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BP Continues Restructuring With $7 billion Sale of Pan American Stake

by | Nov 28, 2010 | Towing

BP (BP) continues to sell assets in order to cover costs related to the Deepwater Horizon disaster. It is now selling its 60% stake in Pan American Energy in South America. This gives its joint venture partner Bridas Group control of the company.

BP …

Did the Obama Administration Misstate Scientists’ Views on Oil Drilling?

by | Nov 10, 2010 | Towing

The U.S. Interior Department has accused the White House of misrepresenting scientists’ views to imply they were in favor of an oil-drilling ban. In actuality, the scientists hadn’t been asked for their opinions on whether the …

Gulf Oil-Spill Investigator Disputes Claims That BP, Halliburton Chose Money Over Safety

by | Nov 8, 2010 | Towing

The lead investigator for the presidential panel’s investigation of April’s Deepwater Horizon oil-spill disaster that killed 11 workers refuted previous reports that the rig’s majority owner BP Plc and contractor Halliburton Co…

Oil Service and Freight Firms to Pay $236.5 Million Bribery Settlement

by | Nov 4, 2010 | Towing

Seven companies involved in the oil and gas industries will pay the U.S. government a total of $236.5 million to settle corruption charges. An investigation by the SEC and the Justice Department alleges that the companies bribe…

Feds: Halliburton Had Prior Knowledge of Unstable BP Well Cement

by | Oct 28, 2010 | Towing

A federal commission investigating the BP Deepwater Horizon oil spill disaster, issued a scathing report today, saying BP and its cement contractor Halliburton knew that test results for the cement to be used as a plug for the…

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