British Petroleum

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BP CEO Shouldn't Get 20% Raise After $5.2B Loss: Investors

But vote's nonbinding, so looks like Bob Dudley will get his full bonus

(Newser) - Oil giant BP lost $5.2 billion last year, but the company somehow saw fit to propose maximum bonuses for 2015 for its top executives, including a 20% pay increase for CEO Bob Dudley—a proposal that 59% of shareholders roundly rejected by proxy vote at Thursday's annual meeting,... More »

Feds OK Commercial Drone Flights Over Land

'Puma' will keep watch over BP's pipelines in Alaska

(Newser) - The aircraft now keeping an eye on BP's pipelines near Prudhoe Bay, Alaska, has an unusual way of taking off: It gets thrown. That's because it's a drone called Puma, and it happens to be the first drone approved for commercial flights over land in the US,... More »

'Active Cleanup' of Gulf Spill Finally Finished

BP, Coast Guard move on

(Newser) - By now, the 2010 Deepwater Horizon disaster may seem like a distant memory, but the Coast Guard and BP ended their "active cleanup" of the spill just two days ago. That doesn't mean that the cleanup is over, just that instead of patrolling the affected coastline, ships will... More »

BP Allowed Back in Gulf Waters

British Petroleum and the EPA reach agreement

(Newser) - BP is taking a big step in its recovery following 2010's massive oil spill . The US has agreed to lift the 2012 ban that kept the oil company from doing business with the US government—including seeking contracts in the Gulf of Mexico. That means the company can begin... More »

90 Companies to Blame for 63% of Global Emissions

Chevron, BP, Exxon racked up 9% alone

(Newser) - Want to personally thank those largely responsible for putting greenhouse gases into the air? Fewer than 100 phone calls will do the trick. According to new research, 90 companies have produced 63% of the emissions of carbon dioxide and methane since the dawn of the industrial age. Chevron, BP, and... More »

Europe Raids Big Oil Firms, Looking for Price Rigging

BP, Shell, and Statoil involved

(Newser) - European authorities raided the offices of BP, Shell, Statoil, and other companies involved in the oil business yesterday, as part of an investigation into what they suspect is a more than decade-old conspiracy to rig oil prices. The European Commission said it had launched "unannounced inspections" of oil company... More »

It's Official: BP Pleads Guilty to Manslaughter

Judge accepts deal, despite objections from victims' families

(Newser) - Corporations are people, my friend, and that means they can commit manslaughter. After listening to testimony from relatives of the 11 workers killed in the Deepwater Horizon disaster, a federal judge today approved BP's plea deal , allowing the oil giant to plead guilty to manslaughter and other charges, the... More »

BP's Tab So Far in Gulf Spill: $38B

But third-quarter results better than expected

(Newser) - BP is still calculating its costs related to the Deepwater Horizon oil spill, but the Gulf of Mexico disaster has now cost the oil giant more than $38 billion to date, Sky News reports. The firm’s third-quarter report included $59 million in payments related to the spill, but even... More »

Iraq's Oil Production Hits New Heights

With Iran sanctions rising, Iraq oil needed for world supply

(Newser) - Iraq may be crippled by mismanagement and violence , but it does have one huge bright spot these days—oil. Iraq's crude oil production is up 20% this year to the tune of 2.5 million barrels a day, reports the New York Times . Oil provides 95% of government revenues... More »

Deepwater Drilling to Pass Pre-Spill Heights

Oil demand keeps drills humming in Gulf of Mexico

(Newser) - It's been almost two years since the Deepwater Horizon explosion, and deepwater drilling is back. With a year-long moratorium over, BP and other companies are intensifying their operations in the Gulf of Mexico, and production there will soon exceed its pre-accident highs, the New York Times reports. The practice... More »

BP Reaches $7.8B Settlement in Gulf Oil Spill

Deal does not include biggest plaintiff of all: US government

(Newser) - BP has agreed to pay about $7.8 billion to thousands of individuals and businesses around the Gulf of Mexico in economic and medical compensation for the massive 2010 oil spill, reports the Washington Post . About $2.3 billion will go to compensation to the seafood industry alone. BP also... More »

BP Faces $52B in Gulf Spill Fines

With trial to begin tomorrow, lawyers negotiating furiously

(Newser) - With the trials set to begin tomorrow for BP and the other companies involved in the 2010 Gulf of Mexico oil spill, BP alone could conceivably face up to $52 billion in fines and compensation, reports the AP . Under the Clean Water Act, which requires a minimum of $1,100... More »

Charges Loom in Deepwater Disaster

Engineers, at least one supervisor under the gun

(Newser) - US authorities are on the verge of bringing their first criminal charges related to the Deepwater Horizon disaster, with several Houston-based engineers and at least one BP supervisor likely facing felonies, sources tell the Wall Street Journal . The men are suspected of providing false information to regulators regarding the risks... More »

BP: Halliburton Torched Evidence in Gulf Oil Spill

And computer modeling data 'inexplicably missing'

(Newser) - Halliburton has both intentionally destroyed and conveniently lost evidence relating to the Deepwater Horizon disaster , according to court documents filed by BP. “Halliburton has steadfastly refused to provide these critical testing and modeling results in discovery,” BP’s court filing says, according to CNN . “BP has now... More »

BP Fined $25M for 2006 Alaska Spills

It's the largest per-barrel assessment ever imposed for a spill

(Newser) - Another blow to BP's coffers—and reputation: The oil company has been fined $25 million for two Alaska pipeline spills in 2006 . The civil fines will settle charges arising from both the spills and BP's non-compliance with court orders to properly maintain the pipelines, the New York Times... More »

BP Sues Maker of Blowout Preventer

Move comes on anniversary of Deepwater Horizon explosion

(Newser) - BP today marked the one-year anniversary of the Deepwater Horizon explosion by pinning the blame squarely on someone else—namely the maker of the rig's blowout preventer. The company sued Cameron International in federal court in New Orleans, claiming that the "flawed design" of the blowout preventer was... More »

Gulf Oysters' Fate Illustrates 'Tyranny of Oil' Risks

True harm of BP spill may not be known for years: Paul Greenberg

(Newser) - Tomorrow is the one-year anniversary of the BP oil rig explosion in the Gulf, and Paul Greenberg is worried enough about the consquences that he's putting an oyster on his Seder plate. It's a reminder to him that the most devastating effects of the spill happened below the... More »

UK Consulted Big Oil Before Iraq Invasion

Memos reveal secret top-level talks with BP, Shell

(Newser) - Contrary to official denials, British oil firms were jockeying for a share of Iraq's oil wealth the year before Britain took a leading role in the 2003 invasion, newly released documents reveal. Government ministers held at least five top-level meetings with execs from BP and Shell in late 2002,... More »

Emails Show BP Trying to Tamper With Oil Spill Studies

Greenpeace digs dirt with Freedom of Information Act request

(Newser) - In the wake of the Deepwater Horizon oil spill, BP created a $500 million fund for independent research into the disaster. But in emails obtained by Greenpeace under the Freedom of Information Act, BP officials talk openly about how they can manipulate that research, the Guardian reports. “Can we... More »

BP's Gulf Cleanup Creates 'Spillionaires'

Many in Gulf Coast got rich in unsupervised spending frenzy: Pro Publica

(Newser) - A Pro Publica investigation introduces a new word in the Gulf Coast lexicon: spillionaire. As in, the nickname given to someone—usually someone politically connected—who raked in a lot of money from BP's unregulated $16 billion cleanup fund for localities. It puts a particular focus on St. Bernard Parish... More »

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