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BP, Gulf Spill Partners Sue Each Other

MIAMI -- After being hammered for a year over the Gulf of Mexico oil spill, BP is going on the offensive with multibillion-dollar lawsuits seeking to shift at least part of the blame to those who owned the ill-fated rig or designed a failed safety device or supplied cement that didn't hold. Those companies - Transocean,...

BP Sues Rig Owner for $40B; Blames It for Disaster

NEW ORLEANS -- BP on Wednesday sued the maker of the device that failed to stop last year's calamitous Gulf oil spill and the owner of the rig that exploded, alleging that negligence by both helped cause the disaster. The British company said in papers filed in federal court in New Orleans that it is suing rig owner...

Science May Be Murky in the Gulf for Years

Oil is still in a few places in the Gulf, but for the most part it looks pristine. Anecdotal evidence indicates a rapidly recovering area -- escaped crude oil itself is scarce, and regular tests by the Louisiana Department of Wildlife and Fisheries have yet to reveal any tainted seafood. But the Gulf of Mexico and its...

BP Is Looking Strong a Year After Gulf Oil Spill

NEW ORLEANS -- It's hard to tell that just a year ago BP was reeling from financial havoc and an American public out for blood. The oil giant at the center of one of the world's biggest environmental crises is making strong profits again, its stock has largely rebounded, and it is paying dividends to shareholders once...

Scientists: Gulf Health Nearly Back to Pre-Spill Level

BAY JIMMY, La. -- Scientists judge the overall health of the Gulf of Mexico as nearly back to normal one year after the BP oil spill, but with glaring blemishes that restrain their optimism about nature's resiliency, an Associated Press survey of researchers shows. More than three dozen scientists grade the Gulf's big...

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BP considers selling its stake in TNK-BP

MOSCOW -Oil giant BP says it could sell its 50 percent stake in its Russian joint venture TNK-BP.

THE HUFFINGTON POST - BUSINESS

Emails Reveal High-Level Discord at BP Over Flow Estimates During 2010 Oil Spill

A BP engineering executive warned senior BP management early on in the 2010 Gulf of Mexico oil spill that internal models did not support estimates of the size of the undersea leak being provided to government officials and the public, according to company emails.

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06/02/12 Baron and Budd Announces Federal Judge's Preliminary... Source: 99 Cents Only Stores DALLAS--( BUSINESS WIRE )-- On May 31, 2012, U.S. District Judge J. Phil Gilbert of the U.S. District Court for the Southern District of Illinois gave preliminary approval to a proposed settlement that would provide $105 million to hundreds of public water providers who have atrazine in their source water.
06/02/12 BP plans to sell its 50% stake in Russian TNK-BP joint... Source: Seoul News British energy major BP plans to sell its 50% stake in its beleaguered TNK-BP Russian joint venture following "unsolicited indications of interest" in the holding, the company announced Friday.
06/02/12 Drumbeat: June 2, 2012 Source: The Oil Drum Clinton talks cooperation in resource-rich Arctic To safely exploit the riches, the U.S. and other countries near the North Pole are trying to work together to combat harmful climate change, settling territorial disputes and preventing oil spills.
06/02/12 The price of fuel: âWorst may be over' Source: Albany Democrat-Herald - Albany OR Gasoline prices in the mid-valley and the Northwest may have peaked after reaching record highs, one analyst said Friday.
06/02/12 Hands off coastal restoration money Source: LoHud.com - White Plains NY As a nation, we don't do multiyear, multibillion-dollar projects well anymore.