Wednesday, July 14, 2010

Mitsui Tells BP (NYSE:BP), We're Not Paying Bill

It seems Mitsui is following suite with Anadarko telling BP (NYSE:BP), we're not paying the bill. BP sent the bill last month requesting $111 million for oil cleanup costs and legal claims associated with the spill.

Mitsui owns a 10 percent stake in the Macondo well, Anadarko's stake is 25 percent. Normally all companies owning a stake in a well are required by law to pay their share, if there is an oil spill. It will be some time before BP sees any money from their partners. They are claiming legally they are absolved from all financial responsibility. Due to the fact BP was negligent and reckless in their behavior. Leading up to the explosion and resulting in the sinking of the Deepwater Horizon.

A Mitsui spokesman said while the cause of the accident continues to be investigated by the government, they are issuing an independent review into the reimbursement claims. He said,
" Therefore, we are withholding reimbursements of BP's invoices, other than with respect to the non-incident costs at this time."

BP spokesman, Andrew Gowers said, " We are disappointed that they too are failing to live up to their responsibilities. We won't be distracted from fulfilling our own." Gowers wouldn't comment on weather BP would try and force them to pay. He did say, if the company wanted to pursue such an act, according to the joint operating agreement, they would have to pursue any disputes through an outside arbitrator.


  1. Three liars in white shirts
    Black oil spill still streaming
    Thirteen weeks of hurts
    Never stopped me dreaming

    BP's going broke
    it's going broke
    it's going
    BP's going broke!

    (melody: "Three Lions", the hymn of the English soccer team)

  2. you mean whether where you say weather.