BP plc (BP) Says Halliburton (HAL) Should Pay for All of Gulf Oil Spill
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BP plc (NYSE: BP) is keeping the ball rolling with the whole Gulf of Mexico oil spill, and who should actually be paying for the disaster.
According to reports over the weekend, BP has asked Halliburton (NYSE: HAL) to pay for all costs associated with the April 2010 event, which cost the lives of 11 rig workers and was detrimental to the fishing industry in New Orleans and other Gulf states.
To-date, BP has shelled out about $14 billion in clean-up expenses, and also set aside $20 billion for damage claims.
The claim was filed with U.S. Federal court. BBC quotes the filing as saying BP wants Halliburton to cover "the amount of costs and expenses incurred by BP to clean up and remediate the oil spill, the lost profits from and/or diminution in value of the Macondo prospect, and all other costs and damages incurred by BP related to the Deepwater Horizon incident and resulting oil spill."
Hearings on the BP/Halliburton case are slated to begin in February. BP is still in a battle with Transocean (NYSE: RIG), owner of the ill-fated Deepwater Horizon rig in the Gulf, over blame for the rig failure.
BP shares are up 1.9 percent early Tuesday. RIG is up 2.4 percent and HAL is flat.
According to reports over the weekend, BP has asked Halliburton (NYSE: HAL) to pay for all costs associated with the April 2010 event, which cost the lives of 11 rig workers and was detrimental to the fishing industry in New Orleans and other Gulf states.
To-date, BP has shelled out about $14 billion in clean-up expenses, and also set aside $20 billion for damage claims.
The claim was filed with U.S. Federal court. BBC quotes the filing as saying BP wants Halliburton to cover "the amount of costs and expenses incurred by BP to clean up and remediate the oil spill, the lost profits from and/or diminution in value of the Macondo prospect, and all other costs and damages incurred by BP related to the Deepwater Horizon incident and resulting oil spill."
Hearings on the BP/Halliburton case are slated to begin in February. BP is still in a battle with Transocean (NYSE: RIG), owner of the ill-fated Deepwater Horizon rig in the Gulf, over blame for the rig failure.
BP shares are up 1.9 percent early Tuesday. RIG is up 2.4 percent and HAL is flat.
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