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UPDATE 1-BP asks court to remove claims administrator in Gulf spill case

Tue, 02nd Sep 2014 21:38

(Adds quote from BP, background, separate settlement byHalliburton)

HOUSTON, Sept 2 (Reuters) - BP Plc asked a U.S. courton Tuesday to fire the court-appointed lawyer tasked with payingout compensation to people affected by the 2010 Gulf of Mexicooil spill, saying the lawyer had not disclosed an allegedconflict of interest before taking the job.

The motion in U.S. District Court in New Orleans said thelawyer, Patrick Juneau, lacks neutrality because he hadadvocated for claimants before the court appointed him to runthe claims program.

It was the latest in a series of legal challenges filed bythe London-based oil major, which has complained previously thatJuneau has been too generous and liberal when approving claims.

"In order to restore the integrity of the claims program,the court should replace him," BP said.

Juneau has said he is just applying the rules of the 2012settlement agreement that was approved by U.S. District JudgeCarl Barbier.

BP originally expected the class-action settlement toresolve economic and health claims by more than 100,000individuals and businesses to cost $7.8 billion. It has sincesaid the uncapped program could cost $9.2 billion and that thisamount could grow.

The 1,000-page settlement deal was negotiated by BP and acommittee of plaintiffs' lawyers to avoid individual lawsuits bycompensating a wide class of businesses and individuals in oneswoop.

BP has sustained more than $42 billion in charges from theApril 20, 2010, disaster aboard the Deepwater Horizon drillingrig that killed 11 workers in the worst offshore oil spill inU.S. history.

More charges are possible as the trial to determine blameand overall damages from the spill, including those under thefederal Clean Water Act, is ongoing.

Separately on Tuesday, oilfield services providerHalliburton Co reached a $1.1 billion settlement forclaims related to its role in the spill. Halliburton providedcementing services on the blown-out Macondo well.

The settlement protects Halliburton from certain punitivedamages if the court were to rule later that the company hadbeen "negligent" or "grossly negligent" for its role in theblowout, Chief Financial Officer Mark McCollum said.

The case can be found under: Oil Spill by the Oil Rig"Deepwater Horizon" in the Gulf of Mexico, on April 20, 2010,U.S. District Court, Eastern District of Louisiana, No.10-md-02179. (Reporting by Houston Newsroom; Editing by Leslie Adler)

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3 May 2024 13:47

British regulator awards more North Sea oil and gas licences

NSTA awards 31 new licences aimed at boosting output

*

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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.

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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.

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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.

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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.

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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.

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24 Apr 2024 13:24

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

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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.

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24 Apr 2024 05:38

Aker BP Q1 beats forecast on record output, lower cost

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18 Apr 2024 14:45

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

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18 Apr 2024 14:12

UK shareholder meetings calendar - next 7 days

Friday 19 April 
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Travis Perkins PLCAGM
Tuesday 23 April 
AIQ LtdAGM
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Taylor Wimpey PLCAGM
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abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
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Coro Energy PLCAGM
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Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
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Admiral Group PLCAGM
Beazley PLCAGM
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CLS Holdings PLCAGM
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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
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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
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LONDON MARKET MIDDAY: FTSE 100 up despite hawkish Fed rates outlook

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18 Apr 2024 09:04

IN BRIEF: BP trims executive team in operational restructuring

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BP cuts size of executive team, shakes up structure

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Shell urges investors to reject shareholder group's climate demands

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