Skip to content

Subscriber Only

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

By

Rakteem Katakey,

Del Quentin Wilber, and

Margaret Cronin Fisk

October 5, 2015, 3:20 PM UTCUpdated onOctober 5, 2015, 5:09 PM UTC

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.