"Part owner of blown-out oil well tells BP it won’t help fund cleanup" by Associated Press | July 10, 2010
NEW YORK — Anadarko Petroleum Corp. says it won’t help BP pay for the worst oil spill in US history.
The Houston company, which owns 25 percent of BP’s blown-out well in the Gulf of Mexico, said yesterday that it has refused to send the $272 million contribution BP requested in June.
The company believes it should be excused from payments because of BP’s reckless handling of the failed deepwater operation....
BP says it is disappointed and will evaluate its options....
Another minority owner, Mitsui Oil Exploration Co., has not responded to BP’s request to help pay for the spill.
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Give them a second, will you?
NEW YORK — Both of BP’s partners in its blown-out Gulf well have turned their backs on the company, refusing to pay to help clean up.
Hey, BP turned their backs on you, America.
A BP spokesman said yesterday that MOEX Offshore 2007 LLC has turned away a $111 million cleanup bill that BP requested last month. The other minority owner, Anadarko Petroleum Corp., refused a $272 million bill from BP last week.
“We are disappointed that they too are failing to live up to their responsibilities,’’ BP spokesman Andrew Gowers said of MOEX. “We won’t be distracted from fulfilling our own.’’
Government does it all the time.
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MOEX Offshore, which owns 10 percent of the well, is owned by Japan’s Mitsui Oil Exploration Co. Anadarko, which owns 25 percent of the well, argued for the past several weeks that BP was reckless in its handling of the well.
That sure is true.
Chief executive Jim Hackett said BP’s actions amounted to gross negligence, excusing the minority partners from what could be billions of dollars in cleanup costs and damage claims.
They did have plenty of warnings from workers on the rig, but....
BP already has paid more than $3 billion, and the government handed it another bill for nearly $99.7 million yesterday. BP also has agreed to set aside another $20 billion for damages from the massive spill. BP has suspended its dividend and plans to shed $10 billion in assets over the next 12 months to help pay for the spill....
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"BP chief meets with UAE’s prince" by Associated Press | July 8, 2010
DUBAI, United Arab Emirates — BP’s embattled chief executive, Tony Hayward, flew to Abu Dhabi and met with the emirate’s crown prince, Sheik Mohammed, amid speculation the oil giant is looking to raise cash as costs mount to contain the Gulf of Mexico oil spill....
The Saudi daily al-Eqtisadiah reported that a delegation of Saudi investors was headed to London to discuss an acquisition of up to 15 percent of BP. The newspaper did not say where it got the information, which could not be independently confirmed.
So? Happens all the time in the AmeriKan papers.
BP has a longstanding partnership with the state-owned Abu Dhabi National Oil Co.
Hayward’s visit comes as speculation swirls that BP might be looking for investment partners from the Middle East. Its costs to clean up the spill have shot past $3 billion, not counting a $20 billion fund for damages, the company created last month.
BP’s shares rose earlier in the week amid reports it was reaching out to Gulf funds in an attempt to raise cash to cover the cleanup and fend off possible takeover bids.
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Who would want to buy them?
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