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BP's fine settles at USD20b over Gulf oil spill
(MENAFN) A United States' federal judge has accepted BP's USD20 billion settlement over its infamous 2010 oil spill, which caused a lot of damage, based on reports.
First reached back in October, the final settlement amount accounts for civil claims against the behemoth set forth by the Department of Justice and five Gulf states.
While USD5.5 billion will go toward penalties incurred under the Clean Water Act, most of the money will be given to five states; Alabama, Florida, Louisiana, Mississippi, and Texas.
The London-based oil/gas Supermajor has already spent a reported USD28 billion on cleanups and compensation after an offshore oil rig exploded in the Gulf of Mexico 5 years ago.
First reached back in October, the final settlement amount accounts for civil claims against the behemoth set forth by the Department of Justice and five Gulf states.
While USD5.5 billion will go toward penalties incurred under the Clean Water Act, most of the money will be given to five states; Alabama, Florida, Louisiana, Mississippi, and Texas.
The London-based oil/gas Supermajor has already spent a reported USD28 billion on cleanups and compensation after an offshore oil rig exploded in the Gulf of Mexico 5 years ago.
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