BP announced July 2, 2015 that its United States Upstream subsidiary has executed agreements with the U.S. federal government and five U.S. Gulf Coast states to resolve claims made by federal, state, and more than 400 local government entities. In the agreement, BP has committed to paying up to US$ 18.7 billion spread over 18 years. Settlement terms are as follows:

Failure of a cement barrier in the production casing string was identified as a central cause of the 2010 Gulf of Mexico oil spill, according to the Report Regarding the Cause of the April 20, 2010 Macondo Well Blowout released by the U.S. Department of the Interior, Bureau of Ocean Energy Management, Regulation and Enforcement
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It’s been 82 days since the April 20, 2010 explosion occurred on the Deepwater Horizon drill rig and caused the ongoing oil spill in the Gulf of Mexico. The hurricane season in the Atlantic Basin is already upon us, commencing on June 1, 2010 and lasting through the end of November. The U.S. Department of Commerce
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