BP pays Louisiana US$350 million to settle Deepwater Horizon claims

One lump-sum payment

350 US$ million

Louisiana had been owed US$373 million over the next seven years. It will now receive a single, accelerated payment of US$350 million.

BP said the remaining coastal lawsuits by Louisiana parishes will also be resolved. Gov. Jeff Landry said the state has settled with all but one of the major defendants in the coastal cases.

Background

BP agreed in 2015 to pay up to US$18.7 billion to the federal government and five states over the 2010 spill, including US$4.9 billion for the states over 18 years.