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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Marine Well Containment Company (MWCC) was formed in 2010 when Chevron, ConocoPhillips, ExxonMobil and Shell committed US$1 billion to develop a containment response system that could operate in the Gulf of Mexico in 10,000 feet of water and process up to 100,000 barrels of fluid and 200 million cubic feet of gas per day. In May 2011, MWCC opened its headquarters in Houston […]
