Oil spill: BP nears deal to continue drilling in Gulf of Mexico
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Aug 11, 2010, 4:05:29 PM8/11/10
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Oil spill: BP nears deal to continue drilling in Gulf of Mexico
Published on 08-11-2010
Source: Telegraph
The deal with the White House would allow BP to guarantee its $20bn (£13bn) clean-up fund against revenues from its operations in the Gulf, which account for approximately 10pc of its oil and gas business.
If the deal were to be agreed – it remains one of a number of solutions being discussed – it would all but guarantee BP’s future in the Gulf, despite efforts by certain members of the US Congress to force the company away from US shores.
The negotiations – led on BP’s behalf by incoming chief executive Bob Dudley – continued as BP’s attempt fully to seal the Macondo well were hampered by bad weather, delaying drilling of the relief well by two to three days.
The talks also came as it emerged that BP renewed its insurance policy to cover its directors just ahead of the explosion on the rig above the Macondo well on April 20.
Shares in BP continue to fluctuate despite the company’s efforts to move on from the spill. They closed down 8.02 at 424.73p in London.
Although the White House talks are far from complete, it appears that BP is likely to place some of the revenues from its Gulf operations as collateral for the $20bn compensation fund.
http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7937882/Oil-spill-BP-nears-deal-to-continue-drilling-in-Gulf-of-Mexico.html
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Published on 08-11-2010
Source: Telegraph
The deal with the White House would allow BP to guarantee its $20bn (£13bn) clean-up fund against revenues from its operations in the Gulf, which account for approximately 10pc of its oil and gas business.
If the deal were to be agreed – it remains one of a number of solutions being discussed – it would all but guarantee BP’s future in the Gulf, despite efforts by certain members of the US Congress to force the company away from US shores.
The negotiations – led on BP’s behalf by incoming chief executive Bob Dudley – continued as BP’s attempt fully to seal the Macondo well were hampered by bad weather, delaying drilling of the relief well by two to three days.
The talks also came as it emerged that BP renewed its insurance policy to cover its directors just ahead of the explosion on the rig above the Macondo well on April 20.
Shares in BP continue to fluctuate despite the company’s efforts to move on from the spill. They closed down 8.02 at 424.73p in London.
Although the White House talks are far from complete, it appears that BP is likely to place some of the revenues from its Gulf operations as collateral for the $20bn compensation fund.
http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7937882/Oil-spill-BP-nears-deal-to-continue-drilling-in-Gulf-of-Mexico.html
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www.heavensoon.com
www.rapturetoheaven.com
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