The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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: 510.40
Bid: 509.40
Ask: 509.50
Change: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
High: 516.60
Low: 506.10
Prev. Close: 515.80
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

First BP trial witness says company put cost cuts over safety

Tue, 26th Feb 2013 16:53

By Kristen Hays

NEW ORLEANS, Feb 26 (Reuters) - BP Plc fostered aculture that put cost-cutting over safety before the deadly 2010Gulf of Mexico oil spill, a noted forensic engineer said in thefirst day of testimony in the federal civil trial centered onthe disaster.

"There is ample evidence of intense pressure within thesystem to save time and money," said Bob Bea, co-founder of theCenter for Catastrophic Risk Management at the University ofCalifornia, Berkeley. "With stress and pressure come sacrificesto safety."

Bea was the first witness for the plaintiffs, the U.S.Justice Department and U.S. Gulf Coast states suing well ownerBP, rig owner Transocean Ltd and well cement providerHalliburton Co.

The plaintiffs plan to call Lamar McKay, chairman andpresident of BP America, to testify as a hostile witness onceBea wraps up. McKay is a member of the London-based oilcompany's executive committee, alongside Chief Executive OfficerBob Dudley.

Bea consulted with the White House commission thatinvestigated the spill and prepared a report faulting BP for theplaintiffs in the case. He also had consulted with BP on riskmanagement prior to 2005.

He said BP cut its Gulf of Mexico costs by 22 percent from2008 to 2009 while increasing oil and gas output by 55 percent.

Bea said during questioning by Robert Cunningham, a lawyerfor the plaintiffs, that he had told BP that "money isn'teverything" and that incentives for major accident preventionshould be on equal footing with incentives for profits.

"It's a culture of every dollar counts," Bea said.

He had yet to be cross-examined by BP lawyer Mike Brock.

The April 2010 blowout caused an explosion that killed 11men, sank a rig and spewed more than 4 million barrels of crudeoil into the Gulf.

Well-known in New Orleans, the site of the trial, Bea was akey witness in litigation over failed levees when HurricaneKatrina hit in 2005, flooding much of the city and leaving morethan 1,800 people dead.

The nonjury trial before U.S. District Judge Carl Barbier issplit into three phases, with the first focused on allocatingblame among the defendants and the severity of their negligence.

More News
3 May 2024 13:47

British regulator awards more North Sea oil and gas licences

NSTA awards 31 new licences aimed at boosting output

*

Read more
2 May 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 shines but "mixed feelings" after Fed

(Alliance News) - London's FTSE 100 was solidly higher on Thursday, outperforming European peers, as earnings from the likes of Shell and Standard Chartered impressed.

Read more
1 May 2024 18:30

Sector movers: Oil, Autos drag on FTSE 350

(Sharecast News) - Weakness in the oil patch and among select cyclicals dragged on the FTSE 350 in the middle of the week.

Read more
30 Apr 2024 14:38

UK earnings, trading statements calendar - next 7 days

Wednesday 1 May 
Anexo Group PLCFull Year Results
Cambridge Cognition Holdings PLCFull Year Results
Computacenter PLCTrading Statement
Georgia Capital PLCQ1 Results
GSK PLCQ1 Results
Haleon PLCTrading Statement
HSS Hire Group PLCFull Year Results
Intelligent Ultrasound Group PLCFull Year Results
Maintel Holdings PLCFull Year Results
Next PLCTrading Statement
Smith & Nephew PLCTrading Statement
Thursday 2 May 
Endeavour Mining PLCQ1 Results
First Tin PLCTrading Statement
Hiscox LtdTrading Statement
International Personal Finance PLCTrading Statement
Kerry Group PLCTrading Statement
Lancashire Holdings LtdTrading Statement
Melrose Industries PLCTrading Statement
NAHL Group PLCFull Year Results
Reach PLCTrading Statement
Shell PLCQ1 Results
Smiths News PLCHalf Year Results
Smurfit Kappa Group PLCTrading Statement
Spectris PLCTrading Statement
Standard Chartered PLCQ1 Results
TI Fluid Systems PLCQ1 Results
Friday 3 May 
InterContinental Hotels Group PLCTrading Statement
Mondi PLCTrading Statement
Trainline PLCFull Year Results
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Arecor Therapeutics PLCFull Year Results
BP PLCQ1 Results
Ebiquity PLCFull Year Results
IWG PLCTrading Statement
Kosmos Energy LtdQ1 Results
MaxCyte IncQ1 Results
Trident Royalties PLCTrading Statement
Vaalco Energy IncQ1 Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
29 Apr 2024 14:21

Norway's wealth fund falls short on climate ambitions, NGO says

OSLO, April 29 (Reuters) - Norway's $1.6 trillion sovereign wealth fund, the world's largest, is falling short on its climate ambitions by failing to back multiple shareholder proposals pushing oil companies to cut their greenhouse gas emissions, a non-governmental organization said in a report said on Monday.

Read more
24 Apr 2024 19:30

Trans Mountain oil shippers raise concerns about risk of delay to full service

April 23 (Reuters) - Some shippers on Canada's Trans Mountain expansion project are raising concerns that the long-delayed oil pipeline will not be fully in service by its projected start date of May 1, according to a letter to the Canada Energy Regulator on Tuesday.

Read more
24 Apr 2024 13:24

Pressure on gas and LNG prices to help switch from coal, says J.P. Morgan

LONDON, April 24 (Reuters) - Global natural gas prices will come under pressure through the end of the decade as supply and shipping infrastructure grow rapidly, particularly in Qatar and the U.S., J.P. Morgan said in a report.

Read more
24 Apr 2024 09:58

Aker BP Q1 beats forecast as costs fall, Tyrving to start sooner

OSLO, April 24 (Reuters) - Norwegian independent oil company Aker BP on Wednesday posted higher-than-expected net profit for the first quarter as costs fell, and said its Tyrving field development could start production sooner than previously planned.

Read more
24 Apr 2024 05:38

Aker BP Q1 beats forecast on record output, lower cost

OSLO, April 24 (Reuters) - Norwegian independent oil company Aker BP on Wednesday posted a higher-than-expected net profit for the first quarter as production hit a record while costs fell.

Read more
18 Apr 2024 14:45

BP's gas and renewables boss steps down, as CEO shrinks leadership

LONDON, April 18 (Reuters) - BP said on Thursday its head of natural gas and low carbon energy Anja-Isabel Dotzenrath will step down after just over two years, while CEO Murray Auchincloss announced plans to simplify its management structure.

Read more
18 Apr 2024 14:12

UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
Quantum Exponential Group PLCGM re delisting or potential investment in company
Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
AIQ LtdAGM
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
AFC Energy PLCAGM
Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
Schroders PLCAGM
Smithson Investment Trust PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
18 Apr 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 up despite hawkish Fed rates outlook

(Alliance News) - Stock prices in London were higher on Thursday afternoon, despite the prospect of higher for longer US interest rates hanging over stocks.

Read more
18 Apr 2024 09:04

IN BRIEF: BP trims executive team in operational restructuring

BP PLC - London-based oil and gas major - Announces organisational restructuring. Intends to keep its three businesses - production & operations, gas & low carbon energy and customers & products - enabled by trading & shipping. Plans to integrate the current regions, corporates & solutions organisation into the businesses and functions. BP will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal. BP explains these changes will "reduce duplication and reporting line complexity".

Read more
18 Apr 2024 08:11

BP cuts size of executive team, shakes up structure

(Sharecast News) - BP has trimmed its executive team as part of a shake-up of its organisational structure, it was confirmed on Thursday.

Read more
17 Apr 2024 18:58

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, that called on the energy company to set tighter climate targets.

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.