9 years ago
BP Pays Record $18.7 Billion to Settle Claims in Gulf Oil Spill
BP Plc reached a record $18.7 billion agreement to settle all federal and state claims from the 2010 Deepwater Horizon oil spill after an abrupt strategy shift in May to re-open talks, according to three people close to the matter. The company had been committed to fighting the claims in court after negotiations fell apart in 2013. But falling oil prices and a federal judge’s recent rulings putting a potential $13.7 billion price tag on Clean Water Act violations...
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