BP to pay USD 7.8 billion in Macondo compensation

BP has settled with the group of lawyers representing more than 100,000 plaintiff individuals and companies. And the future holds further damage claims worth billions of dollars, writes Reuters.

The lawsuit concerns economic, property- and medical claims caused by the oil spill at the Macondo well, where the Deepwater Horizon rig was working. The spill caused the equivalent of 4.1 million barrels of oil to leak into the water.

“None of the parties will find all their claims met,” writes the lawyers representing the two parties, but the settlement is “more than fair, reasonable, and appropriate.”

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

One alternative fuel may be particularly dangerous

In a new study – which Maersk, Shell, Euronav and MSC Ship Management, among others, are behind – the new alternative fuels are ranked based on how dangerous they are. The industry has to be careful with one of them, in particular.

Latest news

See all jobs