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Tag Archives: gulf of mexico

Judge: BP not to pay oil industry losses from moratorium

Judge: BP not to pay oil industry losses from moratorium

NEW ORLEANS (AP) — A federal judge ruled that BP does not have to pay for economic losses other businesses suffered when the federal government shut down deep-water drilling in the wake of BP’s catastrophic 2010 oil spill in the Gulf of Mexico. U.S. District Judge Carl Barbier in New Orleans issued his ruling late Thursday. The Obama administration imposed ...

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Anadarko reports $1.25 billion loss in 4Q

Anadarko reports $1.25 billion loss in 4Q

Anadarko Petroleum posted a loss of $1.25 billion in the fourth quarter. The Texas-based company plans to slash nearly half of its budget next year as it weathers plunging oil prices. For the year, Anadarko posted losses of $6.69 billion, or $13.18 per share. Anadarko CEO Al Walker said the company’s decision not to expand drilling programs in 2015 paid ...

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Proposed federal rule costly for Gulf oil operations

Proposed federal rule costly for Gulf oil operations

Exploratory drilling in the Gulf of Mexico could decline by 55 percent under a proposed federal rule, according to a new study. The proposed Well Control Rule addresses recommendations made after the Deepwater Horizon oil spill. It tightens standards on blowout preventers and puts more controls on how companies drill and monitor wells on the ocean floor. A study by ...

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Company sues feds over funds for Gulf oil leak

oil leak

The company responsible for a continuing oil leak that began a decade ago in the Gulf of Mexico is suing the federal government to recover more than $400 million that the company set aside for work to end the leak. New Orleans-based Taylor Energy Company’s lawsuit, filed Monday in the U.S. Court of Federal Claims, says the government violated a ...

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Company to hold meeting on decade-old oil leak in Gulf

BATON ROUGE, La. — The company responsible for a decade-old oil leak in the Gulf of Mexico will hold a public meeting next month to disclose details of its efforts to stop chronic slicks from forming off Louisiana’s coast. The Jan. 20 forum in Baton Rouge was a requirement of Taylor Energy Co.’s court settlement in September with environmental groups, which ...

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