Key Developments: BP PLC (BP.L)

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Latest Key Developments (Source: Significant Developments)

BP Plc announces quarterly dividend
Tuesday, 28 Jul 2015 02:02am EDT 

BP Plc:Announces quarterly dividend of 10 cents per ordinary share.Says the dividend is expected to be paid in September.  Full Article

BP Plc reaches $18.7 billion settlement over deadly 2010 spill - Reuters
Wednesday, 1 Jul 2015 08:00pm EDT 

BP Plc:Says will pay up to $18.7 billion in penalties to the U.S. government and five states to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago - Reuters.Says the agreement adds to the $43.8 billion that BP had previously set aside for criminal and civil penalties and cleanup costs.Says Under the agreement with the U.S. Department of Justice and the states, BP will pay at least $12.8 billion for Clean Water Act fines and natural resource damages, plus $4.9 billion to states.Says payouts will be staggered over as many as 18 years.  Full Article

U.S. Supreme Court rejects BP Plc, Anadarko over Deepwater Horizon spill penalties - Reuters
Sunday, 28 Jun 2015 08:00pm EDT 

BP Plc:Says U.S. Supreme Court rejected bids by BP Plc and Anadarko Petroleum Corp to avoid penalties under federal pollution law in connection with the 2010 Gulf of Mexico oil spill - Reuters.Says high court left in place a June 2014 ruling by the New Orleans-based 5th U.S. Circuit Court of Appeals, which said the companies were liable for civil penalties under the federal Clean Water Act.Says BP could face a maximum penalty of $13.7 billion under the Clean Water Act.Says Anadarko could be required to pay more than $1 billion.Says U.S. District Judge Carl Barbier in New Orleans has not yet imposed penalties, but has ruled that BP was grossly negligent and that 3.19 million barrels of oil were spilled.Says BP and Anadarko owned a respective 65 percent and 25 percent of the Macondo well.Says the companies had argued in part that they should not be responsible for oil spilled as a result of failed equipment on the drilling rig, which was owned by Transocean Ltd.As co-owners of the well, BP and Anadarko would be on the hook for resulting fines, the appeals court ruled.  Full Article

BP PLC announces scrip dividend programme
Friday, 19 Jun 2015 02:00am EDT 

BP PLC:Confirms the allotment and issue of 18,907,167 ordinary shares of $0.25 each to shareholders who elected to receive ordinary shares under the scrip dividend programme as an alternative for the first quarter interim dividend for 2015, payable on June 19, 2015.  Full Article

BP PLC declares interim dividend
Monday, 8 Jun 2015 05:41am EDT 

BP PLC:Announces that the interim dividend for the first quarter 2015 would be $0.10 per ordinary share ($0.60 per ADS).Says this interim dividend is to be paid on June 19 to shareholders on the share register on May 8.  Full Article

BP Plc declares stable quarterly dividend
Tuesday, 28 Apr 2015 02:01am EDT 

BP Plc:Announced a stable quarterly dividend of 10 cents per ordinary share, expected to be paid in June.  Full Article

BP Plc finalises deal to develop Egypt's west nile delta gas fields
Friday, 6 Mar 2015 04:47am EST 

BP Plc:Signs final agreements of West Nile Delta project to develop 5 trillion cubic feet (tcf) of gas resources and 55 million barrels (mmbbls) of condensates with an estimated investment of around $12 billion by BP and its partner.Says project underlines BP's commitment to Egyptian market and is a vote of confidence in Egypt's investment climate and economic potential.  Full Article

Ohio attorney general sues BP Plc for more than $33 mln in cleanup of leaking storage tanks - AP
Sunday, 1 Mar 2015 07:00pm EST 

BP Plc:Ohio is suing BP for more than $33 mln, alleging it double dipped by taking state funds and money from insurers to clean up accidental leaks from underground storage tanks at hundreds of its gas stations around the state - The Associated Press.The state’s attorney general and the Ohio Petroleum Underground Storage Tank Release Compensation Board filed the lawsuit on March 2.The board administers a fund used as a last resort when tank owners lack coverage or don’t accept insurance money.The lawsuit alleges BP wrongfully obtained $33.3 mln in reimbursements from the fund, saying it had no insurance for the leaks when it often accepted insurance money for the same releases.  Full Article

BP Plc appeals U.S. judge's ruling on size of Gulf oil spill - Reuters
Monday, 23 Feb 2015 06:58pm EST 

BP Plc:Appealed a federal judge's finding of the size of the 2010 Gulf of Mexico oil spill, which leaves the company potentially liable to pay $13.7 bln in fines - Reuters.In January, U.S. District Judge Carl Barbier in New Orleans ruled that 3.19 mln barrels of oil had spilled into the Gulf as a result of the disaster.The appeal comes days after Barbier rejected the company's attempt to reduce the maximum civil fine it could face for its role in the disaster.That decision could result in a $13.7 bln fine for the company under the federal Clean Water Act.BP had argued for a maximum fine of $3,000 per barrel, while Barbier agreed with the federal government in setting the figure at $4,300 per barrel.  Full Article

BP Plc loses bid to cut maximum $13.7 bln Gulf spill fine - Reuters
Thursday, 19 Feb 2015 09:04pm EST 

BP Plc:A U.S. judge on Feb. 19 rejected BP Plc's attempt to reduce the maximum civil fine it could face for its role in the 2010 Gulf of Mexico oil spill, leaving it potentially liable to pay $13.7 bln under the federal Clean Water Act - Reuters.U.S. District Judge Carl Barbier in New Orleans agreed with the federal government that the maximum civil penalty that BP could face is $4,300 per barrel spilled.BP had sought a $3,000 per barrel maximum, equal to a maximum $9.57 bln civil fine.BP had argued that the Clean Water Act in 1990 capped the maximum fine at $3,000 per barrel in cases of gross negligence or willful misconduct.  Full Article

Canada reviews Arctic drilling plan as industry seeks concessions

CALGARY, Alberta, July 29 - Canada's Conservative government is studying whether to extend Arctic drilling licenses, a move that could open the door to relinquishing millions of dollars in deposits paid by major energy companies.

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