In continuing news:

Anadarko was ordered to pay almost $160 million in penalties for its role as part-owner of the Macondo well that exploded in the 2010 Deepwater Horizon disaster. The order came after the government told U.S. District Judge Carl Barbier in New Orleans that the company should be fined more than $1 billion for its role in the well’s blowout, which killed 11 people and spewed oil for almost three months. Anadarko, which had a 25 percent stake in the well, argued for fewer fines, as it had essentially no role in the day to day operations of the rig. The maximum allowable penalty under the law would have been $1,100 per barrel of oil spilled, or about $3.5 billion.

Read more about this ruling and the other cases against Deepwater Horizon participants via Insurance Journal here.

Leave a Comment

Your email address will not be published. Required fields are marked *