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Transocean to pay $1.4B fine for Gulf oil spill

Transocean, the drilling company that owned the oil rig implicated in the catastrophic Deepwater Horizon oil spill in the Gulf of Mexico, will plead guilty to violating the Clean Water Act and pay a $1.4 billion fine, the Justice Department said Thursday.

FIRST SETTLEMENTS ANNOUNCED FROM BP OIL SPILL CLASS ACTION

Brent Coon and Associates (BCA) is pleased to announce the resolution of its first cases with the BP Oil Spill Settlement program.

Statement From Brent Coon on BP Settlement With OSHA Regarding Fines For Safety Violation Stemming From 2005 Texas City Explosion

We are pleased to see that OSHA is still closely monitoring the work to improve the conditions of the BP Texas City facility, with focus on the condition of the relief valve systems, which are critical to safe operations in refineries.

The failure to properly monitor such relief systems in the past have contributed to a number of incidents in that facility, most notably the explosion in March of 2005 which killed 15 people. This is yet another step in a long delayed process to return the BP Texas City facility to safe operating conditions. BP failed to honor the settlement agreement entered into with OSHA in 2007 and failed to honor the terms of their DOJ plea agreement as well. While the additional fines for those failures help add pressure to the management of BP to speed up their safety improvements and maintenance practices, the failure to prosecute management personnel individually has allowed the company to act with less haste than it would have otherwise.

BP to sell Texas City refinery

Beaumont Enterprise

BP announced Tuesday it plans to sell its Texas City and Carson, Calif. refineries, cutting its U.S. refining capacity in half.

Beaumont attorney Brent Coon, who represented plaintiffs in a lawsuit against BP after the company's 2005 Texas City refinery explosion, said it's not clear how the facility's ongoing probation status under a federal criminal settlement will impact the sale.

BP to divest half its U.S. refining capacity

Reuters

BP Plc put half its U.S. refining assets up for sale on Tuesday, including the huge Texas City plant, a potentially prize asset but one that carries the stigma of a 2005 blast that killed 15 workers.

Gunning for BP

Petroleum Economist


HE RIDES a Harley, plays guitar in a rock band and goes skydiving. But Brent Coon's name is known for something else: suing BP. And that's ok with him. With Coon leading many of the lawsuits against BP following the Texas City refinery disaster of 2005, which killed 15 workers and injured more than 100, the settlements ran to more than $3bn.

Transocean ordered to turn over audits and records on all of its Gulf of Mexico vessels

Times Picayune

U.S. District Court Judge Carl Barbier ordered Transocean Ltd. Friday to give safety audits and other materials on all of its vessels in the Gulf of Mexico to government investigators, and not just material related to the Deepwater Horizon rig.

Special report: How BP's oil spill costs could double

Originally posted on CNBC.com - December 1, 2010

LONDON - Last month, BP increased by $8 billion the financial provisions it was taking for the Gulf of Mexico oil spill; the company's shares rose. Better-than- expected underlying profits and upbeat comments from new Chief Executive Bob Dudley were taken by the market as a sign the company had turned the corner and would soon return to pumping out steadily rising dividends.

Sex, Drugs & Alcohol: How BP Secured an Oil Deal in Azerbaijan

As reported late last ...

Beaumont law firm to collect evidence in federal lawsuit against BP, others

Beaumont Enterprise

Several law firms, including Brent Coon and Associates, will participate in the complicated evidence-gathering process, which is expected to last well into 2011 and produce tens of millions of documents.