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US Issues Five New Citations To BP

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By Douglas A. McIntyre Published
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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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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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