Friday, July 9, 2010

Anadarko (NYSE:APC) Tells BP (NYSE:BP) Won't Pay Oil Spill Bill

Even though Bp (NYSE:BP) continues to send their partner in the Macondo oil well, Anadarko Petroleum (NYSE:APC), bills for the Gulf oil spill, Anadarko continues to tell them they aren't going to pay anything because it was recklessness on the part of BP which led to the disaster.

Anadarko has a 25 percent stake in the Macondo well, and Japan-based Mitsui has a 10 percent stake, with BP holding the remaining 65 percent of the project.

So far the liability Anadarko has from BP's viewpoint is over $270 million.

According to Anadarko spokesman John Christiansen, he said on Friday that the company let BP know there would be no payment coming their way.

The agreement between the two companies does show Anadarko would have to pay for 25 percent of the costs.

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