Transocean, which owned the Deepwater Horizon oil rig, has agreed to a settlement with the US government.
By now, everyone realizes the tremendous environmental and economic disaster that has become of the accidental explosion and sinking of the Deepwater Horizon oil rig five weeks ago.
Mr Hayward, who resigned from BP in the wake of the 2010 Deepwater Horizon oil rig disaster, became a senior independent director of Glencore after the commodities group listed on the stock market in 2011.
The explosion of the Deepwater Horizon oil rig, owned by Transocean and operated by BP, cost the lives of 11 men and caused the leaking of about 4.9 million barrels of oil into the waters of the Gulf.
FORBES: BP's Post-Macondo Reality: Rising Profits On Falling Production
Its revenue and profit are rising, but the Deepwater Horizon oil-rig disaster in 2010 has resulted in greater government oversight and regulations, it warns.
As soon as the Deepwater Horizon oil drilling rig exploded on April 20 in the Gulf of Mexico, the portfolio managers at Metropole Gestion sitting thousands of miles away dumped the shares of BP they owned in their various funds.
The disaster began with an April 20 explosion aboard the oil rig Deepwater Horizon that left 11 men dead.
The Deepwater Horizon rig was leased to oil giant BP to drill an exploratory well.
FORBES: Transocean Said To Pay $1.4B To DOJ For Role in Deepwater Horizon Explosion
The Deepwater Horizon accident, in which an oil rig exploded killing 11 people, caused one of the worst oil spills in history.
The class action case is In Re: Oil Spill by the Oil Rig "Deepwater Horizon" in the Gulf of Mexico on April 20, 2010, U.S. District Court for the Eastern District of Louisiana, No. 10-2179.
Washington (CNN) -- Oil giant BP and contractor Halliburton knew of potential flaws in the cement slurry used to reinforce the oil well below the Deepwater Horizon rig before it exploded in April, according to a letter Thursday from the lead investigator for a federal probe of the Gulf oil disaster.
The Deepwater Horizon rig, which started the Gulf oil disaster, was drilling in 5, 000 feet of water.
Much of the oil has dissipated from the Deepwater Horizon rig explosion that haunted the Gulf of Mexico last year, but one of the worst man-made disasters in US history is still taking its toll on tourism to the region.
Tens of thousands of barrels of oil have leaked every day since the Deepwater Horizon rig sank in April.
But the project has caused anxiety in the US, particularly following the 2010 leak at BP's Deepwater Horizon rig, which dumped millions of barrels of oil into the Gulf of Mexico.
On May 27, President Barack Obama ordered a six-month offshore drilling moratorium in the wake of the April explosion and sinking of the Deepwater Horizon rig, which killed 11 workers and started oil gushing into the Gulf.
The moratorium was imposed by President Obama on May 27 after the April 20 explosion aboard the Deepwater Horizon drilling rig off the coast of Louisiana triggered an underwater oil gusher.
Oil has been leaking into the Gulf since the Deepwater Horizon rig exploded on 20 April and sank off the coast of the US state of Louisiana, killing 11 workers.
The London-based company has lost more than a third of its stock-market value since April 20, when one of its gulf wells blew out, destroying the Deepwater Horizon drilling rig, killing 11 men and triggering the worst offshore oil spill in U.S. history.
But five weeks after the Deepwater Horizon drilling rig sank, it seems possible that the rate at which oil is going into the ocean, if not the rate at which it is coming out, might be coming under control.
ECONOMIST: Nerves are fraying a month after the Gulf of Mexico oil spill
The Deepwater Horizon Oil Spill began in the Gulf of Mexico on April 20th with a drilling rig explosion that killed eleven platform workers and injured seventeen others.
The 20th was the day of the explosion on the Deepwater Horizon rig above the well that killed 11 workers and caused the worst oil spill in U.S. history.
The Obama administration is looking for ways to improve the regulation of offshore drilling in the wake of the Gulf of Mexico oil spill, which stemmed from an explosion in April on the Deepwater Horizon rig, operated by BP.
FORBES: Drilling Industry Meets With Interior Secretary To Discuss New Safety Organization
The burn-off is part of the effort to prevent the spread of oil from an underwater well that was broken open when the drill rig Deepwater Horizon blew up and sank last week.
While BP was extracting the oil from underneath the Gulf of Mexico when the Macondo well exploded, the Deepwater Horizon rig itself was owned by Transocean.
Oil continued flowing at the rate of about 5, 000 barrels per day into the Gulf of Mexico on May 3, following the April 20 explosion at the Deepwater Horizon rig south of the Mississippi Delta that caused it to sink and left its well leaking oil.
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