fbpx
News
October 6, 2015

BP Reaches $20.8 Billion Settlement with U.S. Government, Five Gulf States

The U.S. Department of Justice announced that the value of BP’s settlement with the U.S. government and five Gulf states has reached $20.8 billion.

This settlement “resolves the government’s civil claims under the Clean Water Act and Oil Pollution Act, as well as economic damage claims from regional authorities,” according to the DoJ announcement.

The company’s total settlement cost of $18.8 billion announced in July reportedly didn’t include some reimbursements, interest payments and other expenditures. The new settlement amount includes “$700 million for injuries and losses related to the spill that aren’t yet known, $232 million of which was announced earlier. It also adds $350 million for the reimbursement of assessment costs and $250 million related to the cost of responding to the spill, lost royalties and to resolve a False Claims Act investigation.”

Read the full story here.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Review Settings