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#BP

# bp - Tuesday 11 October, 2016

BP boss "a little saddened" by movie about Deepwater Horizon disaster

The explosive Hollywood movie looked at the disaster which killed 11 men in 2010.

# bp - Friday 20 February, 2015

BP is still fighting penalties over the worst oil spill in US history

The company could be fined up to $13.7 billion for the 2010 Deepwater Horizon disaster.

# bp - Thursday 15 January, 2015

Cheap oil is wreaking havoc with the best-laid plans of all these companies

Everyone’s re-setting the dial as commodity prices go through the floor.

# bp - Sunday 20 January, 2013

Algeria: Details sought on missing hostages as Britain confirms deaths

British prime minister David Cameron has confirmed that three Britons are dead and another three are presumed dead as other governments scramble for information on their citizens.

# bp - Thursday 17 January, 2013

Cameron warns of ‘bad news ahead’ as he cancels EU speech over Algeria crisis

The cancellation comes as the hostage crisis in Algeria continues.

# bp - Wednesday 16 January, 2013

The Evening Fix… now with added ice hockey humiliation

Here are the things we learned, loved and shared today.

Irish citizen among oil-workers kidnapped from BP plant in Algeria

The Tánaiste Eamon Gilmore has called for the immediate release of an Irish citizen reportedly among those kidnapped from a BP oil field in the south of Algeria.

# bp - Thursday 3 January, 2013

Transocean fined $1.4 billion over Deepwater Horizon

The Swiss-based company will pay a mix of criminal penalties and civil fines after settling with the US Government.

# bp - Thursday 15 November, 2012

BP agrees €3.52 billion settlement over Gulf of Mexico oil spill

The settlement includes about €1 billion in criminal fines – the biggest criminal penalty in US history.

# bp - Monday 22 October, 2012

BP confirms advanced talks with Russia's state controlled oil company Oil

BP confirms advanced talks with Russia's state controlled oil company

The new $30 billion deal would put an end to recent disputes between BP and its partners

# bp - Wednesday 25 April, 2012

Former BP worker arrested for allegedly deleting iPhone evidence

Engineer who worked on the Deepwater Horizon disaster has been accused of deleting messages relating to

The 9 at 9: Wednesday

Good morning! Here’s nine things to know before 9am.

# bp - Saturday 3 March, 2012

BP agrees $7.8bn compensation for Gulf of Mexico oil spill Deepwater Horizon This post contains videos

BP agrees $7.8bn compensation for Gulf of Mexico oil spill

The company will make settlements with more than 100,000 people hit by the 2010 Deepwater Horizon disaster.

# bp - Tuesday 7 February, 2012

BP reports gains despite payments after Gulf spill BP

BP reports gains despite payments after Gulf spill

The company reports that it has raised its quarterly dividend by 14 per cent, even after making payments to compensate for the disastrous oil spill in the Gulf of Mexico.

# bp - Tuesday 31 January, 2012

From The Daily Edge What brands register with a five-year-old? Work Can Wait

What brands register with a five-year-old?

Jaguar, Puma and Greyhound lose out and unsurprisingly Disney and McDonald’s are in.

# bp - Saturday 31 December, 2011

Drilling thrives 18 months after BP oil spill Oil

Drilling thrives 18 months after BP oil spill

The first new drilling began in the region in March of this year – and is thriving even after the disastrous BP oil spill.

# bp - Tuesday 25 October, 2011

BP sees huge Q3 profits, announces 'turning point' BP

BP sees huge Q3 profits, announces 'turning point'

The oil giant’s chief executive has said Q3 results mark a turnaround from the disastrous Gulf of Mexico oil spill.

# bp - Monday 17 October, 2011

$4 billion paid to BP over Gulf of Mexico oil spill

Anadarko Petroleum Co has agreed to pay $4 billion to BP PLC as part of a settlement related to last year’s Gulf of Mexico oil spill.

# bp - Wednesday 31 August, 2011

BP's Moscow office searched by bailiffs in shareholder's lawsuit

A minority shareholder in BP says the company allowed an Arctic exploration to fall through – and has sent the bailiffs in.

# bp - Saturday 27 August, 2011

BP accidentally shoots polar bear then watches it die in Alaska BP

BP accidentally shoots polar bear then watches it die in Alaska

It’s a setback for the oil company attempting to rebuild its reputation after the disastrous Gulf of Mexico oil spill.

# bp - Thursday 14 April, 2011

BP faces protests at shareholder meeting BP

BP faces protests at shareholder meeting

BP will face protests at a shareholder meeting in London today, as fishermen complain of poor compensation for the oil spill and investors condemn excessive executive pay packets.

# bp - Monday 21 February, 2011

Oil price jumps on back of Libyan protests Oil

Oil price jumps on back of Libyan protests

Unrest and protests in Libya are forcing oil prices to rise today as international oil companies prepare to evacuate their expat staff from Libyan operations.

# bp - Monday 7 February, 2011

UK govt did 'all it could' to release Lockerbie bomber: report

Britain’s previous Labour government did “all it could” to help facilitate the release of Lockerbie bomber Abdelbaset Ali al-Megrahi, according to a new report.

# bp - Saturday 15 January, 2011

From Business ETC BP sign deal with Russia to drill in the Arctic Fossil Fuels

BP sign deal with Russia to drill in the Arctic

BP has teamed up with Russian state-owned oil company Rosneft to explore for natural gas and oil off the Siberian coast.

# bp - Friday 7 January, 2011

Better management would “almost certainly” have stopped BP oil spill

The US presidential commission investigating the BP oil spill finds that lax controls and cost-cutting were the chief culprits.

# bp - Thursday 6 January, 2011

BP Gulf oil spill blamed on bad management

US National Commission investigating April’s Deepwater Horizon rig explosion heavily criticises the companies involved in the rig.

# bp - Friday 29 October, 2010

BP knew cement used on Deepwater Horizon well was faulty USA

BP knew cement used on Deepwater Horizon well was faulty

Investigators say BP and the company which produced supplied the cement knew that the compound was unstable and could be vulnerable before the rig blew up.

# bp - Monday 20 September, 2010

Gulf oil spill well declared 'dead' by BP

Oil giant sees share price rise after announcement.

# bp - Saturday 18 September, 2010

BP leak ready to be sealed permanently

After five months, the leak into the Gulf of Mexico could at last stop today.

# bp - Monday 30 August, 2010

Obama laments “man-made catastrophe” of Hurricane Katrina Hurricane Katrina

Obama laments “man-made catastrophe” of Hurricane Katrina

President tells New Orleans that the legacy of Katrina must be one “of action” but stops short of admonishing BP.

# bp - Monday 23 August, 2010

BP’S EXECUTIVES will be happy that Brad Pitt doesn’t seem to plan on running for office any time soon: he wants to kill them.

Being interviewed for a new Spike Lee documentary about the effects of Hurricane Katrina on New Orleans, If God Is Willing and Da Creek Don’t Rise, Pitt said he had never supported capital punishment previously but was willing to make an exception for BP.

In a quote relayed by USA Today reviewing the film, Pitt said:

I was never for the death penalty before. I am willing to look at it again.

Pitt, along with partner Angelina Jolie, is the founder of the Make It Right organisation that has rebuilt homes in Louisiana after the devastation of the hurricane in 2005.

Lee’s film is the follow-up to his acclaimed 2006 work, When the Levees Broke: A Requiem in Four Acts.

# bp - Friday 13 August, 2010

BP HAS AGREED to pay a record $50.6m (€39.3m) fine for failing to impose the correct safety standards at a plant in Texas where 15 people were killed after an explosion in 2005.

The United States’ Occupational Safety and Health Administration (OSHA) said the penalty “rightly reflects BP’s disregard for workplace safety” and hopes to collect another $30m (€23.3m) in fines from BP relating to the incident.

The fine is the largest ever given out by the United States to an employer for violation of safety practices, and follows a similar fine of $21.5m levied for the same incident in 2005.

The fines are dwarfed, however, by the $500m BP has agreed to spend on fixing safety problems at the refinery, and the $373m it paid in 2007 to settle criminal and civil charges in respect of the explosion.

All of the above, however, will be massively superseded by the fines that the company will face as a result of the Deepwater Horizon oil spill in the Gulf of Mexico this year.

Its fines for that spill will range from a minimum of $1,100 (€836) to a maximum $4,300 (€3,269) per barrel spilled, depending on the level of negligence shown by BP – meaning the company could be fined as much as $21 billion as a result.

The American government has agreed, meanwhile, to accept BP’s revenues as collateral for its contributions to the fines, having originally demanded been reluctant to do so in case it ended up having to repossess the oil well that had caused such ecological damage.

BP will also likely face massive fines after it was found that warning alarms on the Deepwater Horizon rig, which exploded killing 11 people and triggering the Gulf spill, had been turned off so as to allow employees sleep through the night.

# bp - Wednesday 4 August, 2010

BP SAYS ITS much-ancitipated ‘static kill’ operation intended to seal the leak at the Gulf of Mexico oil well has been successful – meaning it can now press ahead with pouring cement on the leak and sealing it for good.

The procedure saw engineers pour huge quantities of thick, heavy mud onto the site of the leak of the underground Maconda well, which sprang after an explosion on board the Deepwater Horizon oil rig on April 20.

The mud has now reached a “static condition”, with the oil pressure being controlled exactly as engineers had hoped. BP has called the news a “significant milestone“.

While the flow of oil into the Gulf of Mexico itself had been stopped for two weeks after BP fitted a containment cap – manufactured by Cameron International in Longford – to the leak, the new procedure has halted oil flow from the well entirely.

In a statement, BP said that the construction of a relief well was the ultimate final course of action, and construction of the first well – which began in May – is scheduled for completion within two weeks.

Once the relief wells have been completed, engineers will simply need to pour cement over the site of the explosion to seal the damage for good.

In a separate development, a new US government survey has determined that only 26% of the oil released from the spill is still present in a thick-enough slick to cause any problems.

Most of the oil seeped by the well, it said, is either present merely in a light coat on the ocean’s surface or in smaller chunks below the surface. In both cases, oil collections are being rapidly broken down.

# bp - Wednesday 28 July, 2010

A US INQUIRY into the early release of the Lockerbie bomber has been postponed due to a lack of key witnesses. The US Senate’s Foreign Relations Committee announced the delay today, saying that several individuals who were asked to testify declined to appear.

Abdelbaset Ali Mohamed al Megrahi, 58, is the only person convicted of the 1988 bombing which killed 270 people. Most of the victims of the Lockerbie bombing were American.

He was released last summer by Scottish authorities after doctors said he would die within three months, but is still alive. Al Megrahi suffers from terminal prostate cancer.

BP’s Tony Hayward was one of those invited to the hearing.

Others who declined to appear include the Scottish Justice Secretary Kenny MacAskill, former British Justice Secretary Jack Straw, and Andrew Fraser, the physician who gave the prognosis which led to al Megrahi’s release.

The investigation intends to establish whether a BP oil deal with al Megrahi’s native Libya had any influence on the bomber’s early release. Last week, Scotland’s first minister Alex Salmond said the Scottish government “did not receive any representations from BP in relation to Mr Al-Megrahi.”

Scotland has set up this site to publish information regarding al Megrahi’s release.

# bp - Tuesday 27 July, 2010

BP CONFIRMED TODAY that CEO Tony Hayward will step down from his post in October. He will receive a compensation package worth over $13.5 million – but he still won’t be out of a job.

Hayward, 58, is reported to be taking up a non-executive role in BP’s Russian subisdiary, and paid  a year’s salary worth around €1 million, in lieu of the one year’s notice he is entitled too. The company said the decision was made mutually.

He will also get an immediate annual pension of about €716,000 when he leaves the CEO position. The full pension pot is valued over €13 million, according to the BBC.

Hayward has been heavily criticised by US politicans and residents along the Gulf coast for his handling of the leak in the weeks after the April spill. He was accused of ‘stonewalling‘ the US Congress when questioned about the leak and subsequent clean-up.

Bob Dudley, who will take over from Hayward, faces the unenviable task of overseeing the clean-up operation, and improving the company’s public image.

Today, the company posted a loss of $17 billion (€13 billion) – a record quarterly loss for the company. The company has reported profits of $4.39 billion (€3.38) for Q2 last year. BP also set aside $32.2 billion to cover costs arising from the oil spill, and will sell $30 billion in assets over the next 18 months to boost its finances.

Greenpeace activists in London succeeded in closing almost 50 BP petrol stations in a move timed to coincide with the company’s quarterly report. The day-long action is in protest against BP’s reaction to the oil spill, which Greenpeace says hasn’t gone far enough.

# bp - Monday 26 July, 2010

TONY HAYWARD is today expected to finalise the terms of his departure from BP’s top job – and can expect a golden handshake of £500,000 on top of his £10.8m (€12.9m) pension pot.

The 53-year-old CEO – who has been with BP for 28 years – has built up a massive pension fund which he can start drawing when he turns 60, but will be able to make do with the year’s salary he is entitled to, which also nets him over £1m (€1.19m).

He is also expected to be offered a golden handshake of £578,000 (€691,000).

Hayward’s position has been seen as increasingly untenable since an ill-fated comment after the Gulf of Mexico oil spill – which began after an explosion killed 11 of his staff – in which he declared: “I want my life back.”

President Barack Obama expedited Hayward’s departure by responding: “He wouldn’t be working for me after any of those statements.”

In a measure of BP’s need to reform its public image in the wake of the oil spill, it’s expected that Hayward will be succeeded by Bob Dudley, who – aside from being an American – has been charged with leading the Gulf clean-up operation.

Dudley, the current managing director, has previously been described by Hayward as the BP “management team’s foreign secretary”.

News of Hayward’s expected departure saw BP shares jump by over 7% in London – adding over £2bn to the company’s net worth.

# bp - Saturday 24 July, 2010

The Irish Times leads with the announcement that the two Irish banks tested by the EU passed their stress tests, but says that questions have been asked about the rigour of their tests given the fact that just seven institutions (out of 91) failed.

It also carries news of how Richard Bruton told the MacGill Summer School that Fine Gael would replace every single member of every State board within six months of taking office, should they win the next general election.

Inside, it reveals that Lucinda Creighton held a fundraising event in April that was attended by a heavily indebted property developer – and that she was unaware that he had been hauled before the Commercial Court just a month before.

The Times’ magazine recounts the experiences of an Irish graduate, Sarah Geraghty, who moved to Washington for nine months to kick-start her career.

The Irish Independent leads with a declaration of how a series of forthcoming mortgage interest rate hikes will send homeowners “right over the edge” and break their finances beyond repair, according to mortgage experts.

Inside, it reports that a Galway resident was sentences to five years in prison after being found guilty of attacking his wife’s toes with a Stanley knife, as well as biting her noes and slashing her face in a subsequent attack.

The Weekend Review magazine profiles RTÉ broadcaster Miriam O’Callaghan and how she sustains “a loving husband, the happy family, and a media career that has broken the mould” at the age of 50.

The Irish Examiner leads with calls for a national debate on knife crime from victims’ support groups, after 20-year-old James Joyce was stabbed to death in front of his pregnant girlfriend.

It also reports on criticisms from residents across the country at government plans to introduce tolls on national roads, with reports coming from Age Action Ireland, the AA and from Fianna Fáil backbenchers.

The Star leads with a similar tack to the Examiner, revealing that Joyce told his friends “I’m alive” seconds before he was fatally stabbed on Thursday night.

Inside, it disappoints readers by claiming it could not coax Paul the Octopus to predict the winners of the Galway Races.

On its back page it carries a warning to Juventus from two-time former coach and current Ireland manager Giovanni Trapattoni, saying that Shamrock Rovers have the potential to cause them serious problems in their Europa League clash.

Abroad, The Guardian leads with the political return of Gordon Brown, who in his first major appearance since the formation of the Conservative-Liberal Democrat coalition, called for ‘smart aid’ for Africa.

Haaretz of Israel reports that the country has warned the UN that North Korea’s plans to develop ballistic missiles could scupper plans for peace in the Middle East.

And in France, Le Figaro reports that the Deepwater Horizon explosion that caused the BP oil leak in the Gulf of Mexico could have been avoided, because safety alarms on the platform had been turned off to let employees sleep.

# bp - Friday 23 July, 2010

1. BP’s CEO said he wanted his life back – after 11 people died on the rig

BP’s CEO Tony Hayward apologised for the “disruption” the oil spill had caused to the lives of people living along the Gulf coast. Then he explained that he wanted the whole thing over because, he said, “I’d like my life back.”


2. And then he went on holidays

Tony Hayward enjoyed some nice oil-free waters when taking part in a yacht race off the coast of southern England last month. A BP spokesperson said he was taking a break from overseeing BP’s efforts to stem the leak, before the leak was actually stemmed.

3. It got creative with photos of its clean-up efforts

BP released edited photos which seemed to show the hectic efforts being made in BP HQ to plug the leak. Turns out three of the screens in the crisis command centre were not actually running any video feeds at the time.

4. It turned the alarms off just before the accident

The alarm system on the Deepwater Horizon was partially shut down on the day the rig exploded, according to an electronics technician who worked on the rig. Speaking to an investigative panel in the US, the technician said that the company didn’t want a false alarm waking people up at night.

5. It got caught up in the Lockerbie bombing.

BP has been trying to dissociate itself from any suggestions that it influenced Scotland’s decision to release the Lockerbie bomber. The company admitted to lobbying the UK government over a Libya prisoner transfer deal, but said it did not specifically push for al-Megrahi’s release.

# bp - Thursday 22 July, 2010

THE SCOTTISH EXECUTIVE Alex Salmond has said that his administration released Abdelbaset Ali Mohmed al Megrahi on compassionate grounds last year.

Salmon reportedly wrote a strongly worded letter to US senator John Kerry, denying that BP had anything to do with Scotland’s decision.

He expressed his “revulsion” at al-Megrahi’s actions, which resulted in the deaths of 270 people, but stressed compassion.

Salmon wrote:

“I can say unequivocally that the Scottish Government has never, at any point, received any representations from BP in relation to al Megrahi.

That is to say we had no submissions or lobbying of any kind from BP, either oral or written, and, to my knowledge, the subject of al Megrahi was never raised by any BP representative to any Scottish Government minister. That includes the Justice Minister, to whom it fell to make the decisions on prisoner transfer and compassionate release on a quasi-judicial basis.”

Scotland has released 39 prisoners on the basis of an application for compassionate release, which was introduced in 1993.

Medical tests received by the Scottish authorities last year indicated that al-Megrahi, who is suffering from terminal cancer, would die within three months.

# bp - Wednesday 21 July, 2010

HOT ON THE HEELS of the Deepwater Horizon oil spill and allegations of striking a deal to free a convicted mass murderer, BP has managed to execute yet another spectacular PR blunder.

Amidst global conern about the millions of gallons of oil pumping in to the Gulf of Mexico, BP established a “Response in Pictures” page on its website, to prove to the public just how hard it’s been working to solve the problem.

Unfortunately for BP, its marketing department is about as good at Photoshop as its engineers are at plugging underwater oil wells.

On closer inspection of the photographs purportedly featuring the hectic efforts in BP HQ to plug the leak, a US blog picked up on the tell-tale signs of an amateur graphics editor at work.

When confronted by the Washington Post, BP issued a statement, explaining that the photographer working for the company had “pasted three ROV screen images in the original photo over three screens that were not running video feeds at the time.”

The statement didn’t elaborate on the reasons why three screens in the crisis command centre – that were supposed to be monitoring the largest oils spill in US history – were blank.

BP has since replaced the altered photo with the original.

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