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Oil Spikes On Soaring U.S., Iran Tensions

Oil Spikes On Soaring U.S., Iran Tensions

Oil prices spiked on Thursday…

Oil Holds Steady Amid Small Rig Count Decline

Oil Holds Steady Amid Small Rig Count Decline

Oil prices held steady on…

The Superbowl and Mardi Gras Delay the Deepwater Horizon Trial

On the 20th of April 2010 the Deepwater Horizon Rig drilling in Macondo Prospect in the Gulf of Mexico suffered an explosion which caused a blowout, killing 11 workers injuring 17, and resulted in a devastating oil spill that released nearly 4.9 million barrels of oil into the ocean over a period of 87 days.

The trial to determine the liability of BP, the rigs owner, was originally set for the beginning of this year, but is has been delayed several times in order to wait for an upcoming $7.8 billion settlement with private settlements, and today it was delayed once again.

The trial was set to take place in New Orleans on the 14th of January, but US District Judge Carl Barbier, who will preside over the entire three part hearing, has decided to delay the start date once again due to conflicting events occurring in the city.

The new date has been set as the 25th of February 2013, which will give the city time to quieten down following the NFL Super Bowl on the 3rd of February, and the Mardi Gras festival on the 12th of February.

By. Joao Peixe of Oilprice.com



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