Energy

John Gapper

Ah, well. It was nice while it lasted for BP. Having gained one legal victory from appeals court judges in Louisiana in its battle to contain compensation for the 2010 Deepwater Horizon disaster, it has lost a broader case.

This round in BP’s effort to overturn the class action settlement it originally agreed – on the grounds that it has turned out to compensate many people and businesses that were not actually damaged by the spill – was thrown out by the Fifth Circuit on Friday.

The judges’ ruling (by a two-to-one majority) was simple enough. Read more

Life can be unfair and it often feels unfair even when it is not. Both JPMorgan Chase and UK energy companies such as Centrica know this feeling.

Andrew Hill

As Britain agrees to build the country’s first nuclear power plant in a generation, it is chastening to learn just how bullish everybody was about British nuclear energy on the eve of the opening of Calder Hall – the UK’s first nuclear power station – 57 years ago. Read more

John Gapper

Score one for the Louisiana legal system. BP has gained a notable, and rather unexpected, victory in the US appeals court in New Orleans over Patrick Juneau, the administrator of claims for damages relating to the 2010 Deepwater Horizon disaster.

BP went to court over the way Mr Juneau interpreted its settlement with businesses claiming compensation. It argued that he was allowing loose claims by businesses that happened to suffer a dip in revenues after the spill simply because of cashflow anomalies. Read more

Not since Barings financed the Louisiana Purchase on behalf of Thomas Jefferson in 1803 has a UK enterprise had so much money riding on the Gulf of Mexico state. It isn’t working out as well for BP as for the former merchant bank.

Andrew Hill

Ben van Beurden’s elevation to chief executive of Royal Dutch Shell doesn’t look that surprising to me. Granted, he wasn’t in the list of frontrunners, but a 55-year-old white Dutch male who has spent the past 30 years at the company is hardly a leftfield appointment. Read more

The saga of Florida’s “hanging chads”, which prolonged the disputatious US presidential race of 2000 well beyond polling day, also left corporate America hanging.

John Gapper

The likely end of BP’s tempestuous, yet profitable, partnership with a group of Russian oligarchs in TNK-BP is a moment to tot up the costs and benefits. Financially, it came out on top, but it certainly suffered along the way.

I’ve kept an interested eye on TNK-BP since writing about the energy venture in 2003, when it was formed. I judged then that it was worth it for BP to risk being stitched up by its new partners (the article is not online): Read more