BP Seen Paying Billions More in Oil Spill Claims After Deal
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BP Plc, which agreed to pay more than $12 billion in government and private party settlements over the 2010 Gulf of Mexico oil spill, still faces claims seeking billions of dollars more for the catastrophe.
The $4.5 billion agreement yesterday resolving federal charges and civil claims by the Securities and Exchange Commission left the company at risk for as much as $17.6 billion in potential fines from alleged violations of the Clean Water Act and demands by the U.S. and Gulf states for enough money to restore the region’s coastline and waters to their condition before the spill.