BP is nearing the end of the $65bn (£47bn) Deepwater Horizon compensation process, it said as it announced an unexpectedly high payout of $1.7bn among the final few hundred outstanding claims. The British oil firm said on Tuesday it would pay the $1.7bn charge in the last quarter of 2017 for court-ordered payments resulting from the worst oil spill in US history. It means BP will have paid out $3bn in compensation for 2017, compared with the $2bn anticipated. The jump in spill-related costs is a reminder of how difficult it has been for the company to draw a line under Deepwater, eight years on from the Gulf of Mexico disaster, which affected everyone from fishermen to people working in tourism. BP said the increase was partly due to a court ruling last year that tied the compensation to the company’s revenues.
Guardian 16th Jan 2018 read more »
Times 17th Jan 2018 read more »
Independent 16th Jan 2018 read more »