US regulators issued five new safety violations to BP plc (NYSE: BP) The actions were in reaction to the Deepwater Horizon accident of nearly 20 months ago which sent an oil slick over much of the Gulf of Mexico which reached beaches from Louisiana to Florida.
According to Reuters:
The latest set of government citations for BP come on top of seven “incidents of noncompliance” that the U.S. Bureau of Safety and Environmental Enforcement handed out to the company in October.
Hallliburton (NYSE: HAL) offered a legal challenge to BP claims that its own safety violations helped cause the catastrophe. The three major players in the explosion–BP, Halliburton, and Transocean (NYSE: RIG) continue to trade charges among them about responsibility.
BP has set up a $20 billion fund to settle claims from the Deepwater Horizon. The money has also been used for clean up. So far less than half of the fund has been tapped and BP could eventually get some of the funds back
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