BP Partner Balks at Blame — and the Bill

BP Partner Balks at Blame -- and the Bill

BP sent Anadarko Petroleum a bill for $272 million, a quarter of Gulf oil spill cleanup costs to date. Anadarko is a 25 percent partner in the Deepwater Horizon drilling project. Another 10 percent of the disaster is owned by Japan’s Mitsui, so that company got a $111 million invoice.

Anadarko CEO Jim Hackett issued a statement last month blaming the oil spill on “BP’s reckless decisions and actions,” so expect some resistence from the junior partner. Mitsui merely says it has until July 12th to reply. Corporate and maritime lawyers everywhere are on alert.

Other sources claim oil spill cleanup costs to date exceed $3 billion and may rise to $6 billion. Damages are something else again. BP has established a $20 billion fund to meet preliminary claims.

More:

“BP Wants Partners to Help Shoulder Spill Cost,” John Schwartz, New York Times.

“BP Passes the Buck to Oil Well Partners,” Dana Chivvis, AOL News.

 

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

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