Anadarko (APC) Falls On Liabilaity Concerns Related to Gulf Oil Spill

Shares of Anadarko Petroleum Corporation (NYSE: APC) are lower today on speculation surrounding the company's liability related to the Gulf oil well blowout.

According to reports from the Financial Times, Anadarko approved key Macondo well designs and also knew of significant operational decisions.

Anadarko owns 25 percent stake in the Macondo well, but has been trying to distance itself from the incident by saying the spill was due to BP's "reckless decisions and actions."

BP has already spent $2.65 billion and agreed to set-up a $20 billion fund for future payouts. Anadarko has yet to spend dime one.

Shares of Anadarko are down 3.4 percent this morning and 52 percent down since the Deepwater Horizon exploded on April 20th.

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