Anadarko Petroleum Corp., a partner in the BP Plc well that was the source of the largest U.S. offshore spill, asked a federal judge in Texas to throw out a lawsuit claiming the company misled investors over the project’s risks before and after the blowout.
BP Plc, attempting to recover from an oil spill that may cost it $42 billion, said it will sell shares in wind assets worth as much as $3.1 billion in the U.S. in another step to focus on its main oil and gas business.
On April 20, 2010, BP ’s Deepwater Horizon rig exploded, killing 11 men and injuring 17. During the next three months, 200 million gallons of oil gushed uncontrollably into the Gulf of Mexico, leading to the worst ecological disaster in U.S. history.
Two U.K. drillers are taking the lead in exploring for the country’s first shale gas after a moratorium ended, with one of them backed by ex-BP Plc chief John Browne and the other soon to count China as an investor.
With $14 billion from selling out of TNK-BP, Mikhail Fridman and German Khan’s Alfa Group is planning to return to the oil industry and expand worldwide, according to Stan Polovets, chief executive officer of the Alfa- Access-Renova Consortium, which owned the Russian oil venture 50:50 with BP Plc.
BP Plc’s decision to consider selling out of its Russian venture signals the end for John Browne’s vision of a British driller able to challenge Exxon Mobil Corp. as the world’s largest publicly-traded oil producer.