BP agrees to pay $7.8 billion in Macondo settlements

BP PLC agreed to pay $7.8 billion in settlement agreements with the Plaintiffs' Steering Committee (PSC) to resolve most of the private economic loss, property damage, and medical claims stemming from the Macondo well blowout. The April 20, 2010, blowout trigged an explosion and fire on Transocean Ltd.'s Deepwater Horizon semisubmersible, killing 11 crew members. The incident caused a massive oil spill in the Gulf of Mexico off Louisiana. Along with motions seeking preliminary approval from a federal judge in New Orleans for the settlements, BP also requested a delay in any liability trial about remaining disputes. PSC will not oppose the request, BP said in an Apr. 17 news release. The s...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected