Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 482.55
Bid: 482.60
Ask: 482.70
Change: 0.85 (0.18%)
Spread: 0.10 (0.021%)
Open: 479.85
High: 486.50
Low: 479.05
Prev. Close: 481.70
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

BP sues Louisiana regulator over spill cleanup

Thu, 19th Sep 2013 22:01

HOUSTON, Sept 19 (Reuters) - BP Plc sued a Louisianaregulator on Thursday for requiring the company to retrieveanchors lost or buried during cleanup of its 2010 Macondo oilspill, even though the U.S. Coast Guard has said that would hurtthe environment in the Gulf of Mexico.

The filing, in federal court in Baton Rouge, alleges thatthe Louisiana Department of Natural Resources ordered thecompany to violate federal law that prohibits retrieval of theanchors.

The anchors were dropped throughout the Gulf to hold linesof boom in place that were used to capture oil after the Macondodisaster that killed 11 men and sent more than 4 million barrelsof oil spewing into the sea. BP said it deployed the booms aspart of a U.S. government-directed spill response.

Many anchors were removed after the cleanup, but others lostor buried were left.

BP said the company cannot comply with Louisiana's demandthat it recover the rest because federal law prohibits retrievalof so-called "orphan anchors."

The filing on Thursday was the latest of more than a dozenmotions or appeals BP has made over the cleanup or to slowpayouts from a 2012 settlement to compensate people harmed bythe spill.

BP has complained that the settlement, which was not capped,has been mismanaged by the claims administrator and it iscosting the company more than expected.

The company has also sued the U.S. government after thecompany was excluded from bidding for new federal contracts,including leases to explore and drill in the Gulf.

The Macondo disaster, the worst-ever offshore oil spill inU.S. history, so far has cost BP about $42.4 billion in chargeson its balance sheet from payouts, cleanup and restoration costsand ongoing litigation.

Separately, the second phase of the main trial overliability for the Macondo spill is scheduled to start Sept. 30.

The first phase of the trial was held to determine blame forthe spill, although the federal judge overseeing the case hasreserved his findings. The second phase of the trial willconsider the amount of oil spilled to assign damages.

More News
15 Apr 2024 17:10

LONDON MARKET CLOSE: Investors show nerves after Iran launches drones

(Alliance News) - Stock prices in London closed down on Monday, as tensions in the Middle East weighed on investors, with resources sliding as commodity prices fell.

Read more
15 Apr 2024 15:39

London close: Stocks slip on renewed geopolitical tensions

(Sharecast News) - London's equity markets markets experienced a downturn on Monday, with losses particularly notable in the mining and oil sectors, as investors remained cautious amid to escalating geopolitical tensions in the Middle East.

Read more
15 Apr 2024 11:56

LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions

(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.

Read more
15 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 falls as oil lower despite Iran strikes

(Alliance News) - Stock prices in London opened lower on Monday, with a decline in oil prices sending Shell and BP lower, in a cautious start to the week following Iran's strikes on Israel over the weekend.

Read more
13 Apr 2024 16:52

Sector movers: Investors seek out safe havens across all asset classes

(Sharecast News) - Commodity plays were again sought out at the end of the week after The Wall Street Journal said that an Iranian attack against Israel was thought to be imminent.

Read more
12 Apr 2024 17:28

FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

*

Read more
12 Apr 2024 16:56

LONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere

(Alliance News) - London's FTSE 100 defied a tricky day for wider markets, as its miners and oil producers shone, while the dollar was supported as odds of the US Federal Reserve enacting three interest rate cuts this year dwindle.

Read more
12 Apr 2024 15:45

Europe's main energy stocks index hits highest since 2008

April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

Read more
12 Apr 2024 14:45

London close: Stocks mixed as data shows UK GDP growth

(Sharecast News) - London's markets closed with a mixed performance on Friday, as investors digested the latest GDP data suggesting an end to the recession in the UK.

Read more
12 Apr 2024 11:51

LONDON MARKET MIDDAY: February data spurs end of UK recession hopes

(Alliance News) - Stocks in London got a boost on Monday at midday, as investors were optimistic that the UK is heading out of its short lived recession.

Read more
12 Apr 2024 11:47

Europe's main energy stocks index hits highest since 2008

April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

Read more
12 Apr 2024 11:37

TOP NEWS: BP shares rise after reports Adnoc had pondered takeover

(Alliance News) - Shares in BP jumped on Friday after reports that the state-owned, United Arab Emirates oil company was considering, but had ruled out, a bid for the London-based oil major.

Read more
12 Apr 2024 08:58

LONDON MARKET OPEN: Stocks get boost thanks to growth in UK economy

(Alliance News) - Stock prices in London opened higher on Friday, thanks to new data suggesting the UK economy is out of recession.

Read more
12 Apr 2024 07:56

UAE's ADNOC said to have recently considered BP takeover

(Sharecast News) - The United Arab Emirates' state-owned oil company recently considered buying BP but the deliberations did not progress beyond preliminary discussions, according to a report.

Read more
11 Apr 2024 14:41

Senegal says oil, gas and mine contracts will be reworked if needed

DAKAR, April 11 (Reuters) - Senegal's new Energy and Mines Minister said on Thursday the government would renegotiate oil, gas and mining contracts if necessary once a promised audit is completed.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.