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BP's Record Oil Spill Settlement Rises to More Than $20 Billion

  • Largest settlement in history of U.S. Justice Department
  • Cost of deal with U.S., Gulf states grows from July agreement
Updated on

The value of BP Plc’s settlement with the U.S. government and five Gulf states over the Deepwater Horizon oil spill rose to $20.8 billion in the latest tally of costs from the U.S. Department of Justice.

The settlement is the largest in the department’s history and resolves the government’s civil claims under the Clean Water Act and Oil Pollution Act, as well as economic damage claims from regional authorities, according to a U.S. Justice Department statement Monday.