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Kiara Tobias

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Asia Global Energy Updates - BP and Shell Having a Fine Time in America
Sep 11, 2013

FINE TIME

A report from a former FBI director has concluded that BP has a bit of a case over its Deepwater Horizon payments. The energy giant had alleged fraud—kickbacks, to be precise—in the handling of payments from the fund set up to handle claims over the oil spill.

Louis Freeh said there may have been criminal fraud on the part of some lawyers overseeing payments. Such examples were isolated, Mr. Freeh said and, in a blow to BP, he has ruled there were no reasons why payments shouldn’t continue to be made.

BP has previously attempted to put a block on all payments pending Mr. Freeh’s conclusions. Having read them BP’s spokesman said the whole affair “underscores that neither BP nor the public has had any idea of what’s really going on” within the claims process.

BP has tried repeatedly and unsuccessfully to get the judge overseeing the case to change how the business economic loss claims are interpreted, The Wall Street Journal’s Tom Fowler says. Facing costs that are reaching far and beyond anything it had imagined, the company has tried to get the process started over, having already paid out more than $3 billion.

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