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Tag Archives: Oil

Bryant hires ex-MDEQ leader Fisher as consultant

JACKSON — Gov. Phil Bryant has hired the former director of the Mississippi Department of Environmental Quality as a consultant. The contract with Trudy Fisher, dated Sept. 5, says she will advise the governor on energy policy, environmental and restoration policy and provide support in court cases. The agreement is good for six months and can be renewed for six ...

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Treasury okays rule for dividing oil spill recovery trust funds

GULF COAST — The U.S. Treasury Department says it has cleared the way for Gulf Coast state and local governments to begin applying for recovery grants through a federal RESTORE Act trust fund fed with civil penalties arising from the 2010 BP oil spill. A department statement says that, so far, the trust fund has $653 million. That figure is ...

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Ergon expanding Vicksburg refinery, spending $150M

VICKSBURG — Ergon Inc. says it will spend $150 million to expand its Vicksburg refinery. The Flowood-based private company said yesterday that it would enhance parts of the refinery and expand its tank farm. It said the changes, in addition to allowing it to make more products, would allow Ergon to feed the refinery with more kinds of crude oil. ...

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Midla strikes agreement in principal on aging pipeline

NATCHEZ — American Midstream Midla, LLC, a subsidiary of American Midstream Partners, LP, has reached an agreement in principle regarding Midla’s interstate pipeline that traverses Louisiana and Mississippi. Parties involved reached the agreement in principle in order to provide continued service to Midla’s customers while addressing safety concerns with the existing pipeline. Midla and the parties agreed that Midla may ...

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Callon Petroleum stock sale for acquisitions raises $122M

NATCHEZ — Callon Petroleum Co. has raised $122 million from a stock sale, with plans to use the proceeds to pay for new oil and gas properties it plans to buy in the Permian Basin of west Texas. The Natchez-based company announced it has sold 14.38 million shares at $9 per share, paying about $7 million for an underwriters’ discount ...

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Callon Petroleum to sell shares to fund acquisition in Texas

NATCHEZ — Callon Petroleum Company is selling stock to pay for new oil and gas properties it plans to buy in the Permian Basin of west Texas. The Natchez-based company will sell 12.5 million shares, giving the brokerages underwriting the sale the option to buy up to another 1.875 million shares. At current prices, Callon could net more than $130 ...

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BP possibly facing another $18B in fines after Barbier's oil spill ruling

NEW ORLEANS — BP could be looking at close to $18 billion in additional fines over the nation’s worst offshore oil spill after a federal judge ruled yesterday that the company acted with “gross negligence” in the 2010 Gulf of Mexico disaster. U.S. District Judge Carl Barbier concluded that the London-based oil giant showed a “conscious disregard of known risks” ...

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Judge rules BP's 'reckless conduct' caused 2010 Gulf oil spill

NEW ORLEANS — A federal judge has ruled that BP’s reckless conduct resulted in the nation’s worst offshore oil spill, leaving the company open to billions of dollars in penalties. U.S. District Judge Carl Barbier’s ruling today could nearly quadruple the amount of civil penalties for polluting the Gulf of Mexico with oil from BP’s Macondo well in 2010. Barbier ...

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Treasury Department sets rules for BP oil spill money

GULF OF MEXICO — The U.S. Treasury has set out 97 pages of rules for investing and allocating money that BP PLC and other defendants will pay in Clean Water Act fines for the Gulf of Mexico oil spill of 2010. The rules released yesterday formally set up a trust fund for money that state and local governments will get ...

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BP wants Supreme Court to toss part of oil spill settlement plan

NEW ORLEANS — BP PLC has asked the U.S. Supreme Court to throw out part of its settlement of claims for damage from its enormous oil spill in 2010 — a section saying businesses don’t have to prove that the spill directly harmed them to be eligible for payment, only that they lost money afterward and recovered in 2011. Claims ...

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