USA: BP reaches agreement on 100,000 private claims as two year anniversary of the Gulf Oil spill nears

Record ID: 345043

  • Title: USA: BP reaches agreement on 100,000 private claims as two year anniversary of the Gulf Oil spill nears
  • Date: 20th April 2012
  • Summary: GULF OF MEXICO (FILE) (REUTERS-ACCESS ALL) VARIOUS OF OIL FLOATING IN THE GULF OF MEXICO CHANDELEUR ISLANDS, LOUISIANA, UNITED STATES (FILE) (REUTERS-ACCESS ALL) VARIOUS OF BIRDS ON OIL STAINED ROCKS QUEEN BESS ISLAND, LOUISIANA, UNITED STATES (FILE) (REUTERS-ACCESS ALL) OILED PELICAN LEANING OVER BOOM TO SIP FRESH WATER VARIOUS OF OILED PELICAN QUEEN BESS ISLAND, LOUISIANA, UNITED STATES (JUNE 5, 2010) (REUTERS -- ACCESS ALL) VARIOUS OF OIL SOAKED MARSHES
  • Embargoed: 5th May 2012 13:00
  • Keywords:
  • Location: Usa, Usa
  • Country: USA
  • Topics: Business,Disasters,Environment
  • Reuters ID: LVA3C8H9WSPZM93HNN97XOLTGYLJ
  • Story Text: Friday (April 20) is the two-year anniversary of the explosion of the Deepwater Horizon drilling rig, which killed 11 workers and triggered the largest U.S. offshore oil spill.
    About 4.1 million barrels of oil were spilled into the Gulf of Mexico.
    The London-based oil company expects under Wednesday's (April 18) agreement to pay $7.8 billion to resolve economic, property and medical claims by more than 100,000 individuals and businesses.
    That payout would make the accord one of the largest class-action settlements in U.S. history. BP still faces tens of billions of dollars of potential claims from the U.S. government; Gulf states; and drilling partners Transocean Ltd, which owned the rig, and Halliburton Co, which provided cementing services.
    BP's Deepwater Horizon rig exploded after a surge of methane gas known to rig hands as a "kick" sparked an explosion aboard the massive rig, killing 11 people. The rig sank two days later.
    The race to contain the oil and cap the ruptured well, captivated the world's attention. BP was widely criticized for its safety standards and the company's perceived insensitivity to Gulf coast residents.
    "There's no one who wants this thing over more than I do. I'd like my life back," BP's Chief Executive Tony Hayward told reporters at the time.
    The remark and the storm of criticism that followed cost Hayward his job. He was replaced a few days later.
    The Gulf region has spent the past two years trying to recapture lucrative fishing and tourism dollars that were lost in the months following the spill.
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