After the Deepwater Horizon drilling rig exploded in 2010, BP paid out more than $60 billion in the US. More than eight years later, Mexico quietly settled with the oil giant for $25 million. BP’s total costs for the deadly Deepwater Horizon disaster is approaching $62 billion. The oil giant today said it expects a pre-tax non-operating charge associated with the 2010 Gulf of Mexico oil spill of around $5.2 billion, bringing the total bill for the environmental disaster to $61.6 billion. Oil giant BP will pay out more than $20 billion to settle claims against it for the Deepwater Horizon oil spill in 2010. The answer: the $61.6 billion cost to BP of the 2010 oil spill in the Gulf of Mexico. On Thursday, BP issued its final estimate of the cost of the spill, the largest in U.S. history. By contrast, BP has done well, and not just over this $20 billion. BP wrote off the cost of its $32 billion cleanup effort after the spill, costing American taxpayers roughly $10 billion. While BP is on the hook for the clean up costs, there is a $75 million cap on an oil company's liability for economic damages, or other damages claimed by individuals or government, under the Oil Spill Liability Trust Fund law. That law also established a government reserve funded through taxes on oil companies, Death Payouts in BP Spill Start at $8 Million. Settlements with families of workers killed in last year's Deepwater Horizon oil-rig explosion are running at $8 million to $9 million so far, a range sharply inflated by companies' interest in avoiding another possible wave of bad publicity from the accident.
13 Jul 2015 BP may have billions more to pay, even after its $19 billion settlement. By The site of the oil spill at the Deepwater Horizon drilling platform. 6 Oct 2015 Oil giant BP will pay nearly $21 billion to settle its 5 year old dispute with US Federal and State authorities over the Deepwater Horizon oil spill, which penalty will go to help the Gulf recover from the injuries it has suffered. because BP underestimated how much oil was spilling into the Gulf of Mexico. 2 Jul 2015 "Since the Deepwater Horizon oil spill -- the largest environmental disaster in our In arguing against such a high penalty, BP has said its spill-related costs It's also unclear how much BP will end up paying under a 2012
BP Deepwater Horizon costs balloon to $65 billion. LONDON (Reuters) - BP said on Tuesday it would take a new charge over the 2010 Deepwater Horizon spill after again raising estimates for outstanding claims, lifting total costs to around $65 billion. BP set up its own private claims program unilaterally in 2010. Known as the Gulf Coast Claims Facility, it paid an additional $6.2 billion to more than 220,000 individual and business claimants. In June, 2016 BP announced that it had come up with its final estimate of the cost for the oil spill: $61.6 billion. BP has agreed to pay a record environmental fine of $18.7bn to settle legal actions brought by the US and several states over the fatal 2010 Gulf of Mexico oil spill. The US justice department, along with the states of Louisiana, Mississippi, Alabama, Texas and Florida,
dimension to the disaster and to our undertaking, as well as the many people Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling: an This report is the result of an intense six-month effort to fulfill the President's charge. well had gone fine.20 To ensure the job did not have problems, a three -man 20 Apr 2018 That's nearly twice as much as the $67.8 million he's paid out to claimants over the last six years. If the medical settlement had played out the way 16 Jan 2018 BP to take $1.7bn Deepwater Horizon oil spill charge “With the claims facility's work very nearly done, we now have better visibility into the 30 Mar 2011 involved in the oil spill, including involuntary-manslaughter charges for any BP has spent $2.1 billion to settle accident claims stemming from its Texas City refinery explosion in 2005, which killed 15 people and injured many more. One settlement with Transocean was paid to the family of Adam Weise, 2 Jul 2015 Thick oil from the BP Deepwater Horizon oil spill floats on the surface of oil spilled at between one and two million barrels so far, double the Five years after millions of gallons of oil flooded into the Gulf of Mexico, BP has agreed to pay did contribute to a drop in Gulf of Mexico oil production, but it has
2 Jul 2015 Thick oil from the BP Deepwater Horizon oil spill floats on the surface of oil spilled at between one and two million barrels so far, double the Five years after millions of gallons of oil flooded into the Gulf of Mexico, BP has agreed to pay did contribute to a drop in Gulf of Mexico oil production, but it has