The Call Up

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December 16, 2011 11:30 am
"BP said Friday that Cameron International, one of its contractors in the oil well that burst last year in the Gulf of Mexico, had agreed to pay $250 million to settle claims related to the ensuing spill…BP had already agreed to similar settlements with Anadarko Petroleum and a unit of Mitsui Oil Exploration, MOEX, which had stakes in the well, and Weatherford International, which made a part of the well. Those settlements totaled about $5.1 billion…The company had set aside about $41 billion to cover all costs related to the oil spill, including a $20 billion compensation fund. It said Friday it had already paid out about $7.5 billion to local businesses and individuals."

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Hey remember that oil spill that spewed into the Gulf for a solid 5 months last year?  Don’t worry, BP is settling up damage claims with their contractors.  As for paying the damages they owe…moving a bit more slowly.

(Source: The New York Times)

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