BP oil spill News

The approval of the deal Monday by the federal district judge in Louisiana took the overall legal process over one of the worst oil pollution cases in history closer to final resolution.

The methane leak, detected at the gas company`s Aliso Canyon facility, has been described as an environmental disaster.

The British government has warned oil giant BP that it would oppose a foreign takeover of the company weakened in recent years by the Gulf of Mexico oil spill, media reports said Monday.

BP Plc on Monday appealed a federal judge`s finding of the size of the 2010 Gulf of Mexico oil spill, which leaves the company potentially liable to pay $13.7 billion in fines.

A US judge has decided that BP Plc was “grossly negligent” and “reckless” in the Gulf of Mexico oil spill four years ago, a ruling that could add nearly USD18 billion in fines to more than USD42 billion in charges the company took for the worst offshore environmental disaster in US history.

Oil services company Halliburton said Tuesday it would pay a $1.1 billion settlement over its role in the 2010 Gulf of Mexico oil rig blowout that led to the United States` most disastrous oil spill.

BP said the uncapped settlement could cost USD9.2 billion, higher than its original USD7.8 billion estimate, and that this amount could grow.