bp oil spill cost News

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Corrosion Threatens BP Pipelines in Alaska; Could Lead to More Spills

(Nov. 3) -- Though BP's gulf oil spill, now capped, is fading from the headlines, the company could soon be responsible for another all-too-familiar environmental catastrophe: ProPublica, a nonprofit investigative journalism outlet, has gotten its hands on an internal maintenance report on BP's Alaska pipeline system, and...

BP Back to Profitability, But Spill Cost Upped to $40 Billion

(Nov. 2) -- It may not be any consolation, but those in the Gulf of Mexico tourism and seafood industries still hurting economically from the oil spill do have some company. Though that company recently returned to profitability, it hasn't been cheap for BP either. In fact, it just got more expensive. In September, while...

BP Says Payouts Endangered if Barred From Drilling in Gulf

(Sept. 3) -- BP (BP) warned that any legislation that stops it from drilling for oil in the Gulf of Mexico could prevent the oil giant from paying out compensation related to this year's oil spill. Congress is currently considering legislation that would bar any company from receiving offshore drilling permits if more...

Why Are Realtors Getting Their Own $60 Million Oil Spill Compensation Side Fund?

(Aug. 20) -- In its comprehensive story on the new Gulf Coast Claims Facility, which on Monday will begin processing claims for the BP oil compensation fund under Ken Feinberg, the New York Times included a short paragraph about a $60 million slice of the $20 billion fund being set aside for the compensation of gulf state...

BP Says It May Drill Again in Gulf Spill Reservoir

NEW ORLEANS (Aug. 6) -- BP PLC said today it might someday drill again into the same lucrative undersea pocket of oil that spilled millions of gallons of crude, wrecked livelihoods and fouled beaches along the Gulf of Mexico. "There's lots of oil and gas here," Chief Operating Officer Doug Suttles said at a news briefing....