BP raises the estimated cost of the Deepwater Horizon oil spill in the Gulf of Mexico to $40 billion.
BP offered investors tentative signs of recovery on Tuesday, with a modest rise in underlying profits, as it increased its estimate of the likely cost of its Gulf of Mexico oil spill to $40 billion.
- London-based BP agrees, pending court approval, to pay $US18.7 billion to compensate the United States government and the five Gulf Coast states--Alabama, Florida, Louisiana, Mississippi and Texas--for damages stemming from the 2010 Gulf of Mexico oil spill. The settlement includes a civil penalty of $US5.5 billion under the Clean Water Act.
- U.S. federal magistrate Carl Barbier's ruling caps BP's fine under the Clean Water Act for its 2010 "Deepwater Horizon" oil spill in the Gulf of Mexico at $13.7 billion.
- The United States Department of Justice files papers in court documenting BP's "gross negligence and willful misconduct" over the April 2010 oil spill in the Gulf of Mexico.
- BP and plaintiffs reach an agreement over compensation for the Deepwater Horizon oil spill in the Gulf of Mexico.
- BP is to sell assets worth an estimated $1.8 billion as part of series of sales to help pay for damages caused by the explosion on its Deepwater Horizon rig in April, which killed 11 workers and spilled more than 200 million gallons of crude oil into the Gulf of Mexico.