BP said Thursday that it expects the pre-tax cost of its 2010 Deepwater Horizon explosion and oil spill on the Gulf Coast to total $61.6 billion. The British oil giant said that figure includes a new $5.2 billion pre-tax charge on the company's second-quarter earnings, covering the costs On January 16, 2018, BP PLC announced it would take a $1.7 billion charge for expenses related to the 2010 Deepwater Horizon oil spill. It expects cash payments of $3 billion for the year. As of July 14, 2016, BP had spent $61.6 billion in court fees, penalties, and clean-up costs. Deepwater Horizon oil spill, also called Gulf of Mexico oil spill, largest marine oil spill in history, caused by an April 20, 2010, explosion on the Deepwater Horizon oil rig—located in the Gulf of Mexico, approximately 41 miles (66 km) off the coast of Louisiana—and its subsequent sinking on April 22.

Seven years after the Deepwater Horizon oil spill, this study measures the “ultimate” cost of the disaster. This study compiles all the costs to be borne by BP, which include charges and expenses directly related to the spill, the various fines and penalties to be paid, reimbursements and recoveries from other parties, securities‐related charges, and hidden costs. Oil Spill Costs Costs of the Bouchard No. 120 Oil Spill. An oiled lobster pot and a barrel Costs of the Bouchard No. 120 oil spill. [Also read Costa 2011 US District Court declaration on The Exxon Valdez spill and OPA 90. On March 24, 1989 the oil tanker Exxon Valdez grounded on Bligh Figure 4: Average cleanup cost depending on oil type and persistence (in 1997 U.S. $), based on analysis of oil spill cost data in the OSIR International Oil Spill Database. Cleanup strategies Choices made in cleanup strategies and the decision-making process in the aftermath of a spill can significantly affect cleanup costs. Liability for these damages and restoration costs are still being determined. EDUCATION CONNECTION. Although several years have passed since the actual spill, the Deepwater Horizon/BP is still a current event and is seen frequently in the news providing teachable moments for educators. In addition to large oil spills such as this, non-point In July of 2010, British Petroleum reported a record quarterly loss of $17 billion as it set aside about $32 billion to cover spill-related costs. The company announced that its CEO, Tony Hayward, Deepwater Horizon oil spill, also called Gulf of Mexico oil spill, largest marine oil spill in history, caused by an April 20, 2010, explosion on the Deepwater Horizon oil rig—located in the Gulf of Mexico, approximately 41 miles (66 km) off the coast of Louisiana—and its subsequent sinking on April 22.

Accurate and quick predictions of oil spill movements will save costs and greatly speed up the process of emergency operations. At the same time, having a 

Accurate and quick predictions of oil spill movements will save costs and greatly speed up the process of emergency operations. At the same time, having a  12 Apr 2018 The Balikpapan oil spill off the coast or Borneo in Indonesia covers 120 square kilometres. It has caused the death of 5 people, health and  Location, oil type, and spill size also factor heavily in determining cleanup costs. Nearshore spills and in-port spills are 4-5 times as expensive to clean up as  25 Jan 2019 Have you checked with your insurance company to ensure that both the immediate aftermath of an oil spill and clean-up costs are covered?

20 Jul 2016 More than 1 million gallons of tar sands oil spilled into the It triggered a massive cleanup effort that has cost the company $1.2 billion and 

12 Apr 2018 The Balikpapan oil spill off the coast or Borneo in Indonesia covers 120 square kilometres. It has caused the death of 5 people, health and  Location, oil type, and spill size also factor heavily in determining cleanup costs. Nearshore spills and in-port spills are 4-5 times as expensive to clean up as  25 Jan 2019 Have you checked with your insurance company to ensure that both the immediate aftermath of an oil spill and clean-up costs are covered? 20 Jul 2016 More than 1 million gallons of tar sands oil spilled into the It triggered a massive cleanup effort that has cost the company $1.2 billion and 

Liability for these damages and restoration costs are still being determined. EDUCATION CONNECTION. Although several years have passed since the actual spill, the Deepwater Horizon/BP is still a current event and is seen frequently in the news providing teachable moments for educators. In addition to large oil spills such as this, non-point

The costs associated with cleaning up an oil spill are strongly influenced by the circumstances surrounding the spill including: the type of product spilled; the 

The average oil spill in the United States costs approximately $16 per gallon in cleanup and damages. 1 Adding the current price of oil (approximately $75 to $80 per barrel, or $2/gallon) brings total costs to approximately $18 per gallon, excluding litigation costs.

20 Nov 2018 A new study predicts a major potential economic effect of an oil spill in the Mackinac Straits to the entire Great Lakes region. The Line 5 oil 

Accurate and quick predictions of oil spill movements will save costs and greatly speed up the process of emergency operations. At the same time, having a  12 Apr 2018 The Balikpapan oil spill off the coast or Borneo in Indonesia covers 120 square kilometres. It has caused the death of 5 people, health and  Location, oil type, and spill size also factor heavily in determining cleanup costs. Nearshore spills and in-port spills are 4-5 times as expensive to clean up as  25 Jan 2019 Have you checked with your insurance company to ensure that both the immediate aftermath of an oil spill and clean-up costs are covered?