REMINDER: Our user survey closes on Friday, please submit your responses here

Less Ads, More Data, More Tools Register for FREE
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPOView Video
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plantView Video

Latest Share Chat

US to sue BP over Gulf of Mexico oil spill

Thu, 16th Dec 2010 07:33

Shares in BP were under pressure Thursday after the US government filed a civil lawsuit against it and eight other companies over the Deepwater Horizon oil rig explosion and the subsequent oil spill in the Gulf of Mexico.The complaint, which has been filed at a District Court in New Orleans, names eight other defendants including the insurer Lloyds of London, rig owner Transocean and oil exploration group Anadarko. The US is seeking unlimited damages.Halliburton, which supplied cement to plug the well, is not named in the lawsuit.Fines could exceed $21bn (£13.4bn), on top of the $30bn BP has already paid in compensation, if it is accused of gross negligence and this is proven. Damages are being sought under the Clean Water Act, which prohibits the unauthorised discharge of oil into US waters, and allows the US to seek damages of $1,100 for each barrel of oil spilled. "We intend to prove that these defendants are responsible for government removal costs, economic losses and environmental damages without limitation," said US Attorney-General Eric Holder."Even though the spill has been contained, the department's focus on investigating this disaster and preventing future devastation has not wavered."Assistant attorney-general Tony West said: "We have not asked for damages at this point because it's going to take years to fully quantify what the damages are."BP responded to the filing of the lawsuit, saying: "The filing is solely a statement of the government's allegations and does not in any manner constitute any finding of liability or any judicial finding that the allegations have merit."

Related Shares

More News
9 May 2024 15:51

UK dividends calendar - next 7 days

9 May 2024 13:53

IN BRIEF: IP Group joins USD111 million financing round for Hysata

IP Group PLC - invests in companies pursuing breakthrough science - Portfolio company Hysata Pty Ltd completes USD111.3 million series B funding round...

9 May 2024 10:26

Balfour Beatty says trades in line amid "progress" on pacts

(Alliance News) - Balfour Beatty PLC on Thursday said it has traded in line with expectations so far in 2024, as it makes progress on major deals.

9 May 2024 09:53

LONDON BROKER RATINGS: NatWest target raised, other lenders backed

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

8 May 2024 13:19

Middle East Crude-Benchmarks fall, snapping two-day streak

SINGAPORE, May 8 (Reuters) - Middle East crude benchmarks Dubai, Oman and Murban fell on Wednesday after rising for consecutive days after Saudi Aramc...

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.