U.S. oil explorers are talking about forming a new insurance fund that would cover the costs of any future oil spill, to avoid a scenario where smaller companies are unable to drill offshore, a senior industry executive said on Thursday. …
BP Plc and its Gulf of Mexico oil well partners traded blame Wednesday after an internal BP investigation tried to downplay the company’s role in the world’s biggest offshore spill. The 193-page BP report offered a preview of how the …
BP Plc said the cost of dealing with its oil spill in the Gulf of Mexico had risen to $8 billion as the oil giant prepared to release the findings of an internal probe into the causes of the disaster. …
BP Plc’s newly named chief executive Tuesday called the Gulf oil spill a “wake-up call” for the entire industry as the company tallied up its losses and disclosed two U.S. investigations. Bob Dudley, who will replace gaffe-prone Tony Hayward as …
Tropical Storm Alex is expected to reach hurricane strength on Tuesday, with high winds and vast waves set to hamper BP Plc’s latest efforts to contain the largest oil spill in U.S. history. Shares in London-based energy giant BP fell …
President Barack Obama, seeking to demonstrate strong leadership on the Gulf of Mexico oil spill, will demand today that BP set aside billions of dollars to pay damages from the catastrophe. A day after he vowed to fight the spill …
Oil major BP Plc said the oil spill in the Gulf of Mexico had cost it $350 million so far, suggesting the final bill could be much higher than many analysts predicted, and hitting the company’s shares. BP said in …
BP Plc will compensate all those affected by an oil spill from one of its wells in the Gulf of Mexico, its chief executive said, accepting the disaster could hit plans to open new areas off the U.S. coast to …
