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BP gears up for Gulf spill case
BP AND its Gulf of Mexico Macondo well partners and contractors face tens of billions of dollars of possible damages and liabilities from the oil spill, in a major legal battle due to kick off in New Orleans on 27 February.
The UK oil major has said it is keen to settle the claims ahead of the start of hearings. This could prevent some of the dirty laundry associated with the spill from being aired in a courtroom as well as spare BP and its partners lengthy and costly litigation.
But a settlement is complicated. BP faces action from the US government, individuals and businesses and is suing its contractors to make them contribute to the clean-up cost. It also believes its partners in the well, Anadarko Petroleum and Japan’s Mitsui, should share the burden of any fines.
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Thursday 24 May 2012
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