MOEX pays $1 billion to BP for Macondo claims

BP says it has settled with MOEX Offshore 2007 LLC and its affiliates Mitsui Oil Exploration Co. Ltd. and MOEX USA Corp. on claims stemming from the Macondo accident.

Offshore staff

LONDON – BP says it has settled with MOEX Offshore 2007 LLC and its affiliates Mitsui Oil Exploration Co. Ltd. and MOEX USA Corp. on claims stemming from the Macondo accident. Under the settlement, MOEX will pay to BP $1.065 billion and BP will apply that to the $20 billion trust established to meet claims.

The companies also agreed to mutually release any claims against each other and BP would indemnify BOEX for compensatory claims from the accident.

05/20/2011

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