BP reaches Deepwater Horizon settlement with MOEX

dipsydoodle

(1000+ posts) Send PM | Profile | Ignore

Fri May-20-11 04:22 AM
Original message

BP reaches Deepwater Horizon settlement with MOEX

Source: BBC News

One of the owners of the oil well that leaked millions of gallons into the Gulf of Mexico last year has agreed to contribute to BP's compensation fund.

MOEX Offshore has agreed to pay $1.065bn (£657m) to BP to settle all claims between the companies relating to the Deepwater Horizon rig accident.

MOEX, a unit of Japanese trading house Mitsui, owned 10% of the Macondo well.

BP has said it will put the money into the $20bn trust it established to meet claims relating to the oil spill.

Read more: http://www.bbc.co.uk/news/business-13466419

Printer Friendly | Permalink | | Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.