BP appeals US judge's ruling on size of Gulf oil spill

Rulings leaves the company liable to pay $13.7 billion in fines

Reuters New Orleans
Last Updated : Feb 24 2015 | 8:32 AM IST

BP Plc on Monday appealed a federal judge's finding of the size of the 2010 Gulf of Mexico oil spill, which leaves the company potentially liable to pay $13.7 billion in fines.

In January, US District Judge Carl Barbier in New Orleans ruled that 3.19 million barrels of oil had spilled into the Gulf as a result of the disaster. A determination that less oil was spilled would likely translate into a lower fine for the company.

The appeal comes days after Barbier rejected the company's attempt to reduce the maximum civil fine it could face for its role in the disaster. That decision could result in a $13.7 billion fine for the company under the federal Clean Water Act.

BP had argued for a maximum fine of $3,000 per barrel, while Barbier agreed with the federal government in setting the figure at $4,300 per barrel.

Barbier has not decided how much BP should pay, and it is unclear when he will.

BP has incurred more than $42 billion of costs for the spill, including for cleanup, fines and compensation for victims. About 810,000 barrels were collected during cleanup.

BP has rejected Barbier's finding from the first phase of the trial that it was "grossly negligent" for the blown out Macondo well.

A BP spokeswoman said the company had no comment on its appeal.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Feb 24 2015 | 5:29 AM IST

Next Story