Last week when BP (NYSE:BP) would go on record at a court hearing about waiving the liability cap instituted via the Oil Pollution Act of 1990, it caused a mini uproar and confusion after they had publicly stated in the past they would waive the restrictions.
That changed today and clarity was brought to the situation as BP said in a court filing they would indeed waive the liability cap.
Also per the filing, BP was generous with their advice for other major players in the Gulf spill, encouraging Transocean Holdings LLC (NYSE:RIG), Anadarko Petroleum Corp (NYSE:APC) and MOEX Offshore 2007 LLC to also waive the cap.
MOEX is the majority owner of Mitsui (Nasdaq:MITSY), which has a 10 percent stake in the Macondo oil well. Anadarko has a 25 percent stake and BP the remaining 65 percent. Transocean owned the Deepwater Horizon oil rig which was leased by BP from them.
Also in the filing BP stated it has reserved the right to go after reimbursement for money it has already paid from its partners. Much of that remains to be decided based on whether they are designated as being grossly negligent in the matter.
If they are, the other participants and owners probably won't have to pay damages to BP.
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BP has approved the launch of its new BPCares website. In an effort to control the PR narrative and to blunt the aggressive pressure from the BPAMA, retail marketers and independent retailers…BP will fast track the launch of the BPCares website. The website is expected to show the oil giant as deeply concerned about the environment and its eco-friendly legacy.
The domains that BP owns are:
BPCares.com
BPCares.net
BPCares.org
BPCares.info
BPCares.us
BPCares.biz
It seems that BP is teaming up with Southern states websites in advance of the BPCares launch.
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