The U.S. Supreme Court has rejected a request by shareholders of BP plc to revive a class action lawsuit that asserted the oil major misrepresented safety procedures before the Macondo blowout in April 2010(Ludlow, et al. v BP plc, et al., No. 15-952). The high court affirmed a September 2015 decision by the U.S. Court Appeals for the Fifth Circuit in New Orleans, which refused to certify a petition filed by investors that bought shares up to 2.5 years before the tragic incident. BP had argued that the lawsuit should not proceed because the plaintiffs improperly were seeking damages for the entire decline in the share price as a result of the incident. The appeals court said some investors might have bought stock knowing the risks, and ruled that investors could sue BP individually. The appeals court also in the ruling allowed a lawsuit by investors to move forward concerning shares that were bought after the incident.
The Colorado state senate has passed a bipartisan resolution to support development of the Jordan Cove liquefied natural gas export terminal and related Pacific Connector transmission pipeline, recognizing their value helping to find long-term Pacific Asian markets for the state’s natural gas reserves. The Colorado Oil and Gas Association (COGA) and its West Slope chapter noted the support mirrors that of Gov. John Hickenlooper and Colorado’s congressional delegation. COGA CEO Dan Haley said Jordan Cove “transcends” partisan divides, and David Ludlam, West Slope COGA leader, said the resolution “further unites” Colorado and Oregon with important U.S. allies in the Asian markets.
Dominion Cove Point LNG LP(DCP) has asked FERC for authorization to begin service on or before June 1 on its St. Charles Transportation Project [CP15-22]. At the end of 2014 DCP filed an application at the Federal Energy Regulatory Commission seeking authorization for St. Charles Transportation, which will provide 132,000 Dth/d of incremental firm transportation service to CPV Maryland LLC‘s 725 MW St. Charles Energy Center in Charles County, MD. DCP added electric compression capacity at its existing Pleasant Valley Compressor Station in Fairfax County, VA, and installed pipeline taps (see Daily GPI, Dec. 3, 2014).
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