RIO DE JANEIRO, Nov 28- Brazilian iron ore miner Samarco has suspended payments to employees and suppliers because its funds have been frozen by courts in the wake of a deadly dam burst and destructive flood of muddy mine waste, the company said in a statement on Saturday. The company, a joint venture between Australia's BHP Billiton Ltd, the world's largest mining...» Read More
Beaches have been cleaned of crude, the leak has been plugged and some cities never had oil wash ashore at all. Still, tourists stay away from what they fear are oil-coated coastlines—a perception officials say could take years to overcome and cost the region billions of dollars.
Nearly five years after Katrina and the devastating failures of the levee system, New Orleans is well on its way to getting the protection system Congress ordered: a ring of 350 miles of linked levees, flood walls, gates and pumps that surrounds the city and should defend it against the kind of flooding that in any given year has a 1 percent chance of occurring.
Five years after Hurricane Katrina destroyed New Orleans, the city's mayor said its recovery—slowed by the Gulf oil spill—will take at least another five years.
Russia's reputation as a dangerous country for investors actually gives foreigners brave enough to invest there an advantage, Jochen Wermuth, CIO of Wermuth Asset Management, told CNBC Wednesday.
Media coverage of the Gulf oil spill’s effect on the gulf has focused on tourist income lost by the waterfront towns with footage of empty beaches, restaurants and T-shirt shops dominates the news. Interviews with devastated business owners are heart-rending. But they always end with references to somehow hanging on until “things get back to normal.”
It’s pretty safe to say that BP has been the most-watched company in the world for the last 100+ days since the fire and subsequent oil spill in the Gulf of Mexico began.
BP on Wednesday said its “static kill” operation to stem the leak at its Macondo well in the Gulf of Mexico appeared to have succeeded, a step the UK energy group described as a “significant milestone”.
Corporate America has a lesson to learn here—we must act as though people’s lives and livelihoods depend upon our decisions. Because they do. The best defense against disaster, whether natural or man-made, is to take steps now to ensure your organization is safeguarded against accidents, fortified to withstand them, and buoyant enough to recover in their wake.
Looks like Tony Hayward will have his life back after all. British oil giant BP has replaced him with Bob Dudley, an American known for diplomacy. This move that might soften U.S. criticism of the way BP has been handling the oil spill in the Gulf of Mexico.
The biggest challenge for Dudley is going to be reconfiguring the company culture toward rigorous accountability. Going forward, corporate social responsibility (CSR) will have a new found meaning at BP.
"I'm hearing from them constantly." That's what Kenneth Feinberg, the administrator of a $20 billion oil spill compensation fund, told members of Congress. Them? Real estate agents and brokers. "They make a credible argument," he adds.
Apache has a reputation of grabbing mature assets on the cheap and squeezing substantial value out of them. There is a distinct possibility that the reported $10-plus billion asset sale could include BP's Alaska operations.
In the "I'd never believe it if I didn't see it with my own eyes" category, BP once released a board game called "Offshore Oil Strike".
BP's massive oil spill will become the largest ever in the Gulf of Mexico by Thursday based on the highest of the federal government's estimates, an ominous record that underscores the oil giant's dire need to halt the gusher.
The massive oil spill in the Gulf of Mexico has sparked more talk of a move to clean energy, and billionaire energy investor Boone Pickens, founder of BP Capital Management, is among those calling for action.
Oil giant BP is floating a financial lifeline to the owners, operators and suppliers of the gas stations around America that bear its name and have been struggling because of boycotts prompted by the Gulf spill.
The company is making a serious mistake by being so secretive about the true nature of it capital needs.
Some of BP’s other trading partners, or counterparties, are asking for letters of credit from banks to guarantee that BP will make good on future trading debts, says one of the people familiar with the matter.
While oil companies have spent billions of dollars to drill deeper and farther out to sea, relatively little money and research have gone into finding new, improved ways to respond to oil spills in deepsea conditions like those in the Gulf of Mexico.
The first tropical depression of the Atlantic 2010 hurricane season has formed in the Western Caribbean, but it is unclear if it will pass over the massive oil spill in the Gulf of Mexico.