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 […]
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 […]
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 […]
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 […]
The relief well for the BP oil spill is still not complete and is about a week away, according to the incoming BP CEO Bob Dudley who spoke today at the Democratic Governors Association Annual Meeting. BP said on August 4th that the relief well would be complete mid-August, but this still has not become […]
The picture below is a snapshot from BP’s website in which it says that $399 million was distributed to Gulf Coast claimants, yet a chart that BP provides with details as to how the money was distributed doesn’t add to $399 million, but only to $370 million.
The $20 billion escrow fund setup for Gulf Coast residents will begin accepting claims from August 19th to August 22nd and will be fully operational August 23rd. The current claims system, which has distributed $368 million since May, will quit accepting new claims tomorrow. Kenneth Feinberg leads the new Gulf Coast Claims Facility.
Today BP announced it will give $52 million to help support state and federal mental health agencies across the Gulf Coast. The chart below shows the amount that each agency received – Louisiana tops the chart at $15 million. Between June 25th and July 1st, Oschner Health Group, a non-profit health provider, conducted a survey […]