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BPs Oil Spill Deal Sours as Claims Add Billions to Cost

2013-06-05 06:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Bloomberg: BP Plcs $8 billion settlement with victims of the 2010 Gulf of Mexico spill may have hurt Europes second-largest oil company more than it helped. The company is relying on a U.S. appeals court to rein in awards by the settlements claims administrator for what it considers to be unreasonable demands, such as a $21 million payout to a rice mill 40 miles from the coast whose revenue rose the year of the spill. BP has protested in court filings that administrator Patrick Juneaus interpretation...

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