Home / Energy / Payments from 2012 BP settlement $7.9 billion so far
Dark clouds of smoke and fire emerge as oil burns during a controlled fire in the Gulf of Mexico, May 6, 2010. (Image: Petty Officer 2nd class Justin Stumberg via Wikipedia)
Dark clouds of smoke and fire emerge as oil burns during a controlled fire in the Gulf of Mexico, May 6, 2010. (Image: Petty Officer 2nd class Justin Stumberg via Wikipedia)

Payments from 2012 BP settlement $7.9 billion so far

NEW ORLEANS (AP) — The office that processes claims for businesses and people who suffered economic losses from the 2010 Gulf of Mexico oil spill says it has approved payments totaling $8.5 billion as of June 30.

Of that, $7.9 billion in claims has been paid.

The figures are in the latest federal court filing from Michael Juneau, the administrator of claims paid under a 2012 settlement BP reached with businesses and individuals affected by the spill after the Deepwater Horizon rig explosion. More recently, BP reached a $20 billion settlement with state and federal governments.

Last month, BP announced it expects costs arising from the spill to total $61.6 billion — or about $44 billion after tax deductions. That includes response, cleanup, and various settlements and criminal and civil penalties.

 

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