Deepwater Horizon Civil Trial Postponed

Deepwater-Horizon-oil-rig-explosion

The civil trial over the Deepwater Horizon disaster has been postponed until March 5 to give BP PLC (BP, BP.LN) and lawyers representing those who say they were injured by the oil spill more time to reach a settlement, both sides said Sunday. The trial, which had been slated to begin Feb. 27 in Federal District Court in New Orleans, is meant to determine the culpability of … [Read more...]

Transocean Fires Broadside at BP Over Contractual Agreements

Deepwater Horizon disaster BP Transocean oil spill blowout

Transocean Ltd. (RIG, RIGN,VX) filed a motion in federal court on Tuesday morning to force BP PLC (BP, BP.LN) to indemnify it against damages related to the Deepwater Horizon oil spill. The legal salvo is the latest in an increasingly bitter contractual dispute between the companies over whether the Switzerland-based Transocean should help pay billions of dollars in costs … [Read more...]

BP Contractors Could Face Fines Over Gulf Oil Spill

gulf oil spill

By Tennille Tracy, The Wall Street Journal WASHINGTON—The prospect that contractors for BP PLC could be fined by the government over the Deepwater Horizon oil spill is jolting the contracting industry, which traditionally avoided liability in such accidents. U.S. regulators are set to hand out punishments in the Deepwater Horizon case as soon as this week, following … [Read more...]

USCG: Deepwater Horizon Is NOT Source Of Gulf Oil Sheen

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HOUSTON (Dow Jones)--The U.S. Coast Guard said Friday the wreckage of Transocean Ltd.'s (RIG) Deepwater Horizon rig, which sank last year, isn't leaking oil and is not the source of oil sheens seen recently in the Gulf of Mexico. A Coast Guard spokeswoman said a team of experts that viewed the video footage taken by an ROV agreed that nothing shown in the feed "provided any … [Read more...]

Is The Deepwater Horizon Leaking Oil?

Deepwater Horizon Oil Sheen

The U.S. Coast Guard said Tuesday it is working with Transocean Ltd. to find out whether last year's wreckage of the Deepwater Horizon rig is the source of oil sheens that have appeared in the Gulf of Mexico. The Coast Guard said in a statement that a series of oil sheens—basically a thin carpet of petroleum floating on the surface of the water—spotted in the … [Read more...]

Watch Out: BOEMRE Will Sneak Up On You

The Gulf oil spill as seen from space.  Photo via NASA

The U.S. offshore regulator, Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE), has completed its first post-Macondo unannounced spill drill to test the new requirements of sub-sea containment capabilities for deepwater wells. The table-top drill, which took place last week, was a joint exercise led by BOEMRE with the U.S. Coast Guard, the State of … [Read more...]