BP

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Judge Orders Probe against Feinberg Over BP Funds for Oil Spill

Judge Orders Probe against Feinberg Over BP Funds for Oil Spill

The department of Justice on Friday asked Kenneth Feinberg to unveil his work regarding the compensation of BP Plc’s Gulf of Mexico oil spill.

The judge Carl Barbier ordered for the speeding up for the payments to claims from $20 billion trust set by BP to relieve the sufferers.

Oil claims official has to stop saying that he is independent of BP

BP

The administrator of BP's twenty billion dollar oil spill compensation fund got partial about the British oil major and must stop telling victims he is independent, stated one US federal judge.

BP will pay dividend for the first time since Gulf oil spill

BP

On Tuesday, BP said that it planned to sell fifty percent of its refining capacity in the United States while reaching out more in faster-growing economies, and that it will start paying a dividend once more for the first time since the oil spill in the Gulf of Mexico last year.

Labor leader Miliband feels that BP's Russian tie-up is concerning

Labor leader Miliband feels that BP's Russian tie-up is concerning

BP's agreement done with the Russian energy group Rosneft might give rise to a rift with shareholders in its other partnership in Russia, TNK-BP.

BP deal recovers Reserves Gone in Post-Spill trade at half cost

BP deal recovers Reserves Gone in Post-Spill trade at half cost

Rosneft's market value prices its oil and gas reserves at $33 a barrel, the 4th lowest amongst the world biggest oil producers, information accumulated by Bloomberg.

That's 60 % below the $13.2 average price BP got for fields sold past year holding 1.7 billion barrels, according to bank DnB NOR ASA.

Safety board took entry in the hearing of oil spill

Safety board took entry in the hearing of oil spill

The first hearing of the chemical safety board will start today on the Deepwater Horizon oil spill. The board plans to examine the process in which other countries regulate offshore drillings. It also aims to learn the firsthand accounts of the disaster from the workers of British Petroleum.

Pan American’s long-term operation won’t be affected due to BP’s stake sales

Pan American’s long-term operation won’t be affected due to BP’s stake sales

The CEO of the largest offshore oil and gas firm by capacity, of China named Cnooc Ltd. stated on Monday that the operations of Pan American Energy LLC will remain firm in the times to come even as BP PLC (BP) is selling off most of its stake in the South America-based oil and Gas Company. BP is doing that for helping out to cover the cost of the U. K. firm's oil spill in the Gulf of Mexico.

Reports showed that poor discipline was one of the reasons for the oil spill

Reports showed that poor discipline was one of the reasons for the oil spill

On Wednesday a federal panel of Scientists reported that BP officials and the contractors of the company who were aboard the rig Named Deepwater Horizon in the Mexican Gulf ,did not pay heed to the warning signs given clearly regarding the dangerous condition of the Macondo well before the well blew apart in the month of April.

According to a report the oil spill happened due to BP’s lack of discipline

According to a report the oil spill happened due to BP’s lack of discipline

The Wall Street Journal had cited a report done by technical experts and stated that due to BP did not consider the risk factors sufficiently and due to the oil major's lack of operative discipline the biggest oil spill in the history of the US had occurred.

Crude oil had hit its two weeks low as reported by BP

Crude oil had hit its two weeks low as reported by BP

Some of the most important news of the oil market is given below. Oil prices had it nearly two-week low with apprehension that there will be less demand for oil in China as the country will step up its monetary measure for cooling its economy.

According to a panel of investigator BP did not show operating discipline before the blow out of its well.

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