Five questions answered on… BP's record fine for Deepwater Horizon
The oil giant's in giant trouble.
How much does BP have to pay in the settlement?
The oil giant pleaded guilty to the manslaughter of 11 men during the 2010 spill and have been ordered to pay $4.5bn (£2.8bn) to the US authorities.
How much has the oil spill cost BP altogether?
After this latest settlement it is estimated the biggest oil spill disaster in America’s history has caused the offending company £43bn.
However, there is also a civil case that remains unresolved accusing BP of gross negligence, which if BP are found guilty it will no doubt have to pay out even more.
What about the manslaughter charges?
BP has pleaded guilty to the manslaughter of 11 men. The Department of Justice has also charged BP’s two highest-ranking supervisors on the Deepwater Horizon, Robert Kaluza and Donald Vidrine, with manslaughter, negligence and gross negligence.
Also, David Rainy a former senior BP executive who served as deputy commander during the spill has been arrested for allegedly underestimating the spill.
BP will also plead guilty to two criminal misdemeanor counts over the spill and to a criminal felony charge of obstructing Congress by lying about the amount of leaking from the Macondo well.
What have officials said about the settlement?
The Telegraph report that the New Orleans assistant attorney general Lanny Breuer said:
“Perhaps the greatest tragedy is that the deaths of the 11 men on board the Deepwater Horizon could have been avoided. As the oil spill continued, BP made a tragic situation worse: it began misleading Congress and the American people about how much oil was pouring out of the Macondo well.”
What has BP said?
BP chief executive Bob Dudley said:
“All of us at BP deeply regret the tragic loss of life caused by the Deepwater Horizon accident as well as the impact of the spill on the Gulf coast region.
“We apologise for our role in the accident and, as today’s resolution with the US government further reflects, we have accepted responsibility for our actions.”