Taken together this global resolution of civil claims is worth $20.8 billion, and is the largest settlement with a single entity in the department’s history, Department of Justice said in a statement on Thursday.
If made final, the settlement will provide the U.S. and Gulf states with the resources and certainty needed for effective restoration planning and improvements.
According to the Department of Justice, under the terms of a consent decree lodged in federal court in New Orleans on Thursday, BP must pay the following: $5.5 billion federal Clean Water Act penalty, plus interest, 80 percent of which will go to restoration efforts in the Gulf region pursuant to a Deepwater-specific statute, the RESTORE Act. This is the largest civil penalty in the history of environmental law, DOJ said.
$8.1 billion in natural resource damages, this includes $1 billion BP already committed to pay for early restoration, for joint use by the federal and state trustees in restoring injured resources. BP will also pay up to an additional $700 million, some of which is in the form of accrued interest, specifically to address any later-discovered natural resource conditions that were unknown at the time of the agreement and to assist in adaptive management needs.
he needs a higher oil price to fund the russian economy. lo & behold, there he is causing yet more trouble in syria & deliberately overflying turkish airspace. one would almost think he had planned it.
just think what happens to the price of oil if turkey downs a mig!?
I agree with much of what you said in your 1500hrs post except that it is 17 weeks since bp was 450p not c.8weeks. If the likes of bp and rdsb were not going to recover somewhat before year-end the markets would be well and truly trashed. Dividends paid quarterly for me are a major attraction with these 2 in the present circumstances and I intend holding until the next downturn is confirmed. Probably tomorrow!!
Hi hope your keeping well I don't understand your comment re dropping back to 330s let's not forget that circa 8 weeks ago BP were trading at near 4.50 !! And what has fundamentally changed in that time regarding BP as a company ? I was massively into Barclays and had to do my brains in to get out with a profit and Barclays pay £0.01 as a dividend . BP pay near £0.065 big difference also next cut of date for dividend is fast approaching . I consider the current SP to be cheap for what your getting i.e a blue chip company paying one of the best dividends and still in these hard times for oil making billions in profit . I noticed a BP director buying a million shares so that was good enough for me and I can see this share only going one way from here fingers crossed !! Wishing all investors the very Best Of Luck Keep Smilling
Also share your pain, I sold these on Thursday at 344p, I didn't think it would hold the 340s and feared a drop back down to the 330s. I made a profit but boy oh boy do I wish I held now, painful seeing it rise everyday and no retrace. I refuse to buy back in at these prices.
My friend I share your pain! Bought at 3.95 then it tanked and when I recouped a bit at around 3.60 i got out and took a £6k bath. Now just watching it gap up every day and getting out of reach. Refuse to buy back in and watch it go down again although do have a buy order set at 3.50 just in case.
Hi, You haven't missed lower prices in the short-term it will be going lower with stronger $ when they get round to lifting interest rates. Longterm no ono knows where it's headed with a very high dividend... Id suggest you research more about fundamentals not just watching a video...
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