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Share Price: 490.80
Bid: 490.45
Ask: 490.55
Change: -0.45 (-0.09%)
Spread: 0.10 (0.02%)
Open: 488.80
High: 491.55
Low: 486.00
Prev. Close: 491.25
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Halliburton manager pleads guilty to destroying Gulf spill evidence

Tue, 15th Oct 2013 19:14

NEW ORLEANS, Oct 15 (Reuters) - A Halliburton Co manager formally pleaded guilty in U.S. federal court on Tuesdayto destroying evidence in connection with the oilfield servicescompany's role in the BP oil spill in the Gulf of Mexicoin 2010.

The plea by Anthony Badalamenti, former cementing technologydirector, was submitted a month after Halliburton also pleadedguilty to similar charges over the deletion of computersimulations of the stability of the ill-fated Macondo well.

Halliburton provided cementing services for BP at theMacondo drilling operation - including the placement of"centralizers," or huge plugs, at various points in piping as itwas placed inside the drilled well. Centralizers help ensurecement properly seals a well.

Halliburton had recommended BP use 21 centralizers in theMacondo well, and BP chose to use six. Halliburton later claimedthat if BP had followed its recommendation to use more, the wellwould have been more stable.

According to court documents, the government alleged that inMay 2010, as part of Halliburton's review of the oil spill whichbegan in April and was plugged in July, Badalamenti directedanother manager to run computer simulations comparingperformance of 21 centralizers with that of six.

In June that year, Badalamenti allegedly directed a secondmanager to run a similar comparison.

Both times, the simulations indicated there was littledifference between use of 21 centralizers as opposed to six.Prosecutors allege that both times, Badalamenti ordered themanagers to delete the simulation results from their computers,and both complied - even though a company executive had askedemployees to preserve material related to the well.

The Macondo accident killed 11 workers and the governmentsays 4.9 million barrels of oil spilled into the sea. It took 87days to contain the well.

In an ongoing, multi-phase civil trial over the cause of thewell explosion in federal court in New Orleans, both thegovernment and BP contend that faulty cement work by Halliburtoncontributed to the disaster.

BP also contends that Halliburton destroyed computerevidence that would have shown those errors.

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Equinor takes stakes in 2 Angola oil exploration blocks

OSLO, Dec 22 (Reuters) - Equinor has secured stakes in two more oil exploration blocks offshore Angola as it seeks to extend its presence in the country, the head of the Norwegian company's Africa operation said in a statement on Friday.

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22 Dec 2023 19:20

Equinor takes stakes in 2 Angola oil exploration blocks

OSLO, Dec 22 (Reuters) - Equinor has secured stakes in two more oil exploration blocks offshore Angola as it seeks to extend its presence in the country, the head of the Norwegian company's Africa operation said in a statement on Friday. (Reporting by Terje Solsvik, editing by Essi Lehto)

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US offshore wind poised for success next year after turbulent 2023

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US Gulf of Mexico oil auction is largest since 2015

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20 Dec 2023 17:37

US Gulf of Mexico oil auction raises $382 million in high bids

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Shipping container price surge to reverse due to overcapacity -logistics platform

MUMBAI, Dec 20 (Reuters) - Higher prices for containers used by merchant ships caused by attacks on Red Sea shipping are likely to fall back in three to nine months to levels seen in early December due to market overcapacity, the head of an online container logistics platform said on Wednesday.

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20 Dec 2023 15:05

London close: Stocks rise as UK inflation slows further

(Sharecast News) - London's stock markets saw a notable upswing on Wednesday, driven by encouraging data revealing a greater-than-anticipated slowdown in UK inflation for November.

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19 Dec 2023 20:11

Norwegian Johan Sverdrup crude prices soar on Red Sea shipping issues

LONDON, Dec 19 (Reuters) - Prices for Norway's Johan Sverdrup crude soared on Tuesday, a move traders said could be linked to mounting concerns around the security of crude flows into Europe following maritime attacks by Yemen's Houthis in the Red Sea.

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19 Dec 2023 19:10

US launches Red Sea force as ships reroute to avoid attacks

Crisis is spillover from Israel-Hamas war

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19 Dec 2023 17:14

Shippers mask positions, weigh options amid Red Sea attacks

Dec 19 (Reuters) - A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.

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19 Dec 2023 17:01

LONDON MARKET CLOSE: Stocks close higher ahead of UK inflation data

(Alliance News) - Stock prices in Europe closed higher on Tuesday, after data confirmed that the eurozone is inching closer towards its 2% inflation targets.

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19 Dec 2023 15:02

London close: Stocks manage gains amid holiday slowdown

(Sharecast News) - London's financial markets showed resilience on Tuesday, maintaining positive momentum despite the usual holiday slowdown.

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19 Dec 2023 13:18

UK warns of deteriorating security in Red Sea, Royal Navy ship joins taskforce

LONDON, Dec 19 (Reuters) - Britain warned that the security situation in the Red Sea was deteriorating and ballistic missile and drone attacks were an increased threat, as it agreed for a Royal Navy Destroyer to join a U.S.-led operation to safeguard commerce in the region.

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19 Dec 2023 11:49

LONDON MARKET MIDDAY: FTSE 100 flat; Eurozone inflation cools to 2.4%

(Alliance News) - Stock prices in London were mixed at midday Tuesday, despite news that the eurozone's inflation is edging closer to its 2% target.

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