You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

News

  • 9 suspected al-Qaida militants killed in strike
    A U.S. drone strike in southern Yemen killed at least nine suspected al-Qaida militants and three civilians Saturday, authorities said, as part of America’s ongoing strikes in the country against what it considers the terror network’s most dangerous
  • Lotteries
  • Obama wary of Iran-UN bill
    President Barack Obama signed legislation Friday aimed at blocking Iran’s chosen ambassador to the United Nations because of his ties to the 1979 takeover of the U.S. Embassy in Tehran.
Advertisement

BP says Gulf oil spill settlement with US near

LONDON – British oil company BP said Thursday it is in advanced discussion with U.S. agencies about settling criminal and other claims from the Gulf of Mexico well blowout two years ago.

In a statement, BP said “no final agreement has yet been reached” and that any such agreement would still be subject to court approvals.

BP said the proposed settlement would not include civil claims under the Clean Water Act and other legislation, pending private civil claims and state claims for economic loss.

The explosion and fire aboard the Deepwater Horizon rig on April 20, 2010, killed 11 workers and set off a spill which continued for 87 days, fouling large areas of the southern coast of the United States.

Any settlement is expected to dwarf the largest previous corporate criminal penalty assessed by the Department of Justice – the $1.2 billion fine imposed on drugmaker Prizer in 2009.

BP has booked provisions of $38.1 billion to cover its liabilities from the incident, but the company has said the final cost remained highly uncertain. BP also recently announced that it expects to make the final payment this year to a $20 billion trust fund to cover damage from the blowout.

In March, BP announced a settlement with multiple claimants for medical and economic losses, which is estimated to cost $7.8 billion.

Advertisement