In a monumental decision, British Petroleum (BP) was fined $20.8 billion for the 2010 oil spill in the Gulf of Mexico; this upgrades the initial deal from the $18.7 that were previously discussed and represents the largest corporate settlement in US history. This money is additional to the reported $28 billion spent on cleanup and compensation.
Five years after the British Petroleum catastrophe in the Gulf of Mexico, Mexican fishermen have still not received any compensation, so they’ve decided to sue the oil giant.
A federal judge decided this week that British Petroleum will pay a maximum of $13.7 billion for its 2010 Gulf of Mexico oil spill, saying that the oil spill was not as extensive as United States officials claimed. The sum is several billions lower than all parties involved were expecting – except for BP, of course.
Well despite what you may think, the oil industry is doing better than ever. With a length of 468 meters, this giant will be exploiting the Prelude gas field, about 500 km away from Australia, relying on a Floating Liquefied Natural Gas (FLNG) plant. However, the vessel will be too far away from land to be connected to a pipeline,
I’m gonna call ‘no comment’ on this one. Full pic here.
I had every bit of admiration for BP when they announced they were going towards some greener alternative, although this meant cutting back on some profits. Under the leadership of former CEO Lord Browne, British Petroleum had made steps to move its business model beyond only petroleum and into newer and greener energy sources. But the oil price is at