"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."
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)