[BITList] nasty

[s14engine]

nasty turn of events!

ct

[anadarko is based in houston]

    DOW JONES NEWSWIRES  Anadarko Petroleum Corp. (APC) late Friday called the oil spill in the Gulf of Mexico "preventable and the direct result of BP's reckless decisions and actions," allegations that BP PLC (BP, BP.LN) immediately rejected. 

The public sparring came as Moody's Investors Service downgraded the oil producer's ratings to junk territory, citing uncertainty about its possible 25% share of the cleanup costs and financial liabilities resulting from the spill. 

BP said it strongly disagreed with Anadarko's comments but it repeated its promise to clean up the spill and pay all legitimate claims arising from it. 

Anadarko's statement comes one day after BP Chief Executive Tony Hayward said before a congressional committee that its minority partners in the well--Anadarko and Mitsui Oil Exploration Co.--were also responsible parties. 

BP operated the Deepwater Horizon well that exploded in April, resulting in the deaths of 11 people and creating the worst environmental disaster in the Gulf of Mexico. Anadarko told Dow Jones Newswires earlier this week that it had received a bill from BP for its share of the cleanup effort. 

In a statement, Anadarko Chairman and Chief Executive Jim Hackett said recently disclosed information and testimony before Congress this week "indicates BP operated unsafely and failed to monitor and react to several critical warning signs during the drilling" of the well. 

"BP's behavior and actions likely represent gross negligence or willful misconduct and thus affect the obligations of the parties under the operating agreement," he added. 

Although there was some finger-pointing between BP and service companies working for it at the time of the explosion--Transocean Ltd. (RIG) and Halliburton Co. (HAL)--this is the first time Anadarko publicly criticized its partner in the well. 
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