Latest Oil Gas Headlines
All the headlines from our Oil Gas Topic Page, ordered by recency.
Documents Reveal BP Cut Safety on Oil Rig to Save Money, Time
Jun 16 2010 // President Barack Obama promised that life would return to normal for people living on the stricken Gulf Coast, and BP said new efforts will more than triple the amount of oil it captures from a ruptured undersea well. But...
Obama Demands BP Set Up Independent Account for Oil Claims
Jun 16 2010 // President Barack Obama, seeking to demonstrate strong leadership on the Gulf of Mexico oil spill, will demand today that BP set aside billions of dollars to pay damages from the catastrophe. A day after he vowed to fight...
Obama Seeks BP Escrow Account to Cover Oil Claims
Jun 14 2010 // President Barack Obama will press BP executives this week to set up an escrow account to pay damage claims by individuals and businesses hurt by the Gulf of Mexico oil spill disaster. The move comes as Obama, who will...
BP Oil Spill Claims Hit $1.6 Billion
Jun 14 2010 // BP said the oil spill in the Gulf of Mexico had already cost it $1.6 billion and that it would begin operating an additional mechanism to capture more crude from the leaking well in the coming days. London-based BP said in...
Bill Would Lift North Carolina’s Oil Spill Liability Cap
Jun 14 2010 // North Carolina’s current cap for monetary damages it could receive from oil spills would be eliminated in legislation approved last week by a House committee in response to the BP disaster in the Gulf of...
Possibility of BP Bankruptcy Due to Oil Claims Seen Remote For Now
Jun 11 2010 // The chances of BP declaring bankruptcy to deal with oil-spill claims are remote for now, bankruptcy professionals said, although that option would be open to the company if liabilities became overwhelming — and that...
Mississippi, Florida AGs Putting Pressure on BP
Jun 11 2010 // Attorneys general in Florida and Mississippi are upping the political pressure on BP over the oil gusher that is threatening their states and the entire Gulf Coast. Florida Attorney General McCollum sent a letter to BP...
BP’s U.S. Shares Plunge on Oil Spill Liability Fears
Jun 10 2010 // BP Plc shares tumbled nearly 16 percent on U.S. exchanges to a 14-year low Wednesday on rising fears about how the wounded company will cope with the massive costs of the Gulf of Mexico oil disaster. The stock has now lost...
Senator Eyes Prison, Compensation for Environmental Crimes
Jun 10 2010 // Reacting to BP’s Gulf of Mexico oil spill, a high-ranking U.S. senator Wednesday sought to toughen prison sentences for corporate officials who are found guilty of environmental crimes and to broaden fines for...
Louisiana Health Officials Record 71 Spill-Related Medical Complaints
Jun 10 2010 // Twenty-nine workers hired for oil spill recovery tasks have complained along with 42 others of diverse ailments including nausea, vomiting and flu-like symptoms since May 2, state health officials reported. Several of...
Florida Lawmaker: Lower Gulf Coast Property Assessments, Make BP Pay
Jun 10 2010 // Property appraisers from three Panhandle counties and a state representative say the Legislature should allow tax appraisers to lower coastal property values immediately because of the oil spill. Appraisers from Escambia,...
Faber & Dumas (Willis) Global Special Risks Unit Opens Calgary Office
Jun 9 2010 // Global Special Risks (GSR), the wholesale insurance broker and managing general agent of Willis’ subsidiary, London-based Faber & Dumas, announced it has established an office in Calgary, Alberta, Canada to...
Insurance Expert to Testify at Hearing on Oil Spill Liability Today
Jun 9 2010 // Dr. Robert Hartwig, an economist and president of the Insurance Information Institute, will testify today at a hearing before the Committee on Transportation and Infrastructure, U.S. House of Representatives, in...
FEMA: Insurance Applies if Oil from Spill Mixes with Flood Waters
Jun 9 2010 // The Federal Emergency Management Agency has clarified that in the event of a declared flooding disaster, National Flood Insurance Program coverage will apply even if oil from the British Petroleum deep well blowout in the...
‘Green Energy Systems’ Now ‘Essential’ Says Lloyd’s
Jun 8 2010 // “Green energy systems are no longer just ‘nice to have,’ but are essential in securing our energy supply and protecting the environment,” according to a new report from Lloyd’s 360 Risk...
Louisiana to OSHA: Investigate Oil Spill Cleanup Safety
Jun 7 2010 // Louisiana health and environmental officials are asking federal safety officials to make sure workers cleaning up the Gulf of Mexico oil spill are being protected. Health and Hospitals Secretary Alan Levine and...
Florida Senator: Obama Not Doing Enough for State
Jun 7 2010 // U.S. Sen. George LeMieux criticized President Barack Obama’s handling of the Gulf oil spill Saturday, saying he hasn’t done enough to help Florida and the other affected states or their residents. Obama visited...
Rating Agencies React to BP’s Oil Spill; Best Revises Jupiter Outlook
Jun 4 2010 // The mounting financial costs for British Petroleum from the multiple impacts of the oil spill in the Gulf of Mexico have placed its formerly strong ratings in peril. Financial rating agencies Fitch and Moody’s have...
BP Lowers Containment Cap onto Wellhead But Uncertainty Remains
Jun 4 2010 // BP Plc managed Thursday to lower a containment cap onto its ruptured deep-sea wellhead in the Gulf of Mexico in a high-stakes bid to siphon off some of the oil billowing from its gusher. U.S. President Barack Obama...
Oil Reaches Alabama’s Dauphin Island; Florida Panhandle on Alert
Jun 4 2010 // Teams of workers in protective boots and gloves scoured Alabama’s Dauphin Island Wednesday for washed up tar balls and tar patties that have put the 14-mile-long resort in the front line of the state’s fight...
