Gulf of Mexico Oil Spill Blog Anadarko Petroleum

Anadarko Petroleum

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Anadarko CEO: Still Believes BP Is Liable For Gulf Spill Despite New Information

HOUSTON (Dow Jones)–Anadarko’s Petroleum Corp. (APC) hasn’t changed its view that the Deepwater Horizon oil spill in the Gulf of Mexico was a direct result of BP PLC’s (BP) actions, the company’s top executive said Friday.

Speaking to analysts in a webcast conference call, Chief Executive Jim Hackett said the company maintains its position from June that the oil spill was preventable and the direct result of BP’s reckless decision and actions. It said its contract with BP contains a clause limiting its liability if gross negligence is demonstrated.

The remarks come days after a lead investigator for a presidential commission on the spill said in a public presentation that BP didn’t deliberately cut corners on safety. Some analysts saw the investigator’s comments as an indication that the chances are low that BP will be found grossly negligent and responsible for 100% of the costs.

Our statement “stands despite what has come out of whatever source you can think of, we don’t find any of that is at all determinant with regard to our position changing,” Hackett said.

BP has paid all the expenses from the spill, but it’s seeking payment from all companies involved in the joint venture. Houston-based Anadarko has a 25% stake in the Macondo well while Japan’s Mitsui & Co. (8031.TO) has a 10% stake.

BP recently said it will charge interest on the $4.3 billion it says both companies own it.

The spill, one of the largest in U.S. history, occurred after a rig leased by BP burned and sanked in late April, killing several workers.

-By Isabel Ordonez, Dow Jones Newswires; 713-547-9207;

source: Anadarko CEO: Still Believes BP Is Liable For Gulf Spill Despite New Information –

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