Payments from 2012 BP settlement $7.9 billion so far

ByThe Associated Press

The office that processes claims for businesses and people who suffered economic losses from the 2010 Gulf of Mexico oil spill says it has approved payments totaling $8.5 billion as of June 30.

 

NEW ORLEANS (AP) — The office that processes claims for businesses and people who suffered economic losses from the 2010 Gulf of Mexico oil spill says it has approved payments totaling $8.5 billion as of June 30.

Of that, $7.9 billion in claims has been paid.

The figures are in the latest federal court filing from Michael Juneau, the administrator of claims paid under a 2012 settlement BP reached with businesses and individuals affected by the spill after the Deepwater Horizon rig explosion. More recently, BP reached a $20 billion settlement with state and federal governments.

Last month, BP announced it expects costs arising from the spill to total $61.6 billion — or about $44 billion after tax deductions. That includes response, cleanup, and various settlements and criminal and civil penalties.

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