BP Files A Monster Of A Lawsuit Against Halliburton

BP HQ

BP (British Petroleum) has filed a monster of a lawsuit against Halliburton, Transocean and Cameron International, over the massive oil spill that occurred off the coast of Louisiana last year. The environmental disaster turned out to be the worst spill in U.S. history.

BP seeks $40.9 billion in damages from the Defendants in the case. Yes, you read that right. Billion, not million. BP contends it is for money they paid out in claims and clean up, due to the regrettable spill.

British Petroleum has sustained a significant amount of damage during the disaster. BP’s shareholders and bottom-line, took a pounding over the spill, which British Petroleum stated was caused by the Defendants, as it was their machinery, methods and men that worked on the rig.

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BP In The Clear - Halliburton On The Hot Seat

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BP Launches Gigantic Lawsuit Against Halliburton, Transocean And Cameron

BP Denies Responsibility For Oil Spill

BP CEO Tony Hayward

BP, short for British Petroleum, has denied responsibility for the massive oil spill that occurred on the East Coast of America. BP stated, they hired American contractors, companies, people, systems and equipment for the job, which was in essence outsourced to U.S. company, Transocean. However, they stated they will do the honorable thing and pay for the costly clean up.

BP: Oil rig leak 'wasn't our accident'

CEO to NBC: We'll clean it up, but rig was run by Transocean

NEW ORLEANS - Facing an unprecedented Gulf Coast environmental disaster, not to mention lawsuits, oil giant BP told NBC on Monday that while it was taking responsibility for cleaning up the giant undersea leak, the accident that triggered the disaster was not its fault.

"It wasn't our accident, but we are absolutely responsible for the oil, for cleaning it up, and that's what we intend to do," BP Group CEO Tony Hayward told NBC's "TODAY" show.

The rig that exploded on April 20 and then sank was run by another company, Transocean, he reminded viewers. That rig, he said, "was run by their people, their processes."

Hayward added that the failure of the rig's "blow-out preventer" — a device that should have shut off the well when the rig exploded and sank — was "unprecedented in our industry."

"What has failed here is the ultimate safety device on a drilling rig," he said. "There are many barriers of protection that you have to go to before you get to this. It isn't designed to not fail."

http://www.msnbc.msn.com

BP Finds Billions Of Barrels Of Oil

BP - 3 Billion Barrels Found

BP, British Petroleum, found billions of barrels worth of oil, while engaging in exploratory drilling in the Gulf of Mexico. The value of the reserves made news everywhere.