Topics: BP to resume Gulf drilling by midsummer. Gulf oil spill will loom large over Offshore Technology Conference. BP profits up on asset sales, higher oil prices. Attorneys in oil spill litigation now debate how trial should proceed. Greenpeace lawsuit accuses chemical companies of spying on it.
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As if the Gulf Coast didn't have enough problems already, BP has confirmed that it will be drilling in the Gulf after the mid-2011.
Chief Financial Officer Byron Grote told analysts that BP expected to be "back and actively drilling [in the Gulf] during the second half of the year." Fergus MacLeod, BP's head of investor relations, said BP's return was subject to regulatory approvals and would only happen if the company meets or exceeds new safety standards, such as tough requirements on oil-spill-response capabilities and equipment like blowout preventers.The bitching and moaning continues from BP and other drilling entities, as they complain they lost so much money because of the deepwater drilling moratorium - mainly in the cost of keeping rigs on standby waiting for the moratorium to be lifted.
Resuming operations in the Gulf has been difficult for all oil companies, not just BP. The new U.S. regulator, the Bureau of Ocean Energy Management, Regulation and Enforcement, BOEMRE, has imposed tough new safety and environmental standards on all operators, which now have to demonstrate how they would contain a subsea blowout.BP still operatestwenty-seven rigs around the world, most of which never stopped drilling. So, ignore the whining. They are greedy rat bastards...
Because they didn't lose a damn thing...They made money.
BP's net income was $7.2 billion for the quarter ending March 2011, compared with a paltry $6.2 billion for the same quarter last year. Revenue was up 18 percent to $88.3 billion after the company sold more than $24 billion in assets to pay for the Gulf spill.
All the gory details are here, if you for some reason feel the need to read it...
Rep. Ed Markey, (D-Mass.), wisely observed that serious profits, after the horror of the blowout, is a good reason to repeal tax breaks for oil producers.
“When BP makes billions in profits, even after the year they just had, you know it’s time to cap the gusher of tax breaks that have been subsidizing the biggest oil companies for decades,” Markey said in a statement. “Oil companies may have stopped the BP oil spill, but they want to keep the flow of taxpayer dollars going, even as they make billions in profits from those same taxpayers at the pump.”
More than 70,000 members of the energy industry will meet in Houston next week for the Offshore Technology Conference, where Macondo 252 is expected to be a major topic of business and conversation.
The inability of the shear rams to slice through canted drillpipe to stop the gusher has prompted "innovations" to take care of that nasty problem. T-3 Energy Services trumpets "Shear Innovation" on billboards, and has even gone so far as to include special cigar cutters in their press kits. Seriously. Please click on the link. Can it cut something other than cigars? Maybe egos?
Saeid Rahimian, president of Robbins Myers’ fluid management group, which oversees the T-3 business, told us previously the company was approaching the shear ram design challenge from scratch. Monday at OTC will be the big reveal.This dog-and-pony show should be interesting. We at Gulf Watchers will try to keep up with any "innovations" destined to change life as we know it...
With more than 100,000 complaints filed in the case of the BP gusher, attorneys are trying to decide exactly what will be included in the trial. The proposals, which will be discussed in this morning's monthly status conference before U.S. District Court Judge Carl Barbier, are a hodgepodge, with little clear focus.
The plaintiffs, the state of Alabama, and in a strange twist -- Transocean -- want a quick and far-reaching trial of liability issues for all parties encompassing everything from the blowout to efforts to stop the oil, to how much oil was spilled and economic losses. Their vision would include consideration of punitive damages.Transocean is attempting to use an archaic ruling to limit its liability.
In theory, the trial date is for an obscure maritime law proceeding brought by Transocean called the Limitation of Shipowner's Liability Act. Transocean, which owned the Deepwater Horizon rig, initially invoked the 1851 statute to try to limit its financial exposure to the $27 million value of the sunken rig. According to a Transocean statement when the case was filed last May in Houston, the case is supposed to deal only with matters of injury, death and property damage from the explosion.
BP and other defendants note that the court is already going at full-tilt taking as many as three depositions every day to get to the bottom of the events leading to the blowout and shoehorning more issues into the trial would require even more depositions by more people. BP says the plaintiffs' plan is "unworkable," as well as "contrary to governing law, and inherently unmanageable and unfair." The company said the litigation involves "the most complex admiralty proceedings in history" and the plaintiffs assertion that all liability issues involving at least 18 categories of plaintiffs against at least 21 defendants in a three-month trial on limited depositions is "unrealistic fantasy." A later filing called the plaintiffs' trial plan is a "case management quagmire and a legal morass."Quagmire. Morass. Okay... good descriptive words. But get closer to the truth, please. Call it an eternal sucking black hole of legal maneuvering destined to continue until the Sun goes nova. That would about do it, I think...
A federal judge will decide whether to allow a lawsuit to move forward alleging two major chemical companies, Dow and Sasol North America, used a private security firm to spy on environmental groups in Louisiana and Washington, D.C.
Refinery and power company officials are trying to piece together why several Texas City plants lost power, causing shelter-in-place warnings, Tuesday school closings and emissions from plant flares that lit the skies over the coastal town.
Linde to Add Hundreds of Jobs in Pennsylvania, but at what price? More jobs = good. But more gaz de schiste and more fracking? Shale gas+fracking = not good...
Linde Construction Corp. is looking to hire hundreds of workers over the next few years to keep pace with its growing presence in the natural gas industry, said spokesman Kevin Lynn.
PLEASE visit Pam LaPier's diary to find out how you can help the Gulf now and in the future. We don't have to be idle! And thanks to Crashing Vor and Pam LaPier for working on this!Previous Gulf Watcher diaries:
|4-27-11 06:01 AM||Gulf Watchers Wednesday - Science the loser in the Gulf - BP Catastrophe AUV #510||peraspera|
|4-25-11 05:40 PM||Gulf Watchers Monday -Safer Dispersant and Help from Talk Radio - BP Catastrophe AUV #509||shanesnana|
|4-24-11 12:02 PM||Gulf Watchers Sunday - Deficiencies and Omissions = Death - BP Catastrophe AUV #508||Lorinda Pike|
|4-22-11 06:49 PM||Gulf Watchers Block Party: Burning Edition||BlackSheep1|
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