Oil giant BP posts largest annual loss for 20 years

Oil giant BP posts largest annual loss for 20 years

BP posted its largest annual loss for at least 20 years and revealed another 3,000 job losses as it continued to count the cost of plunging oil prices.

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BP announces $4.2bn loss as oil prices continue to fall

BP announces $4.2bn loss as oil prices continue to fall

Oil giant BP swung to a US$4.2bn loss in the first six months of the year after taking another €9.8bn hit from its Deepwater Horizon disaster and oil prices continued to plunge.

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BP oil-spill trial to resume

BP oil-spill trial to resume

The trial for the federal litigation spawned by BP’s massive 2010 oil spill in the Gulf of Mexico resumes today, with a focus on the company’s response to the deadly disaster.

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BP upbeat after profits rise

BP upbeat after profits rise

Oil giant BP sparked a big jump in its share price today after quarterly profits of $4.2bn (€3.2bn) smashed City expectations.

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BP unveils £5.3bn buyback plan

BP unveils £5.3bn buyback plan

BP set aside £5.3bn (€6.2bn) for shareholders today as part of an immediate return from the reshaping of the oil giant’s Russian business.

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BP bids to block gulf spill payments

BP bids to block gulf spill payments

BP has sued to block what could be billions of dollars in settlement payouts to businesses over the deadly Gulf of Mexico oil spill.

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BP partner agrees $1.4bn Deepwater payout

BP partner agrees $1.4bn Deepwater payout

The company which leased the Deepwater Horizon rig to oil giant BP has been fined $1.4bn (€1.06bn) after admitting its role in the Gulf of Mexico disaster.

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New setback for BP in Deepwater Horizon case

New setback for BP in Deepwater Horizon case

BP’s hopes of reaching a settlement over the Deepwater Horizon catastrophe were dealt a blow today after it emerged that the US Government intends to prove gross negligence or wilful misconduct at trial.

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US government panel hits out at BP oil rig safety assessments

US government panel hits out at BP oil rig safety assessments

BP focused too much on the little details of personal worker safety instead of the big systemic hazards that led to the 2010 Gulf of Mexico oil spill, a US government safety panel has concluded.

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BP sees profits dip to $4.8bn

Oil giant BP revealed a dip in profits today as its commitment to sell off billions of pounds of assets in the wake of the Gulf of Mexico disaster hit production.

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Ex-BP engineer charged with destroying Deepwater evidence

Ex-BP engineer charged with destroying Deepwater evidence

An ex-BP engineer has been charged with destroying evidence tied to the 2010 Deepwater Horizon disaster in the Gulf of Mexico.

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US charges worker over BP rig disaster

US charges worker over BP rig disaster

The first criminal charges in the Deepwater Horizon disaster have been filed against a former BP engineer who allegedly destroyed evidence.

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BP to settle Gulf oil spill claims

BP has agreed to settle claims from thousands of fishermen who lost work and others who said they were harmed by the oil giant’s 2010 Gulf of Mexico disaster, the worst offshore oil spill in US history.

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Gulf rig disaster case is delayed

Gulf rig disaster case is delayed

The US court case over the Gulf of Mexico oil disaster has been delayed for a week after a judge heard that BP was making some progress in settlement talks.

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Contract with BP 'shielded Halliburton'

Contract with BP 'shielded Halliburton'

A US judge has ruled that Halliburton can avoid paying most of the pollution claims that resulted from the catastrophic Gulf of Mexico oil spill because it was shielded in a contract with well owner BP.

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BP emails reveal oil spill concerns

BP emails reveal oil spill concerns

An internal BP email conversation revealed today that officials were warning that if the Deepwater Horizon well was not protected by the blow-out preventer at the drill site, crude oil could burst into the Gulf of Mexico at a rate of 3.4 million gallons a day.

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Halliburton 'destroyed evidence of BP oil spill'

Halliburton 'destroyed evidence of BP oil spill'

BP is accusing Halliburton of destroying damaging evidence about the quality of its cement that went into the Deepwater Horizon well that exploded, killing 11 people and causing America’s worst offshore oil spill.

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BP sell-off deal falls through

BP sell-off deal falls through

BP’s pledge to sell off billions of dollars of assets to cover compensation for the Gulf of Mexico oil disaster was dealt a blow today after a major deal in Argentina was scrapped.

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Gulf rig disaster report blames BP

Gulf rig disaster report blames BP

A key US report has laid much of the blame on BP for the massive Gulf of Mexico rig disaster.

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BP faces new Gulf spill controversy

A BP scientist identified a previously unreported deposit of flammable gas that could have played a role in the Gulf of Mexico oil spill, it has emerged.

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BP oil spill claims thrown out

A US judge has thrown out racketeering claims by the lead plaintiffs suing BP over last year’s oil spill.

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Disaster rig owners blame BP

Disaster rig owners blame BP

The owner of the rig that exploded in the Gulf of Mexico last year has largely blamed oil giant BP for the disaster.

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Victims of Gulf oil disaster remembered

Victims of Gulf oil disaster remembered

Relatives flew over Gulf of Mexico waters where 11 oil rig workers died a year ago, residents gathered in prayer vigils onshore and President Barack Obama vowed to hold BP and others accountable for “the painful losses that they’ve caused”.

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Flyover to mark oil rig disaster

Flyover to mark oil rig disaster

Relatives of the 11 men who died aboard the Deepwater Horizon oil rig are flying over the Gulf of Mexico today, back to the epicentre of the worst offshore oil spill in the nation’s history.

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BP facing calls for sell-off

Oil giant BP is facing calls from some of its biggest shareholders to sell off up to half of its assets as part of a radical restructuring of the group, it was reported today.

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Protesters removed from BP AGM

Protesters removed from BP AGM

A number of protesters were ejected from BP’s Annual General Meeting today after attempting to storm the stage.

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Gulf of Mexico oil spill: Drill contractor donates bonuses

Gulf of Mexico oil spill: Drill contractor donates bonuses

Executives at the offshore drilling contractor at the centre of last year’s Gulf of Mexico oil spill are donating bonuses they got for the company’s safety record last year.

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BP shares fall amid charges report

BP shares came under pressure today as it was reported that staff at the beleaguered oil giant could face manslaughter charges over the Gulf of Mexico oil spill.

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Safety valve failure at heart of BP oil spill, study finds

Safety valve failure at heart of BP oil spill, study finds

A trapped piece of drill pipe prevented a fail-safe device from stopping last year's massive BP Gulf oil spill, a US government investigation has found.

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No bonus for BP boss

No bonus for BP boss

BP has not paid its chief executive a bonus in the wake of the Gulf of Mexico oil spill, its annual report revealed today, but two senior directors will receive combined payouts worth nearly £700,000 (€817,117) on top of their regular salaries.

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BP drilling boss 'quit over safety' before spill

BP drilling boss 'quit over safety' before spill

A former BP drilling operations chief resigned just months before last year's Gulf of Mexico oil spill amid disagreements over the oil giant's commitment to safety, a class-action lawsuit says.

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BP chief focusing on future

BP chief focusing on future

BP's new chief executive shifted focus at the oil giant to the "future rather than the legacy of the past" today as it revealed the Gulf of Mexico oil spill saw the company sink to its first loss in nearly 20 years.

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Sea turtle deaths soared after BP oil spill - report

Sea turtle deaths soared after BP oil spill - report

More sea turtles were killed or injured in the Gulf of Mexico in the months following the BP oil spill than in any similar period during the past two decades, a report found.

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BP spill probe: 'More effort' needed to avoid another oil disaster

BP spill probe: 'More effort' needed to avoid another oil disaster

The oil industry and the government need to do more to reduce the chances of another large-scale oil spill, a US presidential panel investigating the BP well blow-out said today.

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Massive oil spill 'could happen again'

Massive oil spill 'could happen again'

Decisions intended to save time and money created an unreasonable risk that triggered the largest offshore oil spill in US history, which could happen again without significant reforms, the top-level panel probing the BP blowout said tonight.

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BP denies oil probation breach

Oil giant BP is fighting charges that it violated probation for a 2006 oil spill on Alaska's North Slope by allowing another large spill in the area three years later.

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US govt suing BP over oil spill

US govt suing BP over oil spill

The US government is to sue BP for costs and damages in a bid to recoup billions of dollars after the Gulf of Mexico oil spill.

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US government to sue BP after oil spill

US government to sue BP after oil spill

The US government announced today it is to sue BP for costs and damages resulting from the Gulf of Mexico oil spill.

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Gulf disaster tops Yahoo search chart

Gulf disaster tops Yahoo search chart

The BP rig disaster managed to topple Michael Jackson from the top spot on this year’s Yahoo list of most popular internet search requests.

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BP criticised for 'rushed' work on Gulf rig

Oil giant BP too often operated in a rush during the closing days of work on its doomed Gulf of Mexico well, a US presidential inquiry said today.

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Oil spill contingency plans were inadequate, admits Hayward

Oil spill contingency plans were inadequate, admits Hayward

BP's former boss today admitted the group's oil spill contingency plans were "inadequate" and said it was unprepared for the media "feeding frenzy" after the Gulf of Mexico disaster.

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No evidence BP sacrificed safety to cut costs - report

The presidential commission investigating the BP Gulf oil spill today challenged claims made in Congress that the oil company and others sacrificed safety to cuts cost.

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Coral damage found near BP well site

Coral damage found near BP well site

US federal scientists said they found damage to deep sea corals and other marine life several miles from where BP’s blown-out well spewed millions of gallons of oil into the Gulf of Mexico.

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Contractor: We skipped crucial test on BP oil rig

Contractor: We skipped crucial test on BP oil rig

Contractor Halliburton admitted today that it skipped a crucial test on the final formulation of cement used to seal the BP oil well that blew out in the Gulf of Mexico.

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BP sells four Gulf of Mexico fields to offset oil-spill costs

BP sells four Gulf of Mexico fields to offset oil-spill costs

BP has said it will sell four Gulf of Mexico oil fields to Japanese company Marubeni as part of its asset sale to help pay for the oil spill there.

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BP waives cap over oil spill liability

BP informed a US federal judge that the company is waiving a $75m (€54m) cap on its liability for certain economic damage claims spawned by the massive Gulf oil spill.

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EU to introduce oil platform safety laws

EU to introduce oil platform safety laws

Proposals for the first EU-wide laws on oil platform safety and standards are likely early next year, the European Commission said today.

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BP 'in £6.3bn sale talks'

BP is reported to be in talks with China's third-largest oil company over the sale of its Argentinian business for £6.3bn (€7.2bn).

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New BP boss announces major overhaul

New BP boss announces major overhaul

BP’s incoming chief executive took the first steps in rebuilding shattered confidence in the group today as he announced plans for a new safety division with “sweeping powers”.

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Permanent plug being pumped into BP's gulf well

Permanent plug being pumped into BP's gulf well

Crews are pumping cement into BP’s blown-out oil well thousands of feet below the sea bottom, working to permanently seal it.

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Final seal close for BP oil-spill well

Final seal close for BP oil-spill well

A relief well drilled nearly 2.5 miles under the floor of the Gulf of Mexico has intersected BP’s blown-out well, a prelude to plugging it once and for all, the US government said.

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Outgoing BP chief defends safety record

Outgoing BP chief defends safety record

Embattled BP boss Tony Hayward defended the firm’s safety record tonight as he was grilled by a committee of MPs over the implications of the Gulf of Mexico oil spill.

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Blown-out well 'to be sealed by Sunday'

Blown-out well 'to be sealed by Sunday'

The US government’s incident commander for the Gulf of Mexico oil spill said today that BP’s blown-out well is expected to be permanently sealed and declared dead by Sunday, nearly five months after a rig explosion set off the disaster.

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Contractors hit back at BP oil spill report

Contractors hit back at BP oil spill report

BP's investigation into the Gulf of Mexico spill sparked a backlash from its contractors and US politicians who accused the oil giant of attempting to shift some of the blame.

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BP report recommends better staff training

BP report recommends better staff training

The team behind BP's internal investigation into the Gulf of Mexico oil disaster laid out 25 recommendations to prevent similar tragedies from occurring in the future.

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BP report blames oil spill on 'mechanical failures and human judgements'

BP report blames oil spill on 'mechanical failures and human judgements'

A “complex and interlinked” series of events involving mechanical failures and human judgments led to the Gulf of Mexico oil disaster, a report by oil giant BP said today.

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BP to publish oil spill report today

BP to publish oil spill report today

BP will today publish the findings of an investigation into the causes of the Gulf of Mexico oil disaster which led to the largest offshore spill in history.

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Gulf spill well 'no longer a threat'

Gulf spill well 'no longer a threat'

The ruptured well which pumped almost five million barrels of oil into the Gulf of Mexico has been secured and no longer constitutes a threat, it was confirmed tonight.

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Rough seas hamper oil spill clear-up work

Rough seas hamper oil spill clear-up work

Work to remove the 300-ton piece of equipment that failed to stop the massive BP oil spill could be delayed until the weekend or longer because of rough seas.

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BP vice-president grilled about safety strategy

Frustrated Gulf oil spill investigators in the US lashed out at BP over its refusal to explain who was in charge of safety at the Deepwater Horizon rig.

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