BP to reimburse $58.2M to Louisiana AG office for Gulf oil spill
Money included in BP $20B settlement announced last week
The largest share of the $20 billion settlement for the 2010 BP Gulf oil spill will go to the state of Louisiana. US Coast Guard photo.
BATON ROUGE, La. – Energy company BP will reimburse the Louisiana Attorney General’s Office $58.2 million for its expenses, fees and litigation costs tied to the 2010 oil spill disaster in the Gulf of Mexico.
The Advocate reports (http://bit.ly/1NE6DTG) the money was included in BP’s record settlement of more than $20 billion finalized last week between the federal government and five Gulf Coast states involved in the sprawling litigation.
Louisiana is set to receive about $6.8 billion, the largest share of the settlement among the states. That includes $5 billion to be spent repairing the spill’s damage to natural resources, money largely intended for coastal restoration and repair of wetlands and damaged wildlife habitats. Another $1 billion is expected to be used to cover Louisiana’s economic losses from the spill.
The Canadian Press
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
