BP recently announced plans to raise its dividend by 14 percent up to 8.0 cents per share for the fourth quarter of 2011, making it the first rise since the company resumed paying out dividends about a year ago. The company also boasted of a major new oil and gas development it is undertaking in the Gulf of Mexico with partners Chevron and BHP. This new project, called the Mad Dog field, is expected to be “…one of the largest new free-standing developments in the Gulf of Mexico”, according to BP Chief Executive Bob Dudley. While BP prepares to continue drilling operations in the Gulf, the criminal trial stemming from the April 20, 2010 explosion of the Deepwater Horizon rig and subsequent oil spill is set to begin on February 27 in New Orleans.

If you or someone you love was hurt or killed in an offshore accident, contact an experienced Maritime Lawyer at Zehl & Associates today for a free, confidential consultation: 1-888-302-3838.

Source: AFP and Reuters


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