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2015-07-03 17:50:00

BP WILL PAY $18.7 BLN

BP WILL PAY $18.7 BLN

BP Plc reached a $18.7 billion settlement to end five years of litigation following the 2010 Gulf of Mexico oil spill. It is the largest settlement with a single entity in U.S. history, the U.S. Department of Justice said.

The following is a timeline of key events:

  • April 20, 2010, RIG EXPLODES: An explosion on the Deepwater Horizon oil rig at the Macondo exploration well kills 11 workers and releases millions of barrels of crude oil into the Gulf of Mexico. The well is capped in mid-July. BP ultimately sets aside $42 billion to pay for cleanup costs, damages and penalties.

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Tags: BP, OIL, SPILL, BRITISH, PETROLEUM
Chronicle:
BP WILL PAY $18.7 BLN
2021, April, 15, 13:09:00
MASTERING WIND POWER 23 – 30 June 2021
Mastering Wind Power LIVE ONLINE COURSE OVER 5 SESSIONS Commences: 23 June 2021 – 30 June 2021 (7 – 10 am)
BP WILL PAY $18.7 BLN
2021, April, 15, 13:05:00
U.S. OIL INVENTORIES DOWN 5.9 MB TO 492.4 MB
U.S. commercial crude oil inventories decreased by 5.9 million barrels to 492.4 million barrels.
BP WILL PAY $18.7 BLN
2021, April, 14, 12:19:58
OIL PRICE: ABOVE $64 STILL
Brent rose 85 cents, or 1.3%, to $64.52 a barrel. WTI added 82 cents, or 1.4%, to $61 a barrel.
BP WILL PAY $18.7 BLN
2021, April, 14, 12:15:00
GLOBAL OIL DEMAND WILL UP BY 6 MBD
In 2021, world oil demand growth is expected to increase by about 6.0 mb/d y-o-y, representing an upward revision of about 0.1 mb/d from last month’s report.
BP WILL PAY $18.7 BLN
2021, April, 14, 12:10:00
U.S. OIL PRODUCTION WILL UP
Higher prices are buoying drillers’ confidence. Benchmark Nymex oil gained nearly 35% in the past four months after OPEC and its alliance cut production to strike a balance between demand and supply. The fossil fuel is also getting a bump as Covid-19 vaccinations progress and Americans travel again, boosting gasoline consumption.
BP WILL PAY $18.7 BLN
2021, April, 14, 12:05:00
EUROPE NEED €150 BLN PER YEAR
The financing for the EU economic plan, agreed at 750 billion euros in 2018 prices, but totalling around 800 billion euros at current prices,
BP WILL PAY $18.7 BLN
2021, April, 14, 12:00:00
EUROPEAN WIND INVESTMENT $51 BLN
The investments financed 19.6 GW of capacity that will be constructed in the coming years. Around 13 GW of this will be in the EU.
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