Andarko 25% owner of Deephorizon Rig tries to Shirk from Oil Spill Responsibility by putting whole Blame on BP

Andarko Petroleum  is a 25% owner of the the Deephorizon Oil Rig which exploded recently leading to a huge ecological and economic disaster in the US Gulf region.British Petroleum(BP) the primary owner of the Oil Rig is facing a life and death situation as it has already agreed to provide $20 billion in damages.BP’s reputation is in tatters for its lies,deception and incompetence in handling of the issue.It has also come to light that BP might have  purposely ignored warnings about oil rig safety in order to save money.The other Oil Companies like Exxon and Chevron have also poor records with respect to the Environment and Renewable Energy.These companies have not changed their behavior  as they try to evade the huge negative publicity arising from the BP Oil Spill Disaster.With BP pretty much capitulating  to every demand,Andarko and Mitsui are now facing fire for their role as  part owners, with some US Senators calling upon these companies to pay up their share of the damages.

Anadarko, Mitsui Must Share Spill Costs, Markey Says – Bloomberg

Anadarko Petroleum Corp. and Mitsui & Co., partners with BP Plc in the leaking Gulf of Mexico oil well, should set aside money to pay a share of claims tied to the spill, U.S. Representative Edward Markey said today.The companies should be “contributing to any fund that is constructed for any part of the reconstruction,” Markey, a Massachusetts Democrat, said today in an interview for Bloomberg Television’s “Political Capital With Al Hunt” to be broadcast this weekend. “They cannot escape responsibility.”

Andarko Shirks Responsibility,Wants BP to foot the whole Bill

In typical style of these companies trying to limit their liability and shirk their responsibilities,Andarko is trying to deflect the whole blame on BP.Andarko has said that BP was responsible for the day to day operations of the rig and it was a non-operating partner.Note BP has also not taken any money from Mitsui and Andarko its 2 partners of the DeepHorizon Rig in setting up the $20 Billion Escrow Fund.Andarko was happily raking in its share of the 25% profits but wants to take no part in the losses.That does not make a lot of sense to me.In fact Andarko is thinking of seeking legal action against BP for its negligence of safety rules.Wonder what took Andarko so long to find out about these safety lapses considering it had a not so insignificant 25% stake in the Rig.I think Andarko’s shareholders should be looking to file some lawsuits against the Andarko management as well for negligence as well.

Note Andarko’s share is already down 42% and its debt has been downgraded by Moody’s as the Market does not think that Andarko can talk its way out of paying its share of the compensation.

BP partner blasts company for ‘reckless decisions’ leading to Gulf oil spill – Haaretz

Anadarko Petroleum Corp., which owns a quarter of BP PLC’s blown-out oil well in the Gulf of Mexico, late Friday blasted BP reckless decisions and actions that led to the well’s explosion.Anadarko Chairman and CEO Jim Hackett’s statement came after some elected officials said Anadarko should help pay for the massive cleanup and spill-related claims. Company spokesman John Christiansen said the comments were in response to a week’s worth of testimony and other information and data compiled on the disaster.

“The mounting evidence clearly demonstrates that this tragedy was preventable and the direct result of BP’s reckless decisions and actions,” said Hackett in the statement. “We recognize that ultimately we have obligations under federal law related to the oil spill, but will look to BP to continue to pay all legitimate claims as they have repeatedly stated that they will do.”The information disclosed this week indicates BP operated unsafely and failed to monitor and react to several critical warning signs during the drilling the statement continued. BP’s behavior and actions likely represent gross negligence or willful misconduct.BP chief executive officer Tony Hayward said in a statement that the company strongly disagreed with the allegations.These allegations will neither distract the company’s focus on stopping the leak nor alter our commitment to restore the Gulf coast, Hayward said. Other parties besides BP may be responsible for costs and liabilities arising from the oil spill, and we expect those parties to live up to their obligations.

Anadarko downgraded after BP Gulf oil spill – AP

Anadarko Petroleum Corp., which owns a quarter of BP PLC’s blown-out oil well in the Gulf of Mexico, had its debt downgraded late Friday amid a heated dispute over BP’s operation of the well.Moody’s Investor Services downgraded Anadarko long term debt, and placed the company’s ratings under review for further possible downgrades. Anadarko criticized Moody’s downgrade, which dropped the company’s debt rating from Ba1 from Baa3.”Although we understand the concern over uncertainty surrounding the current situation, we believe it is too early in the process for Moody’s to take this action,” Anadarko Chief Financial Officer Robert Gwin said in a statement.