Oil and Gas

Despite what was said at a coastal forum in New Orleans last month, oil and gas insiders contend a settlement is not in the stars for the massive lawsuit filed against nearly 100 energy companies by the Southeast Louisiana Flood Protection Authority-East.

BP hail carousel 2Environmentalists, fishermen and others are celebrating a federal judge's ruling that could mean $18 billion in additional fines for BP over the nation's worst oil spill.

U.S. District Judge Carl Barbier's ruling Thursday could nearly quadruple the amount of civil penalties for polluting the Gulf of Mexico with oil from BP's Macondo well in 2010.

Halliburton's agreement to pay more than $1 billion to settle numerous claims involving the 2010 BP Gulf of Mexico oil spill could be a way for the company and victims of the spill to avoid years of costly litigation — if all the pieces fall into place.

BP says it recently obtained correspondence between Patrick Juneau's Lafayette law firm and the Gulf Coast Claims Facility showing he argued for liberal compensation, flexible documentation requirements and other terms that would help Louisiana claimants at BP's expense.

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