BP’s Record Gulf Oil Spill Settlement Tops $20 Billion

fire boat response crews battle the blazing remnants of the off shore oil rig Deepwater Horizon April 21. A Coast Guard MH-65C dolphin rescue helicopter and crew document the fire aboard the mobile offshore drilling unit Deepwater Horizon, while searching for survivors April 21. Multiple Coast Guard helicopters, planes and cutters responded to rescue the Deepwater Horizon’s 126 person crew. U.S. Coast Guard Photo

  By Rakteem Katakey, Del Quentin Wilber and Margaret Cronin Fisk (Bloomberg) -- The value of BP Plc’s settlement with the U.S. government and five Gulf states over the Deepwater Horizon oil spill rose to $20.8 billion in the latest tally of costs from the U.S. Department of Justice. The settlement is the largest in the department’s history and resolves the … [Read more...]

Ex-BP Executive Acquitted of Lying About Size of 2010 Gulf Oil Spill


By Katy Reckdahl and Margaret Cronin Fisk (Bloomberg) -- The highest-ranking BP Plc executive charged in the 2010 Gulf of Mexico oil spill was found not guilty of lying to investigators in a blow to prosecutors as the company awaits word on billions of dollars in potential fines for the disaster. Other BP employees still face prosecution. Two former well- site managers … [Read more...]

History’s 10 Most Famous Oil Spills

historic oil spill

Have you ever been curious about history of oil spills? Or wonder what was the most famous or the largest oil spill in history? Do you know all the facts like Exxon Valdez's Captain, Joesph Hazelwood, never had his captains license revoked and it remains valid to this date? To put the recent Deepwater Horizon mega-spill and the smaller Cosco … [Read more...]

BP Witness Calls Spill Response ‘Extraordinary’ at Fines Trial

Skimming vessels, support vessels and oil rigs at the site of the Deepwater Horizon disaster in the Gulf of Mexico, June 13, 2010. U.S. Coast Guard Photo

By Daniel Lawton and Margaret Cronin Fisk (Bloomberg) -- BP Plc “conducted an extraordinarily effective response” to the 2010 Gulf of Mexico spill, the company’s first witness testified Monday as the oil producer sought to minimize potential pollution fines. BP immediately mobilized people and equipment and recovered spilled oil at the highest-ever rate, retired Coast … [Read more...]

BP Seeks Review of ‘Gross Negligence’ Ruling

deepwater horizon disaster

By Margaret Cronin Fisk and Laurel Brubaker Calkins Oct. 3 (Bloomberg) -- BP Plc asked the U.S. judge in charge of thousands of oil-spill damage lawsuits to review a ruling that exposes the company to as much as $18 billion in fines, saying it was based on evidence he said he wouldn’t consider. BP claims the Sept. 4 ruling that the company was grossly negligent in causing … [Read more...]

BP Found Grossly Negligent In 2010 Gulf Oil Spill

Deepwater Horizon in flames in the Gulf of Mexico, April 21, 2010. U.S. Coast Guard Photo

Sept. 4 (Bloomberg) -- BP Plc acted with gross negligence in setting off the biggest offshore oil spill in U.S. history, a federal judge ruled, handing down a long-awaited decision that may force the energy company to pay billions of dollars more for the 2010 Gulf of Mexico disaster. U.S. District Judge Carl Barbier held a trial without a jury over who was at fault for the … [Read more...]