• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 days Does Toyota Know Something That We Don’t?
  • 4 days America should go after China but it should be done in a wise way.
  • 10 days World could get rid of Putin and Russia but nobody is bold enough
  • 10 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 12 days China is using Chinese Names of Cities on their Border with Russia.
  • 11 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 2 days Even Shell Agrees with Climate Change!
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 12 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
U.S. Oil Drilling Sees 6-Rig Gain

U.S. Oil Drilling Sees 6-Rig Gain

The total number of active…

Iraq Moves to Take Control of Kurdistan's Finances

Iraq Moves to Take Control of Kurdistan's Finances

The Iraqi federal government is…

Halliburton to Agree Out of Court Settlement for Part in 2010 Oil Spill

Halliburton, the contractor hired by BP to carry out all cementing work on the ill-fated Macondo well, announced on Monday that it has entered into advanced talks to agree an out of court settlement for its part in the 2010 Gulf of Mexico oil spill.

The announcement was made just days after the court proceedings came to an end for the first phase of the trial that sees the federal government, Gulf Coast states, and a few private entities, claim damages against BP for the 2010 spill, which saw over 4 million barrels of oil released into the ocean after the fig exploded and sank.

Halliburton does not directly face charges, but BP has fought to hold it partially accountable, along with the drill rigs owner Transocean, and therefore Halliburton must prepare to pay a part of the damages that would otherwise be given to BP.

Related article: Why the Rush to Return to the Gulf of Mexico?

The size of Halliburton’s liability will not be fully clear until the end of the multidistrict case being overseen by a federal judge in New Orleans.

In the first quarter of the year Halliburton set aside $637 billion in order to cover legal expenses  that might occur as a result of the claims brought against it. This has led the company to report a first wuarter loss of $13 million, compared to the first quarter earnings of $635 million a year ago. Still, the news of a potential settlement saw share prices rise by nearly 6 percent on Monday.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News