North America
July 20, 2015
Fossil Fuels | Oil
Policy Brief
BP Reaches $18.7 Billion Agreement to Settle Deepwater Horizon Spill
Agreement represents the largest fine of its kind on a single entity in U.S. history and parallels numerous regulatory reforms to address offshore drilling safety
Key Takeaways: BP agreed to settle all federal, state and local claims for $18.7 billion, with payments to be spread over 18 years The agreement increases BP’s financial certainty, but its reduced cashflow could lead the company to become a takeover target in the current low oil price environment New draft regulations would establish design…
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