Tag: BP Gulf

BP will pay $18.7B for Deepwater Horizon oil spill [VIDEO]

The Gulf Coast states and the federal government have reached a tentative settlement with BP for the British oil company to pay $18.7 billion over 18 years, to compensate for damages from the 2010 Deepwater Horizon oil spill, state officials said Thursday. โ€œThis is a landmark settlement,โ€ Gov. Robert Bentley of Alabama said. โ€œIt is…

U.S. Agrees to Allow BP Back Into Gulf Waters to Seek Oil

Four years after the Deepwater Horizon rig explosion, BP is being welcomed back to seek new oil leases in the Gulf of Mexico. An agreement on Thursday with the Environmental Protection Agency lifts a 2012 ban that was imposed after the agency concluded that BP had not fully corrected problems that led to the well…

BP Gulf Of Mexico Fund Running Out Of Cash

BPโ€™s compensation fund that it set up to pay claims related to the Gulf of Mexico oil spill is running out of cash. The oil giant announced that the fund, which originally had $20bn, has just $300m left. The deadline for business to claim loss of earnings due to the spill is not until April…