BP Agrees to $4.5 Billion Gulf Spill Settlement; 3 Former Employees Charged

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Nov. 15, 2012

As part of the settlement, BP will pay almost $2.4 billion to the National Fish and Wildlife Foundation and $350 million to the National Academy of Sciences. BP has also agreed to take additional steps to enhance the safety of drilling in the Gulf.

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"All of us at BP deeply regret the tragic loss of life caused by the Deepwater Horizon accident, as well as the impact of the spill on the Gulf Coast region," said Bob Dudley, BP's CEO. "From the outset, we stepped up by responding to the spill, paying legitimate claims and funding restoration efforts in the Gulf. We apologize for our role in the accident, and as today's resolution with the U.S. government further reflects, we have accepted responsibility for our actions."

Attorney General Eric Holder praised the settlement.

"The $4 billion in penalties and fines is the single largest criminal resolution in the history of the United States," Holder said, "and constitutes a major achievement toward fulfilling a promise that the Justice Department made nearly two years ago to respond to the consequences of this epic environmental disaster and seek justice on behalf of its victims."