New Deepwater Oil Project on the US Shelf
BP has made a final investment decision on the Kaskida project in the Gulf of Mexico. The field will become the international oil company’s sixth production hub in the region. A new floating platform with a capacity of 80,000 barrels per day will be installed here. During the first stage …
BP: Q1 Results – Strong Operation Performance, Cost Reductions on Course
BP today reported its results for the first quarter of 2016. Underlying replacement cost profit1 for the quarter was $532 million, compared with $196 million for the previous quarter and $2.6 billion for the first quarter of 2015. Compared with the previous quarter, lower costs throughout the Group more than …
BP to Settle Federal, State and Local Deepwater Horizon Claims for up to $18.7 Billion With Payments to be Spread Over 18 Years
The Disclosure and Transparency Rules (“DTR”) made by the Financial Conduct Authority govern amongst other matters the disclosure of inside information. Accordingly in compliance with Rule 2.2, BP plc makes the following announcement Five years on from the Deepwater Horizon accident and spill in 2010, BP has reached agreements in …
BP Reaches Administrative Agreement with EPA Resolving Suspension and Debarment
Agreement Clears the Way for BP to Enter Into New Contracts With the Federal Government BP today announced that it has entered into an administrative agreement with the United States Environmental Protection Agency (EPA), on behalf of the federal government, resolving all matters related to the suspension, debarment and statutory …
BP Announces Resolution of All Criminal and Securities Claims by U.S. Government Against Company Relating to Deepwater Horizon Accident
– Resolution of all criminal claims with Department of Justice includes $4 billion paid in installments over a period of five years – Resolution of all securities claims with Securities and Exchange Commission includes $525 million paid in installments over a period of three years – Existing $38.1 billion charge …
Joint Statement by BP and the Plaintiffs’ Steering Committee
BP and the Plaintiffs’ Steering Committee (PSC) confirmed that the U.S. District Court has today adjourned the start of the Deepwater Horizon Multi-District Litigation 2179 civil trial by one week, until Monday, March 5th. This adjournment is intended to allow BP and the PSC more time to continue settlement discussions …