Skip to main content

BP faces heavy fines in Gulf oil spill settlement

BP could face as much as $17.6 billion in civil pollution fines and possibly billions of dollars more in criminal penalties as its settlement with businesses and individuals harmed by the 2010 Gulf of Mexico oil spill shifts the focus to government claims.

BP last week announced it would pay an estimated $7.8 billion to resolve private plaintiffs’ claims for economic loss, property damage and injuries, according to media reports. The settlement, to be paid from a $20 billion trust for spill victims set up in 2010, doesn’t resolve federal and state government environmental damage claims. BP has set aside $37 billion to cover spill costs.

U.S. District Judge Carl Barbier in New Orleans had been set to hear evidence in a trial starting today to decide fault for the spill. BP was sued along with Vernier, Switzerland-based Transocean Ltd., owner and operator of the doomed Deepwater Horizon rig, and Houston-based Halliburton Co., provider of cementing services at the Macondo oil well, about 45 miles off the Louisiana coast.

Barbier delayed the trial after a settlement was announced of consolidated cases against London-based BP that are overseen by a group of lawyers known as the Plaintiffs Steering Committee. He said in a March 2 order that he’ll schedule a status conference to discuss the consequences of the accord and set a new trial date.

Click here for the full article.

Related

AMI-Awards

AMI Announces Certified Members

The association recognized new certified marina manager and certified operators during the opening day keynote at its annual conference and expo.

1_TOPSIDE

TopSide Acquires April Plaza Marina

The marina is the second largest and longest operating marina on Lake Conroe in Montgomery, Tex.

1_POLARIS

Polaris Reports Record FY22, Q4 Sales

The company reported a 15% increase in annual sales and 21% sales growth in the fourth quarter.

1_DOCKMATE

Dockmate Appoints Sales Manager

Bill Karmis comes to the company after more than a decade working in the marine controls industry and with a lifetime of boating experience.

AMI-PRE-CONFERENCE

AMI Hosts Pre-Conference Sessions

The sessions on leadership and marina management, and a tour of a nearby marina and boatyard operation, precede today’s official kickoff of the group’s annual conference.

1_DEALER.OUTLOOK

Boating’s Greatest Thingamabob

The Seattle Boat Show kicks off next week with nearly 300 exhibitors, 800 new boats and the construction of a 100-foot Rube Goldberg boat machine.

1_YEARGIN copy

Business for Good

Companies have a unique platform to make people’s lives better through products and services, how we treat employees and the kind of advocate we are for our industry.

1_PULSE.PING.2

Are You Improving the Service Experience?

This month’s Pulse Report survey asks dealers about tactics being employed to improve the service department, along with other questions about retail conditions. Take the survey here.

1_OFF.THE.HOOK.JPG

Off the Hook Yacht Sales Acquires Two Marinas

The company announced that it purchased facilities in Hampstead, N.C., and Georgetown, Md.