BP oil spill partner MOEX Offshore first to settle with US

MOEX Offshore has agreed to pay a $90m (£57m) settlement relating to the Gulf of Mexico oil spill in 2010.

The company, which owned a 10pc interest in the well, will pay $45m in civil penalties to the federal government and $25m to the Gulf states affected by the spill.

MOEX Offshore also agreed to pay $20m for environmental coastal protection projects.

The federal government has also sued BP, the rig's owner Transocean and another minority partner in the well, Anadarko Petroleum.

MOEX Offshore is a wholly owned subsidiary of MOEX USA and a unit of the Japanese trading house Mitsui & Company.

Read Full Article from Telegraph.co.uk

- Posted: 2012-02-18 22:00:14

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