World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill Claims
Keywords:
BP makes a final settlement with the states and the U.S. government for the Gulf oil spill. Of the $18.7 billion settlement in July 2015, the Clean Air Water Act penalty is $5.5 billion, the Natural Resource Damages are $7.3 billion, the 400 local government claims are $1 billion, the economic claims to 5 states are $4.9 billion, according to BP. Most of the money goes to the states of Louisiana, Mississippi, Alabama, Texas, Florida, for environmental improvement and economic development. Louisiana gets $6.8 billion. The settlement comes after court rulings went against BP. BP chairman Carl-Henric Svanberg, says it provides -" A path to closure for BP and the Gulf. It resolves the last remaining legal exposures, provides clarity on costs." BP shares were up 5.1%, and Fitch Ratings say this strengthens its ratings. For BP this adds $10 billion in cost to $44 billion already incurred for legal and cleanup costs.
A potential BP bankruptcy after the Deepwater Horizon rig Gulf oil spill
07/09/2010
The impact of large liability claims creates the possibility of bankruptcy.
Grouped Articles
BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill Claims
Wall Street Journal 07/03/2015
BP Faces Up to $13.7 Billion in Fines in Deepwater Gulf Spill Case
Wall Street Journal 07/03/2015
Weighing the Possibility of Bankruptcy for BP
New York Times 07/09/2010
BP May Avoid Gross Negligence Conviction Over Gulf Oil Spill
Wall Street Journal 09/14/2011
Closing the Gulf in BP's Valuation
Wall Street Journal 09/15/2011
BP Shortcuts Led to Gulf Oil Spill, Report Says
New York Times 09/14/2011
BP asset sales to meet legal liabilities from the Deepwater Horizon rig Gulf oil spill
07/12/2010
BP's oil spill fund, asset sales and legal liabilities.
Grouped Articles
BP Says Spill Fund Is Running on Fumes
Wall Street Journal 07/30/2013
BP Mulls Selling Billions in Assets
Wall Street Journal 07/12/2010
BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill Claims
Wall Street Journal 07/03/2015
BP Faces Up to $13.7 Billion in Fines in Deepwater Gulf Spill Case
Wall Street Journal 07/03/2015
BP Results Still Hurt by Gulf Spill B1
Wall Street Journal 04/28/2016
BP to Sell Natural Gass Unit for $1.67 Billion
New York Times 12/02/2011
The BP Deepwater Horizon rig Gulf oil spill trial in 2013 after the failure to reach an agreement with the U.S. Justice Department
02/19/2013
Grouped Articles
BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill Claims
Wall Street Journal 07/03/2015
Battle Lines Drawn for BPâs Day in Court
New York Times 02/19/2013
BP Faces New Bout of Spill Liability
Wall Street Journal 03/03/2013
Bob Dudley: Three Years After the Spill, BP Gets Bullish
Wall Street Journal 03/15/2013
BP and legal liabilities from the Deepwater Horizon rig Gulf oil spill
01/07/2011
BP's oil spill fund and legal liabilities.
Grouped Articles
BP Says Spill Fund Is Running on Fumes
Wall Street Journal 07/30/2013
BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill Claims
Wall Street Journal 07/03/2015
BP Faces Up to $13.7 Billion in Fines in Deepwater Gulf Spill Case
Wall Street Journal 07/03/2015
BP Gets Lift From Oil-Spill Report
Wall Street Journal 01/07/2011
Not-Quite-New BP Faces Old Challenges
Wall Street Journal 02/02/2011
Halliburton: BP Hid Gulf Disaster Details
Wall Street Journal 09/03/2011
BP's $4.5 billion legal settlement with the U.S. Justice Department on the Deepwater Horizon rig Gulf oil spill
11/15/2012
The Justice Department took a different approach to the settlement by indicting three BP managers for improper conduct during the Gulf Oil Spill. This was meant to act as a deterrent to other company managers in such situations. BP's oil spill fund and legal liabilities.
Grouped Articles
BP Says Spill Fund Is Running on Fumes
Wall Street Journal 07/30/2013
New York Times 09/29/2014
BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill Claims
Wall Street Journal 07/03/2015
BP Faces Up to $13.7 Billion in Fines in Deepwater Gulf Spill Case
Wall Street Journal 07/03/2015
BP to Pay $18.7 Billion for Deepwater Horizon Oil Spill
New York Times 07/02/2015
BP Results Still Hurt by Gulf Spill B1
Wall Street Journal 04/28/2016
BP's $18.7 billion settlement with states and the U.S. government in July 2015- giving "a path to closure for BP and the Gulf"
07/02/2015
This is the final settlement with states and the U.S. government, bringing costs related to the spill to $54 billion. For BP it helps close the chapter of the Gulf Spill. The $18.5 billion will be paid out in annual payments of $1.1 billion over 18 years, with most of the payment deductible from taxes. After courts had ruled against BP this provides clarity and certainty on costs for investors. It strengthens BP's credit ratings.
Grouped Articles
BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill Claims
Wall Street Journal 07/03/2015
BP to Pay $18.7 Billion for Deepwater Horizon Oil Spill
New York Times 07/02/2015
Judge Barbier's decision that BP acted recklessly and the final 2015 settlement with states and the U.S. government for $18.7 billion on the Deepwater Horizon Gulf Oil Spill
07/03/2015
Linked Articles
BP Faces Up to $13.7 Billion in Fines in Deepwater Gulf Spill Case
Wall Street Journal 07/03/2015
BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill Claims
Wall Street Journal 07/03/2015
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us