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February 25, 2013
07:33 EDTBPBP may be offered $16B settlement deal by DOJ, states, WSJ reports
The Justice Department and states at the Gulf Coast are considering offering BP (BP) a deal whereby the company would pay $16B to settle civil claims related to the deadly 2010 Deepwater Horizon incident, sources say, reports the Wall Street Journal. The settlement would cover potential fines owed by BP under the Clean Water Act, and payments under an environmental evaluation known as the Natural Resources Damage Assessment, the sources added. BP has agreed to pay more than $30B in fines, settlements and cleanup costs for the well blowout and resulting Gulf of Mexico oil spill. Reference Link
News For BP From The Last 14 Days
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September 2, 2014
09:02 EDTBPHalliburton reaches $1.1B settlement on claims related to Macondo
Halliburton (HAL) announced that it has reached an agreement to settle a substantial majority of the plaintiffsí class claims asserted against the company as a result of the April 20, 2010 Macondo well incident in the Gulf of Mexico. The approximately $1.1B settlement, which includes legal fees, is subject to approval by the United States District Court for the Eastern District of Louisiana, and will be paid into a trust until all appeals have been resolved in three installments over the next two years. The companyís previously accrued loss contingency provision relating to the multi-district litigation proceedings is currently $1.3B. The agreement includes the following: Claims against Halliburton that BP (BP) assigned to the settlement class in BPís April 2012 settlement, Punitive damages claims against Halliburton by a class of plaintiffs who allege damages to property or associated with the commercial fishing industry arising from the Deepwater Horizon Incident, and Affirmation that Halliburton has no liability for compensatory damages to the members of the settlement class in the BP April 2012 settlement. Payments will be held in the trust, pending the finalization of this settlement which is contingent on final Court approval, including any appeals of: The BP 2012 settlement with the settlement class, The District Courtís earlier determination that the contractual indemnity provided by BP to Halliburton is valid and enforceable, and The District Courtís earlier dismissal of economic damage claims against Halliburton. Additionally, the settlement is subject to an agreed-upon level of participation by the current claimants which, if not achieved, allows Halliburton to terminate the agreement.
August 29, 2014
09:37 EDTBPActive equity options trading on open
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06:38 EDTBPRising oil supplies pressuring prices, NY Times says
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August 28, 2014
09:34 EDTBPBP confirms refinery 'minimally' affected after fire, AP reports
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07:35 EDTBPBP downgraded to Underweight from Equal Weight at Morgan Stanley
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August 22, 2014
06:39 EDTBPBP drops $9.3B on fuel stations, exploration in Australia, Bloomberg says
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