Legal Actions
BP Settles Deepwater Horizon Oil Spill Claim for $18.7 Billion
After five years of ligation following the 2010 Gulf of Mexico oil spill, BP reached an 18.7 billion dollar settlement.
April 20, 2010 - Rig Explodes
The Deepwater Horizon oil rig explosion killed 11 workers and released millions of barrels of crude oil into the Gulf of Mexico. BP set aside $42 billion to pay for cleanup costs, damages and penalties.
November 2012 - Criminal case settled
The U.S. government bans BP from new federal contracts, jeopardizing the company's role as a top U.S. offshore oil producer and military fuel supplier. BP agreed to pay $4.5 billion in fines and other penalties. BP also pleaded guilty to 14 criminal charges.
December 2012 - Class action settled
U.S. District Judge Carl Barbier gave the final approval to BP's settlement. BP estimated to pay $7.8 billion to settle more than 100,000 claims, but the dollar amount is not capped. BP stated later on that the payout will grow significantly.
February 2013 - Civil trail begins
BP starts a three-phase civil trail over how blame should be placed between BP, Transocean Ltd, and Halliburton Co.
September 30, 2013 - Second phase of trail begins
The second phase of the trail is to determine how much oil was spilled.
September 4, 2014 - Judge finds BP to blame
Judge Barbier finds BP responsible for the Deepwater Horizon oil spill. BP pledges to appeal.
July 2, 2015 - Settlement reached
BP agrees to pay $18.7 billion in damages for water pollution caused by the spill.
BIB:
"Deepwater Horizon – BP Gulf of Mexico Oil Spill." EPA. Accessed April 26, 2016. https://www.epa.gov/enforcement/deepwater-horizon-bp-gulf-mexico-oil-spill.
