Useful Tips

How much did BP pay for the oil spill?

How much did BP pay for the oil spill?

In 2015 the Justice Department and Gulf coast states reached a record civil settlement with BP that totaled over $20 billion, including a $5.5 billion civil penalty under the Clean Water Act, $8.1 billion in natural resource damages and $5.9 billion in payments to state and local governments.

How much did they have to pay for Deepwater Horizon settlements?

In November 2012, BP agreed to pay $4.5 billion in criminal fines and fees to the federal government. The U.S. and state governments also filed a civil lawsuit against BP under environmental laws, which resulted in an $18.7 billion settlement in July 2015.

How much did Transocean pay for Deepwater Horizon?

BP settled most private party claims for an estimated $10.3 billion and paid $4.5 billion to the U.S. to resolve criminal charges related to the spill. Transocean paid $1.4 billion to the U.S. in 2013 to settle pollution law penalties.

Is the movie Deepwater Horizon accurate?

But, unlike many films based on true events, Deepwater Horizon actually stays remarkably close to real life. The movie draws heavily from a throughly researched 2010 New York Times article documenting the incident. But, still, the movie’s portrayal is not flawless.

Is BP a buy sell or hold?

BP has received a consensus rating of Hold. The company’s average rating score is 2.40, and is based on 10 buy ratings, 8 hold ratings, and 2 sell ratings.

Where can I find information on the Deepwater Horizon oil spill?

Deepwater Horizon – BP Gulf of Mexico Oil Spill. The U.S. District Court for the Eastern District of Louisiana has established the Deepwater Horizon Oil Spill website for this purpose. In addition, links for additional information on the spill, cleanup activities and other responses are provided below.

How much money was spent on the Deepwater Horizon?

The draft plan allocated up to $8.8 billion for restoration from a proposed settlement with BP. It was based on our thorough assessment of impacts to the Gulf’s natural resources and the services they provide.

(NOAA) Under the final consent decree, BP will pay the trustees up to $8.8 billion, the largest recovery of damages ever for injuries to natural resources, to restore the Gulf. The settlement includes: $1 billion already allocated during early restoration which began in 2011.

How did the Deepwater Horizon damage assessment work?

Through the Natural Resource Damage Assessment (NRDA), we evaluated the type and amount of restoration needed in order to return the Gulf to the condition it would have been in before the spill and to compensate the public for the natural resource services that were injured or lost.