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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


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