News Breaks |
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| January 30, 2013 |
| 06:08 EDT |  | BP | BP $4B guilty plea wins final approval
BP yesterday announced that the U.S. District Court for the Eastern District of Louisiana has accepted the company’s plea resolving all federal criminal charges against the company stemming from the Deepwater Horizon accident, oil spill, and response. The company offered its plea to the Court and was sentenced in connection with the agreement BP reached with the Department of Justice on November 15, 2012. As previously announced, BP will pay $4B over a period of five years and will serve a term of five years’ probation. Pursuant to the terms of the plea agreement, the Court also ordered certain equitable relief, including additional actions related to BP’s risk management processes as well as several initiatives with academia and regulators to develop new technologies related to deepwater drilling safety. In addition, as outlined in the company’s November 2012 agreement with the DOJ, BP will appoint a process safety monitor and an ethics monitor, both with a term of four years, and an independent auditor will report annually on BP’s compliance with the remedial terms of probation. |
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News For BP From The Last 14 Days Check below for free stories on BP the last two weeks. |
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| May 23, 2013 |
| 07:47 EDT |  | BP | Restrictions may force BP to surrender KG basin block, Economic Times reports
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| May 22, 2013 |
| 09:43 EDT | | BP | BP plans to increase production, investment in Iraq, DJ reports
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| 07:49 EDT | | BP | BP fights "unjustified" Gulf oil spill payments, FT reports
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| May 20, 2013 |
| 08:08 EDT | | BP | EU to review fracking concerns, Reuters reports
Environmental concerns over the practice of hydraulic fracturing to get at shale gas will be on the EU's agenda this year, EU Energy Commissioner Guenther Oettinger told the German newspaper Die Welt, reports Reuters. Reference Link |
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| 05:40 EDT | | BP | U.S. oil futures rally as many commodities decline, WSJ reports
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| May 17, 2013 |
| 16:21 EDT |  | BP | On The Fly: Closing Wrap
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| 13:09 EDT | | BP | Tesoro receives FTC clearance for purchase of BP refining, marketing business
Tesoro (TSO) announced that the Federal Trade Commission has cleared the company's planned acquisition of BP's (BP) fully integrated Southern California Refining and Marketing business and that Tesoro intends to close the acquisition during Q2. The clearance from the FTC came without any impacts to the assets or operations in the transaction as announced in August of last year. The purchase price of BP's assets is $1.075B, plus the market value of inventory, currently estimated at $1.3B. This amount includes a $100M purchase price reduction for the clearance with regulatory authorities. |
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| May 16, 2013 |
| 14:46 EDT | | BP | Tesoro may take over BP California assets as soon as June 1, Reuters says
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| 14:32 EDT | | BP | Tesoro may take ownership of BP Carson refinery, other assets as soon as June 1
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| 07:11 EDT | | BP | BP wants PM Cameron to discuss Gulf compensation with U.S., Reuters reports
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| 06:08 EDT | | BP | On the Fly: Periodicals Wrap-Up
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| May 15, 2013 |
| 08:38 EDT | | BP | WTI crude falls for a fith consecutive day, Bloomberg reports
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| 05:55 EDT | | BP | EU inspects firms in oil investigation, WSJ reports
EU antitrust authorities carried out unannounced inspections of energy giants BP (BP), Royal Dutch Shell (RDS.A) and Statoil (STO), escalating an investigation of alleged oil-price manipulation amid scrutiny of how prices are set in global financial markets, reports the Wall Street Journal. EU officials are investigating whether the three companies manipulated prices in the $2.5T physical-oil market by giving false data to an oil index publisher, the Platts unit of McGraw Hill Financial (MHFI). Platts's offices were also inspected.Reference Link |
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| May 14, 2013 |
| 11:08 EDT | | BP | BP says involved in EC probe, cooperating with investigation, Bloomberg reports
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| 07:10 EDT | | BP | IEA says North American oil will dominate world supply growth, WSJ reports
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