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Payments from 2012 BP settlement $7.9 billion so far

4 months 2 days 22 hours ago August 01, 2016 Aug 1, 2016 Monday, August 01 2016 August 01, 2016 4:55 PM in News
Source: Associated Press
By: AP News

NEW ORLEANS - 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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