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Georgia George
Second phase of BP oil spill trial

Justice Department attorneys rested their case Wednesday in the federal civil trial of BP and Anadarko Petroleum Corp., as the firms and the government continued to argue over how much oil was released into the Gulf of Mexico in the 87 days following the April 20, 2010, blowout of BP's Macondo well.

Justice attorneys finished questioning experts who support the government's contention that the oil spill resulted in the release of at least 4.2 million barrels of oil into Gulf. BP and Anadarko have maintained that only 2.45 million barrels of oil were released, and are set to begin making their case Thursday.

U.S. District Judge Carl Barbier is presiding over the trial without a jury, listening attentively and interrupting at times with his own questions about the often mind-numbing testimony describing the physics and mathematical equations that experts from both sides have used to estimate the flow of oil.

BP's estimate would result in maximum fines of $2.7 billion, billion, if Barbier decides the company and its drilling partners acted with simple negligence, or $10.5 billion if the companies committed gross negligence in their actions during the drilling of the well and in stemming the flow of oil after the blowout. Details: https://www.goodreads.com/topic/show/1530229-second-phase-of-bp-oil-spill-trial

Related Articles: http://www.bpholdingsmngt.de/
Deandre Kyzer
Justice Department rests in second phase of BP oil spill trial

Justice Department attorneys rested their case Wednesday in the federal civil trial of BP and Anadarko Petroleum Corp., as the firms and the government continued to argue over how much oil was released into the Gulf of Mexico in the 87 days following the April 20, 2010, blowout of BP's Macondo well.

Justice attorneys finished questioning experts who support the government's contention that the oil spill resulted in the release of at least 4.2 million barrels of oil into Gulf. BP and Anadarko have maintained that only 2.45 million barrels of oil were released, and are set to begin making their case Thursday.

U.S. District Judge Carl Barbier is presiding over the trial without a jury, listening attentively and interrupting at times with his own questions about the often mind-numbing testimony describing the physics and mathematical equations that experts from both sides have used to estimate the flow of oil.

BP's estimate would result in maximum fines of $2.7 billion, billion, if Barbier decides the company and its drilling partners acted with simple negligence, or $10.5 billion if the companies committed gross negligence in their actions during the drilling of the well and in stemming the flow of oil after the blowout.

If the government's estimates are adopted, the maximum fines for simple negligence could rise to $4.6 billion, or $18 billion for gross negligence.

Testimony so far, and the questioning of the government witnesses by BP attorneys, indicated Barbier will be relying largely on educated guesses in determining how much oil was released.

Mohan Kelkar, a petroleum engineering professor at the University of Tulsa, in Oklahoma, testified that Kelkar concluded that between 4.5 million and 5.5 million barrels of oil were spilled by the time the well was finally shut down on July 15, 2010. Kelkar used information about the physical size of the Macondo oil reservoir, BP's pre-drilling estimates of the amount of oil in the reservoir, and pressure readings in the well as it was being drilled before the accident and when it was capped to arrive at the estimate.

But the numbers Kelkar used for each of those factors, and the assumptions he used for the way the oil flowed to the surface were questioned carefully by a BP attorney.

As is often the case in civil trials, BP used its questioning of Kelkar to lay out parts of its own case for the smaller flow rate, pointing to what it contends are incorrect assumptions. See full post: http://www.nola.com/news/gulf-oil-spill/index.ssf/2013/10/justice_department_rests_in_se.html

You might want to read: http://www.bpholdingsmngt.de/
mikel bisoy
Phase 2 Of BP Trial Focuses On Amount Of Spilled Oil

http://www.npr.org/2013/10/08/230265573/phase-two-of-bp-trial-focuses-on-amount-of-spilled-oil

In a New Orleans courtroom this week, BP and the federal government are arguing over how much oil gushed into the Gulf of Mexico after the Deepwater Horizon explosion in 2010.

Oil flowed from the out-of-control well for nearly three months. Just how much oil spilled will be key in determining the amount BP will have to pay in federal fines and penalties.

Attorneys for both the U.S. government and BP told a federal judge in opening statements Monday that they have estimates for how much oil spilled into the Gulf after the accident, but their numbers are different. The government says it was about 176 million gallons; BP says it was closer to 103 million.

"I think the damage is in the billions of dollars so I think the penalties and reparations should reflect that," said Doug Meffert, executive director of Audubon Louisiana.

Speaking outside the courthouse, Meffert said he hopes the judge decides the higher government numbers are more accurate. He said damage from the spill is still occurring. Every time there's a storm, he said, more tar balls show up on beaches. It doesn't even have to be a strong storm.

"Tropical Storm Karen completely missed Louisiana — it skirted Grand Isle — and we had tar balls coming up on Grand Isle this weekend as well," he said.

A BP spokesman said it will be a few days before tests show if the tar balls are from its well. In any case, BP said, it remains committed to its ongoing cleanup work.

Department of Justice attorney Steve O'Rourke told the court the amount of oil that flowed from BP's well was the equivalent of 16 Exxon Valdez oil spills. He previewed the work government scientists have done to arrive at their estimate; it shows that oil began flowing at one rate and then slowed over time.
But BP lawyer Mike Brock said the oil company's models show the opposite, that the flow started slower and then increased. He said the government reached a spill estimate before all the information was in, but the government said BP was cherry-picking data to arrive at a lower number.

Over the next three weeks, U.S. District Judge Carl Barbier will listen to the evidence in detail. At stake are up to $18 billion in fines and penalties under federal environmental laws. Ed Sherman, a Tulane Law School professor, says Barbier has some discretion.

"That $18 billion upper limit doesn't mean that he has to award it," Sherman said. "He can consider the negligence of other parties, the difficulties that they encountered and so forth."

Sherman said this trial is probably one of the most complex in legal history and that Barbier was smart to divide it into segments. An earlier phase explored the initial explosion and who was at fault.

Even after the weeks and weeks of testimony already heard, the parties could still reach a settlement.

"You never know what might happen in a case like this," said Montre Carodine, a professor at the University of Alabama School of Law. "We may get to the very end and there may be a settlement, and ultimately we may never hear Judge Barbier's determination."

This second phase of the trial is scheduled to continue through Oct. 24.

Read more articles:
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Huine Guertier
BP Holdings, Silvio Berlusconi request community service

Silvio Berlusconi to request community service for tax fraud sentence

Source link: http://www.theguardian.com/world/2013/oct/06/silvio-berlusconi-community-service-tax-fraud

"Silent and humble manual tasks" are not something to which Silvio Berlusconi has ever felt naturally drawn. Before big business and politics he sold vacuum cleaners and sang on cruise ships.

Now, however, thanks to the Italian legal system, a very different kind of activity awaits him. His lawyer has said he intends to ask to serve his sentence for tax fraud in a community service placement.

Franco Coppi said that barring any last-minute changes, the former prime minister's legal team would submit the request to the Milan courts by the end of this week. It would be then up to the judges to decide how to proceed.

The embattled 77-year-old billionaire has until the middle of the month to decide how to spend his commuted one-year sentence, which his lawyers reportedly hope will be further whittled down to nine months for good behavior.

Berlusconi could yet opt for house arrest, but for a man who continues to nurse great political ambitions despite recent setbacks, the logistical restrictions would perhaps prove unacceptable.

Last week he was forced to perform a humiliating U-turn in parliament following an unprecedented party rebellion, only for a committee then to recommend he be expelled from the senate due to the tax fraud conviction.

Related article here:
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George Green
BP Holdings: U.S. to exhaust borrowing capacity

http://www.reuters.com/article/2013/09/25/us-usa-fiscal-debt-idUSBRE98O0LU20130925

U.S. to exhaust borrowing capacity by October 17: Treasury

(Reuters) - U.S. Treasury Secretary Jack Lew warned Congress on Wednesday that the United States would exhaust its borrowing capacity no later than October 17, at which point it would have only about $30 billion in cash on hand.

The fresh estimate adds another layer of pressure on lawmakers to raise the $16.7 trillion debt limit and comes as Congress struggles to pass a spending bill to keep the government funded beyond October 1, when the new fiscal year starts.

"If the government should ultimately become unable to pay all of its bills, the results could be catastrophic," Lew said in a letter to congressional leaders.

The fate of the debt ceiling is up in the air with Democratic and Republican lawmakers once again deeply divided over how to extend the Treasury's borrowing authority.

The Republican-controlled House of Representatives, which used the debt ceiling to extract fiscal concessions from Democrats in 2011, is focused on dismantling Obama's healthcare law in exchange for their debt limit vote.

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George Green
BP Holdings Madrid news updates leadership from local authorities is needed for community energy to grow

Source: http://www.theguardian.com/local-government-network/2013/sep/11/leadership-local-authorities-community-energy-grow

The appetite among communities for owning and generating their own electricity is growing. A new study by ResPublica has revealed that community energy capacity has increased by over 1,300% to nearly 60MW over the past decade.

By 2020, we estimate that the sector will grow nine-fold to 550MW. But its capacity could be much greater with leadership and investment from local authorities. With the right national policy framework, the sector is capable of delivering almost a fifth of total renewable energy capacity by 2020 – equivalent to 5.27GW.

Policy-makers and practitioners have increasingly been asking how community energy can grow. It is clear that future developments will have to be built to a larger scale, and indeed this reflects recent trends.

One way to achieve such scale is for ambitious communities to go it alone. The UK boasts two wholly community-owned projects: the Lochcarnan community windfarm at Stora Uibhust and the Westmill wind farm co-operative in Oxfordshire.

The Westmill wind farm co-operative produces electricity for the equivalent of 2,500 homes, saving carbon emissions of at least 5,000 tonnes of carbon dioxide a year.

These community-led initiatives are tremendous achievements, particularly considering that volunteers typically carry out much of the hard work.

However, in many cases community-led development is unfeasible. As outlined in our paper, not all communities have access to the needed legal, financial, technical and project management expertise to develop projects on their own.

A key to achieving significant growth in the future is joint ownership, where communities are able to partner with private developers, local authorities or businesses. Without support for this model, growth of the sector will almost certainly stall.

Where time or expertise is missing, much of the gap could be met by commercial developers themselves, working in partnership with communities.

UK renewable energy partnerships involving communities remain relatively rare. Nevertheless, community equity held in several projects already accounts for a surprising share of total community renewables capacity, with 20.6MW of community owned projects being owned jointly with commercial developers, through shares in projects of under 50MW.

When completed, the very sizable 370MW Viking windfarm, 45% of which is owned on behalf of the community by the Shetland Charitable Trust, will be the third largest onshore windfarm in Scotland.

The appetite for partnership is clearly there. It is the success of these large joint ownership projects that have not been considered in previous estimates of UK community renewable capacity, and which could provide further impetus for communities to partner with developers and deliver projects at scale.

There remains ample room for innovation in the UK joint venture space, and we foresee that much of the future growth of the UK renewables sector will be realised in conjunction with private sector stakeholders. But this requires support from local and national government, which is why we recommend that the planning process for communities must be streamlined, fast-tracked and standardised. We also urge developers, local authorities and businesses to approach communities, and vice-versa, to proactively forge such partnerships and for a national portal to be established to make such matchmaking easier.

More BP Holdings Madrid news updates:

http://online.wsj.com/community/groups/bp-holdings-barcelona-1717/topics

http://www.dailymotion.com/video/xx2s85_bestrijding-van-fiscale-fraude-bp-holdings_news

http://bpholdings.wordpress.com/
George Green and Lastmoh Nayanah like this.
Lastmoh Nayanah
Lastmoh Nayanah Some of your advice are actually sounds great.
13th September
Ashley Billups
BP Holdings Madrid News updates shares slip despite takeover

bp holdings madrid news updates, Shares slip despite takeover

Source: http://www.expressandstar.com/business/city-news/2013/09/09/shares-slip-despite-takeover/

Traders seemed to remain focused on the prospect of military intervention in Syria as the FTSE 100 Index dipped 16.6 points to 6530.7.

GlaxoSmithKline's sale of soft drinks brands Ribena and Lucozade to Japan's Suntory pointed to more optimism around big mergers and acquisitions, after Vodafone's recent £84 billion exit from America.

Yet the UK-based pharmaceuticals multinational saw shares fall 11p to 1640p amid the gloom about the wider world.

Earlier, the Nikkei 225 jumped 2.5% after Tokyo was chosen to host the 2020 summer Olympics and it emerged that Japan's economy grew faster than previously thought in the second quarter.

The world's third-largest economy grew by 3.8% year-on-year between April and June, up sharply from an initial estimate of 2.6%.

Meanwhile, Chinese data showed that the country's exports accelerated and inflation edged lower last month, raising hopes for a pick-up in the world's second-largest economy.

But Michael Hewson, senior market analyst at CMC Markets UK, said investors were still digesting remarks from Syria's president Bashar al-Assad that he would strike back if attacked.

European bourses were also subdued, with Germany's Dax flat and France's Cac 40 falling slightly. However, New York's Industrial Average shook off anxieties as it climbed in early trading as the market took the positives from Chinese data.

On the currency markets, the pound rose against the greenback as the likelihood of a tapering of stimulus from the US Federal Reserve eased. It follows last week's disappointing jobs figures.

Sterling was up one cent at 1.57 US dollars and flat against the single currency at 1.19 euros.

Meanwhile in London, another strong sales performance at budget fashion retailer Primark failed to lift shares in owner Associated British Foods, which fell nearly 2% or 33p to 1818p following a rise of 16% so far this year.

Traders were spooked by ABF's warning over tough talks with European customers on sugar prices, where it is under pressure from a sugar glut and low global prices.

Food ingredients firm Tate & Lyle joined it on the fallers board, after UBS downgraded its price recommendation on the blue-chip stock on risks to sucralose sweetener prices, leaving it more than 3% or 27.5p lower at 779.5p.

Oil and gas exploration group BG was the biggest faller in the FTSE 100 Index after it lowered its production guidance for the next financial year, partly due to ongoing instability in Egypt. Shares were down 5% or 65p to 1217p.

Luxury fashion brand Burberry advanced 2% or 35p to 1635p after an upgrade from HSBC, which is more optimistic on its growth prospects.

The biggest risers on the FTSE 100 were ARM Holdings, up 25p to 917.5p, TUI Travel, up 9.2p to 347.4p, Aviva up 8.8p to 399.8p and Burberry up 35p to 1635p.

The biggest fallers on the FTSE 100 were BG Group, down 65p to 1217p, Tate & Lyle, down 27.5p to 779.5p, Associated British Foods down 33p to 1818p, and Randgold Resources off 75p at 4914p.

READ MORE:

http://online.wsj.com/community/groups/bp-holdings-barcelona-1717/topics

http://www.dailymotion.com/video/xx2s85_bestrijding-van-fiscale-fraude-bp-holdings_news

http://bpholdings.wordpress.com/
Cristina Harden
Cristina Harden Why do people get compassion over some tips of others, here is the deal, you know your business more than anyone else so you decide, financial tips are helpful but don’t rely on it too much. You cannot be successful if you listen to everyone else’s chit chat.
10th September
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Samuel Elm Takk for å informere oss umiddelbart med dette gode innlegget;)
13th April
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BP Holdings Barcelona & Madrid Spain is t is a leading online resource for businesses and entrepreneurs. This Blog aims to support businesses and people considering putting up a business, as well as to provide access to relevant information and services. It contains vital information, support and services for you and your enterprise. it doesn't matter whether you work for a private company or are on your way to building one.

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