BP partner Anadarko refuses oil spill billv

[dipsydoodle]

Source: BBC News

One of BP's partners in the deepwater well which exploded in April - leading to the oil spill in the Gulf of Mexico - has refused to pay its share of the costs so far.

Houston-based Anadarko, which owns 25% of the Macondo well, was asked to pay $272m (£180m) by BP.

But an Anadarko spokesman said it was going to withhold payment.

BP said it was "disappointed" that firm had "failed to live up to their obligations".

Read more: http://news.bbc.co.uk/1/hi/business/10581968.stm

[glinda]

1. Hehe. Is this a set up to start to declare bankruptcy?

[dipsydoodle]

2. Hardly

May just have some bearing on input to the escrow account though.

[Nihil]

3. Hehe. You've just lost 25% of your compensation fund.

Not quite so funny now is it?

Still, I suppose it's alright really as it's a Houston company that is holding
back the money.

[dipsydoodle]

4. An often overlooked fact here.

Whatever currently harms BP financially affects their abilty to fund the escrow account which is volantary anyway given there was no foundation for them to being made to do so. That account was a necessary goodwill gesture.

[Nihil]

5. What a surprise ...

... in contrast to most (if not all) of the other BP threads,
this one is remarkably quiet ...

Denial is not just a river in Egypt ...