Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

BP to Pay $20.8 Billion for Deepwater Horizon Oil Spill

Jaclyn Jaeger | October 5, 2015

BP today reached an historic $20.8 billion settlement with the government and five Gulf states to resolve civil claims arising from the 2010 Macondo well blowout and the massive oil spill that followed in the Gulf of Mexico. It is the largest settlement with a single entity in the Department’s history.

The settlement, which still must be approved by the court, is the result of a civil lawsuit the Justice Department filed against BP and several co-defendants in December 2010, seeking to hold them accountable for the Deepwater Horizon disaster. “The federal lawsuit culminated in a three-phase civil trial in which the United States proved, among other things, that the spill was caused by BP’s gross negligence,”...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.