Financial Ports

BP slashes $23m off Louisiana payout in Deepwater Horizon deal

CLAVE 1 / 4BP agrees to pay $350m in a single payment to Louisiana, replacing $373m in interest-free instalments over seven years.

CLAVE 2 / 4The deal resolves outstanding coastal-damage lawsuits brought by Louisiana parishes against BP.

CLAVE 3 / 4The 2010 Deepwater Horizon explosion killed 11 workers and spilled 3.19m barrels of oil into the Gulf of Mexico.

CLAVE 4 / 4BP’s 2015 settlement with the US government and Gulf states was valued at $20.8bn, including $4.9bn for five states over 18 years.

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