Home » NEWS » Manufacturing » BP's $20B fund to start making payments next month

BP's $20B fund to start making payments next month

GULF COAST — The $20 billion that BP has set aside to pay for losses caused by the Gulf of Mexico oil spill will start making payments in early August.

Ken Feinberg, who is in charge of paying individuals and private businesses for their lost income, told a meeting of government officials in Louisiana yesterday that he expected a seamless transition from BP management to his administration.

The fund has not been tapped yet, but Feinberg said by the end of the first week of August his group would be ready to make payments.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Megan Wright

Leave a Reply

Your email address will not be published. Required fields are marked *

*