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Cables leaked on December 15, 2010 claim that the president of Azerbaijan accused BP of stealing $10bn of oil from his country and using "mild blackmail" to secure the rights to develop vast gas reserves in the Caspian Sea region. The cables reveal that some of BP's partners in the gas field were upset that the company was so secretive about the incident that it even allegedly withheld information from them. They also say that BP was lucky that it was able to evacuate its 212 workers safely after the incident, which resulted in two fields being shut and output being cut by at least 500,000 barrels a day with production disrupted for months. Embassy cables reveal energy firm 'fortunate' to have evacuated workers safely after blast similar to Deepwater Horizon disaster. Striking resemblances between BP's Gulf of Mexico disaster and a little-reported giant gas leak in Azerbaijan experienced by the UK firm 18 months beforehand have emerged from leaked US emb...

Big Oil is ready to go back to work in the Gulf of Mexico , even with the U.S government promising to rule the waters with a heavier hand. Chevron, Exxon, Royal Dutch Shell are willing to endure the additional time to secure permits and extra costs that will result from new government regulations because they've come to depend on deepwater drilling to replenish their reserves. The companies outlined plans for the Gulf this week as most of them reported improved earnings for the third quarter. These big oil and gas companies know the geology of the Gulf much better than other parts of the world. Taxes and royalties for projects in U.S. waters are considered to be much lower than foreign operations, and it's much easier and cheaper to deliver the oil to the consumer. "It's one-stop shopping," said Fadel Gheit, an analyst with Oppenheimer & Co. "When you're working in the Gulf, you're sitting in the belly of the largest energy-consuming economy ...