BP gets $4 bn for gulf spill

Oil giant BP and Anadarko, its partner in the well which caused the Gulf of Mexico oil spill, have agreed a settlement on clean-up costs whereby Andarko will pay BP $4 billion — less than half the amount it may have been forced to pay in court.

Oil giant BP and Anadarko, its partner in the well which caused the Gulf of Mexico oil spill, have agreed a settlement on clean-up costs whereby Andarko will pay BP $4 billion — less than half the amount it may have been forced to pay in court.

HT Image

As part of the deal, Anadarko will no longer pursue its allegations of gross negligence against BP and that the deal excludes possible government fines the parties may have to pay, BP said in a statement released on Monday.

BP has said the total bill for the oil spill, including government fines, for which it has taken charges of $3.5 billion, will be $42 billion.