March 29, 2017

BP Posts 3rd Quarter Profit

After a 2nd quarter debt exceeding $17 billion, BP has returned from the red with a profit of $1.8 billion in the 3rd quarter, according to BP’s 3rd quarter report [.pdf] released today. However, BP has lost about $9.3 billion in the first 9 months of 2010 and is likely to finish the year in […]

Hayward Joins Russian Board

Tony Hayward has officially descended from being the CEO of BP to being a board member of BP’s Russian enterprise. Hayward is certainly not leaving empty handed, though, with an annual pension of $930,000 and a $1.6 million one-time payout. Bob Dudley has become the new BP CEO. Meanwhile, the stock value of BP has […]

Relief Well Completed

One day shy of 5 months since the explosion aboard the Deepwater Horizon oil rig, pressurized tests have confirmed the completion of the relief well for the once-spewing Macondo Well. Coast Guard point man Thad Allen announced today that the well is “effectively dead.” The interception of the well occurred at a depth of 17,977 […]

Tony Hayward Testifies in UK

Outgoing BP CEO Tony Hayward will testify before members of British Parliament today. The UK’s Energy and Climate Change Committee will question Hayward about the Gulf of Mexico oil spill as a result of BP seeking a new deepwater operation in the North Sea. Additionally, members of Parliament will ask Hayward how the oil spill […]

Transocean and Halliburton Dispute BP’s Report

Following BP’s release of an incident report that calls for Transocean and Halliburton to also be responsible for the damages of the oil spill, both Transocean and Halliburton have already disputed the report. Left and Right News has talked with spokesmen of both companies. Transocean dismissed BP’s report as “a self-serving report” that omits the […]

BP Issues Incident Report

A summary of the events that led to the blowout of the Macondo Well in the Gulf of Mexico has been released from a BP investigation team. The 193-page document [.pdf] attributes blame to “a well integrity failure, followed by a loss of hydrostatic control.” BP’s outgoing CEO Tony Hayward removed the jargon and explained, […]

Latest BP Oil Spill Facts

Following pressurized tests on August 5th that have confirmed the Macondo Well is effectively cemented from the top, the blowout preventer was successfully removed and arrived in New Orleans on Friday for a forensic investigation. Additionally, a new blowout preventer has been installed that will facilitate the relief well operations, according to the Gulf Incident […]

Judge Rules Against Drilling Moratorium

The deepwater drilling moratorium, which was issued July 12th after the first moratorium was overturned, is being challenged by Hornbeck Offshore Services. The Obama Administration filed a motion to dismiss the lawsuit, but today a Judge in the U.S. District Court of Louisiana refused to grant the dismissal, reports JURIST. The ruling [.pdf] cites how […]