Tag: BP

Mitsui & Co. Ltd. agreed to pay the U.K. oil company nearly $1.1 billion BP PLC scored a modest victory in its efforts to force other companies involved in last year's disastrous Gulf of Mexico oil spill to cough up a share of the clean-up costs as Japan's Mitsui & Co. Ltd. agreed to pay the U.K. oil company nearly $1.1 billion.The move increases the likelihood that another partner in the well, Anadarko Petroleum Corp., will also settle. Anadarko Chief Executive James Hackett has previously indicated the Texas oil company was prepared to reach a compromise with BP "under the right circumstances."The settlement with Mitsui, which held a 10% stake in the project, marks the first time another company has acknowledged that BP is not exclusively to blame for the Deepwater Horizon disaster. It represents an about-face for the Japanese trading firm, which had previously claimed that BP's negligence absolved it of liability for the costs of the spill. Anadarko has taken a similar position.Analysts said it reduced the likelihood that BP will be found guilty of gross negligence, an outcome that would substantially increase the amount of environmental fines and penalties it is liable for over the Gulf of ...

He was thrown overboard while participating in a man overboard training drill A seaman has filed a lawsuit against BP after he was thrown overboard while participating in a man overboard training drill.James G. Young, II filed suit against BP Exploration & Production Inc. and Danos & Curole Marine Contractors on March 25 in Lafourche Parish District Court. The defendants removed the case to federal court in New Orleans on April 28.Young was employed as a marine operation technician aboard the Thunder Horse PDQ and was assigned to a fleet of vessels including 60 to 80 passenger lifeboats and a fast response craft. On April 3, 2010, Young was participating in a man overboard training drill while aboard the fast response craft.According to the lawsuit, the craft was only designed to hold three people but on the day of the accident, four members of the marine department were aboard. Young states he was required to stand in the vessel and hold onto a railing attached to the center console. During the drill, the vessel was turned into a wave and the vessel was struck by a wave, throwing Young overboard. Young states he injured his right shoulder during the accident.The ...

Lawsuit against BP Cruise operator Carnival Corp has filed a lawsuit against BP Plc and other companies seeking damages that resulted from the biggest oil spill in U.S. history.The lawsuit, filed on April 20 in U.S. District Court in New Orleans, also named Cameron International Corp, Transocean Ltd, and Halliburton Co, along with several others.Carnival said it lost bookings and revenues for cruises in the Gulf of Mexico from ports in Florida, Alabama, Texas and Louisiana. It is seeking unspecified economic and compensatory damages with interest, the costs of litigation, and punitive damages.Carnival is suing all defendants for negligence and Cameron specifically for allegedly designing and manufacturing a defective blowout preventer.It is also suing BP, Transocean, and Halliburton for fraudulent concealment of material facts about the spill. BP "did not provide complete and timely announcements and warnings about the severity, forecast and trajectory of the oil spill," the complaint said. Transocean owned the Deepwater Horizon oil rig and Halliburton manufactured the cement used to seal the well.The cruise operator filed the 26-page lawsuit in the same court where hundreds of other lawsuits against BP and its partners have been consolidated. A federal judge has set a trial date of February ...