A New Orleans judge will have to approve the consent decree after a 60-day public comment period before BP and the federal government can officially resolve their long-running legal battles over the massive 2010 oil spill.
Bill Maddock, an expert in offshore operations and engineering, has been tapped to lead a Houston-based deepwater offshore energy research center established in the aftermath of the Deepwater Horizon spill.
potential buyer might be forced to accelerate the payment of up to two thirds of the $18.7 billion in penalties the company agreed to pay the U.S. and several states, according to company filings. As it stands, BP has more than 15 years.
A federal judge said this week BP has until late August to start processing payments totaling $1 billion to the 400 local governments along the Gulf Coast that were part of the British oil major’s $18.7 billion Deepwater Horizon oil spill settlement inked earlier this month.
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