This is just one of the four Gulf of Mexico platforms on which BP has staked its future in U.S. oil production.
Exports in the amount of 1.8 billion cubic feet per day (Bcf/d) of natural gas are approved from Delfin LNG's proposed offshore Louisiana floating terminal, the Department of Energy said.
This is the first comprehensive appraisal of the financial value of the natural resources damaged by the 134- million-gallon Deepwater Horizon oil spill disaster on April 20, 2010 that killed 11 people.
That caution reflects a firm chastened by the USD 55 billion cost of its 2010 Gulf of Mexico spill, and needing to squeeze every last drop out of a sharply reduced exploration budget at a time of low oil prices.
The US Bureau of Safety and Environmental Enforcement (BSEE) said a 2 mile by 13 mile (about 3 km by 21 km) sheen was visible in the sea about 97 miles off the Louisiana coast.
Mining companies Vale SA and BHP Billiton were hit with a $43.5 billion civil lawsuit for the collapse of a dam at a mine last year that killed 19 people and caused damage
The company was awarded a contract to supply 457mm OD x 28.6mm WT API 5L PSL2 X65MO line pipe from its large diameter 42" Double Submerged Arc Welded (DSAW) mill in Hartlepool, UK for the development.
The settlement, first announced in July, includes USD 5.5 billion in civil Clean Water Act penalties and billions more to cover environmental damage and other claims by the five Gulf states and local governments.
Two rivers west of St. Louis crested at historic levels, flooding local towns, disabling sewer plants and forcing the evacuation of hundreds of residents.
The settlement is significantly higher than a previously announced deal in which BP was set to pay USD 18.7 billion to resolve claims from US government entities.
The takeover ends a pursuit stretching back to January and marks the first major buyout of a midstream company since oil prices crashed. It will create one of the world's largest energy infrastructure companies, alongside Kinder Morgan Inc. and Enterprise Products Partners.
The company also lowered its expected full-year organic capital spending to below USD 20 billion after cutting it by 13 percent earlier this year as the industry continues to grapple with low oil prices.
An explosion at the deepwater horizon oil rig cost 11 lives and resulted in 4.2 million barrels of oil spewing into the gulf over 87 days. BP will pay the penalty over a span of 18 years.
Brent August crude declined 18 cents at USD 63.69 a barrel after it settled 17 cents higher on Wednesday at USD 63.87.
El NiÃ±o also reduces the likelihood of a busy hurricane season, which lasts from June to November and can disrupt energy operations in the Gulf of Mexico.
Under the head 'Divestitures', the company said it made net gains of USD 1.891 billion from sale of stakes in 2014.
The fundraising comes as other private equity firms such as Blackstone Group LP and Silver Lake Partners LP take between four to six years on average to spend their investors' money in global funds of similar size.
BP said it would appeal Thursday‘s ruling by US District Judge Carl Barbier in New Orleans, Louisiana, who held a trial without a jury last year to determine who was responsible for the April 20, 2010 rig explosion and spill that killed 11 workers and spewed oil for nearly three months onto the shorelines of several states.
Monday's decision is a setback for BP's effort to limit payments over the April 20, 2010, explosion of the Deepwater Horizon drilling rig and rupture of BP's Macondo oil well.
Tropical Storm Karen had prompted producers to shut in nearly two-thirds of oil output in the Gulf of Mexico. But it was downgraded to a tropical depression late on Saturday, with production starting to return to normal by the end of the weekend.
Brent crude oil slipped below USD 112 per barrel on Wednesday as Hurricane Isaac, which hit land in Louisiana, left U.S. Gulf Coast oil production facilities without significant damage.
State-controlled CNOOC Ltd launched China's richest foreign takeover bid yet on Monday by agreeing to buy Canadian oil producer Nexen Inc for USD 15.1 billion, forcing Ottawa to decide whether security concerns outweigh its desire for foreign investment in its energy resources.
Brent oil rose above USD 91 per barrel on Monday as a storm threat shut a quarter of US offshore crude and gas output, while an improved demand outlook after euro zone leaders backed a plan to revive the region's growth also aided prices.
BP PLC has reached an agreement with counsel for plaintiffs suing over the massive 2010 Gulf of Mexico oil spill, according to a court order on Friday.
The trial to decide who should pay for the massive 2010 Gulf of Mexico oil spill has been delayed by one week, to allow BP Plc to try to cut a deal with tens of thousands of businesses and individuals affected by the disaster.