Category : Industry Date : Aug-10-2010 09:48 A US Justice Department official stated that negotiations with BP have ended.This is in order to ensure that the oil company follows through on a commitment.It is to establish a $20 billion compensation fund for victims of the Gulf oil spill.Meanwhile, the official calls the end of negotiations a vital step for BP to honor the promises it made regarding the fund.The Obama administration, however, looks forward to finish a security agreement with BP.This is so that all necessary funds will be there. On the other hand, the security agreement is necessary.It is in case something was to happen to a company subsidiary that established the trust.Earlier, it was said that as per the court documents oil major BP has filed a lawsuit against six of its former employees of its global fuel oil and Asia bunker team. Legal action is been taken against them who had quit the job since the end of May for breach of contract.When enqu...
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