Gulf Of Mexico News
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The trial that will determine the extent of any liability U.K.-based energy company BP Plc and its partners face for the April 2010 Gulf of Mexico oil spill is scheduled to begin next week in New Orleans federal court.
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Updated 10 minutes ago
BP Plc, Transocean Ltd. and Halliburton Co., with billions of dollars on the line, are set to find out from a federal judge who among them is to blame for the April 20, 2010, explosion and sinking of the Deepwater Horizon oil rig in the Gulf of Mexico.
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Petroleo Brasileiro SA said it started production at the Cascade field in ultradeep waters in the Gulf of Mexico, according to a regulatory filing today.
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President Barack Obama said his Republican critics are “licking their chops” at the prospect of rising gasoline prices as higher energy costs threaten to crimp the economic recovery.
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-- CGG Veritas, the world’s largest seismic surveyor of oilfields, said demand for its services is strengthening after recording a loss in 2011.
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A U.S. investigation of possible insider-trading by Goldman Sachs Group Inc. employees expanded to include a managing director whose name emerged at the trial of convicted hedge fund manager Raj Rajaratnam, a person with knowledge of the probe said.
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BP Plc and partners in the Azeri- Chirag-Guneshli development in the Caspian Sea pumped 35.4 million metric tons of oil last year, down 13 percent.
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SandRidge Energy Inc., the U.S. explorer that pumps oil from aged fields while competitors drill in younger shale plays, has become the most-leveraged independent producer as it ramps up crude production.
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Donald Hudson, who was a manager at Helmerich & Payne Inc., was charged with lying to a federal agent reviewing blowout prevention testing and records of drilling rigs in the Gulf of Mexico.
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The number of oil and natural gas rigs in the Gulf of Mexico is higher than prior to the BP Plc well blowout and spill in April 2010, U.S. Interior Secretary Ken Salazar said.
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