The Obama administration told Transocean Ltd. in a letter last week it was “simply unconscionable” for the drilling firm to try to limit its liability in the Gulf of Mexico oil spill accident, prompting the company to revise its court …
Oil from BP’s out-of-control Gulf of Mexico oil spill could threaten the Mississippi and Alabama coasts this week, U.S. forecasters said Monday, as public anger surged over the country’s worst environmental disaster. U.S. government and BP officials are warning that …
Hurricanes could rupture underwater oil and natural gas pipelines in the Gulf of Mexico, which is already struggling with the worst oil spill in U.S. history, according to a new study by researchers at the U.S. Naval Research Laboratory in …
The threat of an above-average 2010 Atlantic hurricane season has heightened over the past month and it now promises to be “a hell of a year,” a leading U.S. forecaster said Wednesday. William Gray, the hurricane forecast pioneer who founded …
U.S. National Hurricane Center director Bill Read said Tuesday that earthquake-ravaged Haiti was his biggest concern as another Atlantic hurricane season gets under way. He also acknowledged that a powerful storm could wreak havoc with efforts to fight the massive …
Lloyd’s of London announced that it estimates its net claims before tax from the earthquake in Chile to be in the order of $1.4 billion. Current estimates for the net claims from the Deepwater Horizon explosion in the Gulf of …
The U.S. Justice Department said Tuesday that Congress could retroactively impose a higher liability cap on BP Plc to pay for the damage from its growing oil spill, and the company would likely lose if it challenged the higher cap …
The Obama administration Tuesday slammed as “inappropriate” an attempt by Transocean Ltd to limit its liability for its role in the BP Plc oil spill in the Gulf of Mexico to under $27 million. Noting that the law the company …
The U.S. National Hurricane Center started tracking the first low pressure system of the 2010 Atlantic hurricane season late Sunday, reminding energy and commodities traders of the coming storm season, which officially starts June 1 and ends Nov. 30. The …
Shareholders have sued the board of BP Plc for failing to monitor safety and exposing the company to potentially enormous liability related to the Deepwater spill disaster in the Gulf of Mexico, according to court documents. A month ago a …
