Oil Spill 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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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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-- 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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Chevron Corp. is “pleased” that a Brazilian federal judge rejected an injunction by a prosecutor to suspend the company’s operations in the South American country.
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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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BP Plc investors said progress toward a settlement with the victims of the Deepwater Horizon disaster signals a share-price rebound, closing the $44 billion gap with the company’s value before the worst U.S. oil spill.
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BP Plc and lawyers for businesses and individuals suing over the 2010 Gulf of Mexico oil spill are near a $14 billion accord to be funded with money set aside for out-of-court settlements, according to three people familiar with the talks.
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Transocean Ltd., the world’s largest offshore-rig operator, reported a fourth-quarter loss after the company’s contract-drilling business lost market value, resulting in a writedown.
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