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Tag Archives: Deepwater Horizon

BP estimates cost of 2010 Gulf oil spill at $61.6 billion

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Oil giant BP PLC has put a final price tag on what its catastrophic Gulf of Mexico oil spill cost the company, and it’s a hefty sum: $61.6 billion. The company issued the estimate Thursday, the first time it has put a total cost on the catastrophe. BP said it expects to spend a total of $44 billion after tax ...

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Mississippi set to get first $150M from oil spill settlement

Deepwater Horizon

Mississippi is about to receive the first $150 million for economic damages from the 2010 Gulf of Mexico oil spill. Attorney General Jim Hood says the payment from BP is expected Friday. Under a multistate oil spill settlement, Mississippi is to receive almost $2.2 billion. About $1.5 billion is for environmental restoration and economic development. The Legislature will decide how ...

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BP oil spill settlement paves the way for recovery progress

Deepwater Horizon

By BECKY GILLETTE The Deepwater Horizon oil spill court settlement between BP and the government reached April 4—just a couple weeks before the sixth anniversary of the world’s largest oil spill disaster—opens the way for millions of dollars being allocated for projects on the Mississippi Gulf Coast designed to compensate for the environmental damages. There are three different funding streams ...

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THE GULF COAST’S BIG CATCH — A boatload of projects — including aquarium — get OK from ecosystem restoration council

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By BECKY GILLETTE The Gulf Coast received an early Christmas present in the form of the announcements of significant economic development and environmental restoration projects when the Gulf Coast Ecosystem Restoration Council (RESTORE) met last week and approved major projects such as a $17 million aquarium that will have wide-ranging benefits across the Mississippi Gulf Coast. “The council’s approval of the ...

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Biloxi council negotiating over BP legal fees

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BILOXI — The city of Biloxi hasn’t yet received its $5.9 million settlement from BP from the Deepwater Horizon oil spill but city officials are trying to get attorneys to reduce the 20 percent contingency fee. The Sun Herald reports a special meeting was called Thursday to discuss the 2012 contract with Biloxi law firm Page, Mannino, Peresich and McDermott. ...

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Gulfport accepts $4.4 million settlement from BP

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GULFPORT — The city of Gulfport is accepting $4.4 million from BP as part of a group settlement of local government claims for economic losses caused by the 2010 BP oil spill. Multiple media outlets report that Mayor Billy Hewes and the city council made the announcement Monday following a closed-door session. Earlier this month, BP and five coastal states ...

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D’Iberville settles with BP for nearly $1 million

Deepwater Horizon

D’IBERVILLE — The city of D’Iberville didn’t see any oil on its shores from the 2010 Deepwater Horizon oil spill, but the city shared in the economic woes that followed the spill and will share in the BP settlement. City Manager Bobby Eleuterius tells The Sun Herald the mayor and city council on Tuesday agreed to accept just over $948,000 ...

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Biloxi settles with BP for $4.9 million

Deepwater Horizon

BILOXI — The city of Biloxi is accepting $4.9 million from BP as part of a group settlement of local government claims for economic losses caused by the 2010 BP oil spill in the Gulf of Mexico. Last week, BP and five coastal states announced a deal to provide $18.7 billion in new money to the states. The company said ...

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DAVID DALLAS: BP disaster demonstrates need for change

Deepwater Horizon

Call me crazy, but I’ve always had a soft spot for British Petroleum. One of my favorite childhood memories is having our car filled up and serviced at the old Walt’s Gulf station in the middle of downtown Cleveland, Mississippi. Mr. Walt had a young man named Charles that worked for him. Charles would let me help him fill up ...

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How 5 Gulf Coast states will divide BP oil spill settlement

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NEW ORLEANS — Most of the $18.7 billion proposed settlement that BP reached over its 2010 Gulf of Mexico oil spill would go to five Gulf Coast states, if the deal is approved by a judge. A portion of the settlement is not assigned to any particular state. Here’s how the state-specific money breaks down, with payments to states being ...

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