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U.S. Settles Claims Against BP Over Deepwater Horizon Spill For $20 Billion

Author: Bill Chappell, NPR (USA), Published on: 6 October 2015

Federal and state claims against BP for the April 2010 Deepwater Horizon oil spill have been resolved, the Justice Department says, with the oil and gas company agreeing to pay more than $20 billion in penalties. Calling it "a historic resolution," U.S. Attorney General Loretta E. Lynch said Monday that the deal is "the largest settlement with a single entity in American history," with a record environmental penalty…According to BP, the settlement announced today "does not reflect a new settlement or any new money." Instead, the company says, the figure touted by U.S. officials today includes money that was previously spent or announced…With today's announcement, the government is opening two months of public comment on the settlement. It'll then go before a federal judge for final approval.

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Related companies: BP