Organisers of the London Olympics are celebrating 100 days to go until the start of what they have called “the Greenest Games Ever”. As the real countdown to the games begins, the main sponsors of the games will be exploiting their association with the Olympics to the maximum. Take BP – Its brand is all … Read More
Deepwater Horizon
BP’s Oil “Entered Food Chain”
At the height of the Deepwater disaster, then CEO of BP, Tony Hayward said it was only a drop in the ocean, so not to worry. BP’s scientists and cronies were quick to argue that the vast majority of the oil had been broken down and dispersed and that there was nothing to worry about. … Read More
BP Settlement “doesn’t benefit my clients”
The saying in the city is that the markets do not lie. And after Friday’s late night deal to reach a settlement with plaintiffs for a reported $7.8 billion, shares this morning in BP are topping the FTSE 100. The company’s share have risen over 2 per cent this morning with some analysts saying the … Read More
BP Trial “Close to Settlement”
So the trial of the century may not happen after all. This morning, lawyers representing over 116,000 plaintiffs had been due in court in New Orleans to begin the trial against BP and other defendants resulting from the Deepwater Horizon. The trial could have lasted two years. Documents in the case run to more than … Read More
A Culture Beyond Oil
“There is no money that is completely pure”, so says Nicholas Serota, the Director of the Tate gallery in London that is under fire once again for taking oil money from BP and Shell. Serota is right in many ways, there is no such thing as clean money but some funding is dirtier than others. … Read More
Oil Spill off Rio Sets Chevron at the Center of Scandal
Chevron is at the center of a scandal over the oil spill in the offshore Campos Basin Frade field about 230 miles from the coast of northeast Rio de Janeiro. Originally the company said that the spill was natural seepage from the field. Well, no, it appears it was not. The scandal began to unravel on … Read More
Bob Dudley: “All Mouth, No Trousers”
BP seems incapable of shrugging off the curse of the Deepwater Horizon at the moment, as the company jolts from one crisis to another. A quick flick at this morning’s headlines do not make great reading for CEO Bob Dudley, after the acrimonious collapse of BP’s $7.1 billion deal to sell a majority stake in … Read More
BP: Reprieved from Death Row
It’s been a good few days for BP. The company’s share price surged 5.1 per cent this morning after it was announced that Anadarko Petroleum will pay $4 billion to settle all claims for last year’s Gulf of Mexico oil spill. The US-based Anadarko Petroleum was a part-leaseholder of ill-fated Macondo well. As part of … Read More
Gov Report into Deepwater “Spreads Blame”
After numerous delays, and even the departure of a lead investigator, later today the US government is expected to release the report into last year’s Deepwater Horizon disaster that has been undertaken by the Coast Guard and the Agency responsible for regulating offshore drilling. According to the Wall Street Journal, the federal investigation into the … Read More
Comeback Kid Hayward Severs Final Link With BP
Finally after 29 years, Tony Hayward, the former chief executive of BP, will sever all his ties with the oil giant. Although he resigned from being Chief Executive last year in the wake of the Deepwater Horizon disaster, Hayward has remained on board of its Russian joint venture, TNK-BP. But it has announced that he … Read More