Spill May Hit Anadarko Hardest as BP’s Silent Partner
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BP Plc is battling a Gulf of Mexico oil spill, is a defendant in more than 100 lawsuits and is testifying before Congress about what caused an April 20 rig explosion and fire. Anadarko Petroleum Corp. may be taking the bigger financial hit.
Anadarko owns a 25 percent stake in London-based BP’s Macondo well, where the April 20 rig disaster killed 11 people and set off leaks spewing an estimated 5,000 barrels of oil a day into the sea. Anadarko, based near Houston, had no say in how the well was drilled.