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The court hearing BP’s Clean Water Act trial has ruled that 3.19 million barrels of oil were released into the Gulf of Mexico, capping the potential penalty at US$13.7 billion. The news is positive for BP and its investors, lowering the maximum penalty by US$3.9 billion (based on the US Government’s 4.19 million barrel claim). We believe that BP has the ability to absorb the maximum potential penalty even following the oil price collapse.
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This Upstream Oil and Gas Inform report highlights the key issues surrounding this topic, and draws out the key implications for those involved.
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Inform | Jan 2015
BP Clean Water Act liability capped at US$13.7 billion
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