BP set for trial over Gulf oil spill

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BP is set to begin a civil trial over the 2010 Deepwater Horizon oil spill that became the US's worst environmental disaster.

The UK oil giant will be pitted against the US states that were affected by the spill and the Department of Justice. It faces the biggest civil fine in history.

It comes after BP agreed in November to pay $4.5bn (£2.9bn) to settle criminal charges relating to the spill.

The trial is to be held in New Orleans.

The trial will determine the causes of the spill, and assign responsibility to the parties involved, including BP, contractor Halliburton, rig operator Transocean, and Cameron, which manufactured the blowout preventer meant to stop oil leaks.

http://www.bbc.co.uk/news/business-21548117

[Sir Wearer of Hats]

they'll be told "you couldn't have known" and then be told to pay for the cleanup.

[Guest]

Safety contractors had warned that the disaster was an inevitability given the techniques they were using and the lack of attention to detail. These reports were buried by BP, but the authorities must have been well aware that they were playing with fire. The prospects of been able to open up all of those impossible to reach continental shelf deposits must have been to tempting for everyone to think about the consequences in an serious way.

The only good thing that can possibly come out of this is if the industry finally realises that these deep water deposits are not technically possible to extract. However, I suspect the temptations will be far to great to resist in the long run.

Br Cornelius

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BP 'put profits over safety'

BP has been accused of putting profits before safety on the first day of a trial in New Orleans over liability for the 2010 Deepwater Horizon oil spill.

http://www.bbc.co.uk/news/business-21548117

[TheLastLazyGun]

The UK oil giant will be pitted against the US states that were affected by the spill and the Department of Justice. It faces the biggest civil fine in history.

BP is 40% British-owned, 39% American owned and its boss is a Swede. BP doesn't even stand for "British Petroleum" anymore since it merged with American oil company AMOCO

It's hardly a "UK company".

The Americans, when referring to that oil spill, just like to keep referring to it as a "British company" to pin all the blame for it on foreigners. The number of times that American newsreaders and American internet users at the time of the oil spill who called it "a British company" was just infurtiating.

Edited February 26, 2013 by TheLastLazyGun

[Bavarian Raven]

I doubt they will get any serious repercussions... of they'll be given a large fine for the clean-up. But then they will protest and it wll be in courts for decades with no clear resolution...

[The Silver Thong]

The fine will be around 10 million bucks. My prediction. Or an out of court settlement with us never knowing.

Edited February 26, 2013 by The Silver Thong

[Coffey]

BP is 40% British-owned, 39% American owned and its boss is a Swede. BP doesn't even stand for "British Petroleum" anymore since it merged with American oil company AMOCO

It's hardly a "UK company".

The Americans, when referring to that oil spill, just like to keep referring to it as a "British company" to pin all the blame for it on foreigners. The number of times that American newsreaders and American internet users at the time of the oil spill who called it "a British company" was just infurtiating.

Beyond Petroleum..... I really don't get that... lol

I mean what does it mean really.... If they still centre their business around oil, then they are not beyond it are they? lol

[Yamato]

Beyond Petroleum..... I really don't get that... lol

I mean what does it mean really.... If they still centre their business around oil, then they are not beyond it are they? lol

That's a good question Coffey but I think what it means is, their corporate mission is going to be open to alternatives to petroleum in the future which is going to be a necessity for their long term survival so it just makes sense and they openly marketed themselves that way earlier than the other majors in the oil industry. Global growth in petroleum consumption isn't going to last. Asia will adjust the curve and delay the inevitable but consumption has already plateaued in the US and hopefully that trend will be permanent.

BP to their credit has sunk billions into alternative energy projects going back to 2005. Alternatives won't dominate their portfolio overnight, but the allocation is shifting to alternatives from what was once a pure petroleum play.

http://articles.marketwatch.com/2012-07-11/industries/32614233_1_cellulosic-ethanol-alternative-energy-wind-energy

BP should pay a huge price for their mistake in the Gulf but I have to admit, their efforts could have been a lot worse. I'm not a fan of oil companies by any stretch of the imagination, but plenty of other players like Exxon-Mobil, Chevron-Texaco, Transocean, Marathon Oil, Noble Corporation, etc. deserve at least as much contempt as BP does.

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BP 'egregious' for drilling Macondo oil spill well

BP has been accused of disregarding evidence during drilling that the Macondo oil well was unstable.

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BP accepts partial responsibility for the oil spill, but claims other firms at the trial share the blame and costs.

These include Transocean, the operator of the Deepwater Horizon rig being used, and Halliburton, who provided cement for lining the Macondo well.

http://www.bbc.co.uk...siness-21609888

Edited February 28, 2013 by Render