economic damages they blame on the company’s 2010 oil spill. An order issued Monday by U.S. District Judge Carl Barbier said all of the payments to local governments must ...

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Cataloging animals, plants in preparation for an oil spill

BRICK, N.J. — An effort inspired by the BP oil spill in the Gulf of Mexico to catalog marine, animal and plant life along the Jersey shore and its industrial waterways is increasing knowledge of exactly what is in the water — information that could be crucial to restoring habitats and assessing penalties after any serious oil spill. The Spill ...

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Work at site of Nexen spill done on tight schedule

FORT MCMURRAY, Alberta – Infrastructure at the site in northern Alberta of one of the biggest oil-related pipeline spills ever on North American soil was installed on a “tight schedule,” according to the firm that developed some of the pipeline’s safety technology. The engineering firm, French-based ITP Interpipe, said in a June 2014 presentation to the Society of Petroleum Engineers ...

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S&P raises BP to stable on oil spill settlement, cost cutting

BP Plc’s <BP.L> settlement of the Deepwater Horizon blowout and its cost reduction efforts should support its credit ratios to the end of 2016, ratings agency Standard & Poor’s said, revising its outlook on the oil and gas major to stable from negative. S&P affirmed its highest ‘A-1’ rating on BP’s short-term credit and ‘A’ on its long-term issue. S&P’s ...

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Re-trial date to be set next week for ex-BP engineer

NEW ORLEANS — A former BP engineer who won a new trial in a criminal case arising from the 2010 Gulf of Mexico oil spill is expected to learn the date of that trial next week. Federal prosecutors accused Kurt Mix of deleting text messages about the amount of oil flowing from BP’s Macondo well after the Deepwater Horizon disaster. ...

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