WASHINGTON (AP) — A former BP employee who was a coordinator during the 2010 oil spill in the Gulf of Mexico has agreed to settle federal charges of using confidential information on the seriousness of the spill to profit illegally from trading in BP stock.
The Securities and Exchange Commission announced the settlement of civil insider-trading charges with Keith Seilhan, saying he agreed to pay $224,118. Seilhan neither admitted nor denied the SEC's allegations but agreed to refrain from future violations of securities laws.The agency says Seilhan was a crisis manager in BP's incident command center in Houma, Louisiana, and coordinated the initial cleanup operations after the spill that occurred April 20, 2010.
The SEC says he received private company information on the magnitude of the disaster, such as estimates of oil flow.
NEW ORLEANS (AP) — A former U.S. attorney in Baton Rouge heads up a new three-member audit panel appointed to review the settlement program arising from the 2010 BP oil spill in the Gulf of Mexico.
Raymond Lamonica, now a law professor at LSU, was appointed Wednesday by the federal judge overseeing litigation that followed the spill. Also named to the panel were accountant Lloyd Tate and LSU accounting professor Larry Crumbley.
ALBANY, N.Y. (AP) — State and federal environmental officials in New York are changing the way they prepare for oil spills.
The state's Department of Environmental Conservation announced last week that it's working with the U.S. Environmental Protection Agency and the Coast Guard to revise and update its plans for preventing and responding to spills.
Shoppers were loading cases of bottled water into their trolleys in Lanzhou, after word came that drinking water in the northwestern Chinese had 20 times the national limit for benzene, a problem for some 2.4 million people that was blamed on an oil leak, The Wall Street Journal reports.
Two Democratic senators opposed to the Keystone XL pipeline on Friday renewed their call for the Obama administration to postpone any permit decision until it conducts a study of the health impacts from oil sands crude.
Senate Environment and Public Works Chairman Barbara Boxer of California and Sen. Sheldon Whitehouse of Rhode Island told reporters that two public health groups, the American Public Health Association and the National Association of County and City Health Officials, had joined their request for such a study.
CHALMETTE, La. (AP) — When a BP oil well began gushing crude into the Gulf of Mexico four years ago, fisherman George Barisich used his boat to help clean up the millions of gallons of spew that would become the worst offshore spill in U.S. history.
Like so many Gulf Coast residents who pitched in after the April 20, 2010, explosion of the Deepwater Horizon rig, Barisich was motivated by a desire to help and a need to make money — the oil had eviscerated his livelihood.
Today he regrets that decision, and worries his life has been permanently altered. Barisich, 58, says respiratory problems he developed during the cleanup turned into pneumonia and that his health has never been the same.
Energy market monitor Genscape has been tracking the tanker Polar Discovery, which could hold up to 784,000 barrels of crude, as it heads from Alaska to Yeosu, South Korea, FuelFix reports, having determined from a ConocoPhillips spokesman that the company has made a rare deal to sell a cargo of North Slope crude in Asia in the fourth quarter.
The partnership between Qatar and Exxon Mobil in plans to export liquefied natural gas from the Golden Pass terminal in Texas is part of the Gulf nation’s strategy to maintain its status as a major player in the industry globally into the future, The New York Times reports.
The vision for Virginia’s energy future, to be made public by Gov. Terry McAuliffe Wednesday, will review the costs and benefits to the state from the Environmental Protection Agency’s rule to limit carbon emissions from existing power plants, E&E reports.
Without a nuclear waste repository, the waste can’t safely be disposed of and therefore the Nuclear Regulatory Commission shouldn’t issue any more licenses or renewals for nuclear power plants, environmental groups said Monday, filing a notice with the NRC of their intent to sue over the issue, The Hill reports.
Because Environmental Protection Agency actions regarding the Pebble Mine haven’t been finalized yet, federal courts don’t have jurisdiction to hear complaints about the matter, Judge H. Russel Holland ruled Friday, tossing out a lawsuit filed by Northern Dynasty Ltd., The Hill reports.
The U.S. Supreme Court isn’t due to make any rulings on high profile environmental cases this term, although it could still decide to take up a review of the Environmental Protection Agency’s air standards for hazardous pollutants, and several cases involving other agencies have the potential to affect EPA’s rulemaking, E&E reports.
BrightSource Energy and Abengoa Solar said Friday they won’t be going ahead with the proposed Palen solar project, in part because construction wouldn’t be finished by the end of 2016 and so it wouldn’t be eligible for the expiring 30 percent investment tax credit, The Desert Sun reports.
Oil prices increased Monday as refinery maintenance shutdowns have begun pushing gasoline prices higher. U.S. benchmark crude for November delivery jumped $1.03 to settle at $94.57 a barrel on the Nymex, while in London Brent crude inched up 20 cents to $97.20, Reuters reports.
Russian oil company Rosneft and its CEO Igor Sechin have announced a major discovery of oil and gas in the Arctic’s Kara Sea, where it has been exploring with the help of partner Exxon Mobil despite Western sanctions imposed over the Ukraine crisis, Platts reports.