BP Has 24 Hours to Provide Answers About Oil Spill
Gulf of Mexico Oil Spill Disaster Worsens
Gulf Oil Spill causes Political Changes of Heart about Offshore Drilling
White House Defends Offshore Drilling Plan even after oil spill disaster
BP Oil Spill Timeline - Ongoing Disaster
The World Suffers Another Oil Spill in China
Reclaimed BP Oil in Your Fuel Tank?
Despite BP Oil Spill Disaster, Federal Appeals Court Says ‘Drill, Baby, Drill’
New Offshore Drilling Ban announced by Salazar
Obama Plans Tax Hike on BP to Pay for Oil Spill
Storm Delays BP Relief Well and Bottom-Kill
Siemens to provide Wind Turbines for Denmark's Largest Offshore Wind Power Plant
East Coast Governors Band Together to Promote Wind Energy
US Oil Spill Commission: Government and Industry Share Blame for BP Disaster
Toshiba Ends Incandescent Bulb Production & Cuts CO2 emissions by 430,000 tons
Shell Oil Company Sues BP For Loss of Production/Profit due to Oil Spill
The BP oil spill litigation frenzy began today in Boise, Idaho. Lawyers representing clients ranging from fishermen to investors presented their arguments to a panel of U.S. judges. At issue are how the thousands of BP oil spill lawsuits should be combined and where the lawsuits should be adjudicated.
One lawsuit is with Royal Dutch Shell Plc. They are claiming $56 million, which reflects the cost of stopping oil production on seven rigs located in the Gulf of Mexico. Production was halted as a result of the Obama administration’s offshore oil drilling ban put into effect in response to the BP oil spill. Shell claims that they will likely produce 3 million barrels less oil this year because of the oil drilling ban. Shell decided it would be unprofitable to move the rigs to other locations.
Since the oil spill and subsequent offshore oil drilling ban can be laid at BP's door, Shell has determined that BP should bear the cost of reduced production and, therefore, greatly reduced profits.
Although BP has established a $20 billion fund to address claims from various businesses and individuals adversely affected by the oil spill, BP does not consider losses due to the oil drilling ban to be a valid claim.
Recommended for Further Reading:
- BP Has 24 Hours to Provide Answers About Oil Spill
- Gulf of Mexico Oil Spill Disaster Worsens
- Gulf Oil Spill causes Political Changes of Heart about Offshore Drilling
- White House Defends Offshore Drilling Plan even after oil spill disaster
- BP Oil Spill Timeline - Ongoing Disaster
- The World Suffers Another Oil Spill in China
- Reclaimed BP Oil in Your Fuel Tank?
- Despite BP Oil Spill Disaster, Federal Appeals Court Says ‘Drill, Baby, Drill’
- New Offshore Drilling Ban announced by Salazar
- Obama Plans Tax Hike on BP to Pay for Oil Spill
- Storm Delays BP Relief Well and Bottom-Kill
- Siemens to provide Wind Turbines for Denmark's Largest Offshore Wind Power Plant
- East Coast Governors Band Together to Promote Wind Energy
- US Oil Spill Commission: Government and Industry Share Blame for BP Disaster
- Toshiba Ends Incandescent Bulb Production & Cuts CO2 emissions by 430,000 tons
Shell Oil Company Sues BP For Loss of Production/Profit due to Oil Spill http://t.co/KMP3dTZ #eco #cleantech #greenbuilding #renewableenergy
Hi, my name is Kim from Shell. In our opinion the headline and much of the article is not correct. Shell has not said whether or not it will "sue" BP for any sum related to the oil spill. Indeed, the Reuters article given as the source link above only says:
"Potentially adding its name to the line of claimants, Royal Dutch Shell Plc (RDSa.L)...did not rule out reclaiming the cash from BP."
RT @buildaroo: Shell sues #bp for loss of production/ profit due 2 offshore oil drilling ban http://bit.ly/cxXYdP #oilspill #gulfoilspill #environment
RT @buildaroo Shell sues #bp for loss of production/ profit due 2 oil spill http://bit.ly/cxXYdP #oilspill #gulfoilspill #environment