Deepwater Horizon settlement talks stall as US demands $18bn from BP

1 Oct

 

Talks between BP and the US government over a settlement for the 2010 oil spill have stalled because the US is insisting that the British oil giant pay at least $18bn, according to reports.

 

According to the Sunday Times in the UK, a settlement deal may not happen until early next year.

 

A settlement between $18bn and $21bn is near the level which BP would be required to pay should it be found grossly negligent under the Clean Water Act, said the paper.

 

BP, which declined to comment on the story, has always denied any liability for the United States‘ worst offshore environmental disaster.

 

Reports in July suggested that the US was looking for a settlement of $25bn.

 

The newspaper said that BP’s board is split over whether to pay $18bn or continue to push for a settlement at $15bn, the level it is widely reported to be hoping to settle at.

 

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