Statement on Deepwater Horizon Escrow Fund

Thursday, August 12, 2010

On Augutst 9, Associate Attorney General Tom Perrelli issued the following statement on the Department of Justice’s negotiations to establish an escrow account for the Deepwater Horizon oil spill:

"Today, the department announced that it had completed negotiations to establish a $20 billion fund to provide the necessary resources to those suffering from the effects of the oil spill in the Gulf of Mexico. We are pleased that BP made an initial contribution and has taken an important step toward honoring its commitment to the President and the residents and business owners in the Gulf region. We have made clear that the company still needs to ensure that the necessary funds will be available if something happens to the subsidiary that established the trust and we look forward to completion of an appropriate security arrangement in the near future."
 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Baltic Sea Freight Index Down on Lower Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday, pulled down by a fall in rates across all vessel segments.

Blaze hits Mexico Oil Platform, 300 Workers Evacuated

Mexican state-run oil company Pemex said on Wednesday that it was fighting a fire on oil platform in Campeche Bay on the Gulf of Mexico, home to the country's biggest oil field,

Donjon-SMIT Relocating to Houston

Alexandria, VA- Donjon-SMIT, the unique provider of Oil Pollution Act of 1990 (OPA 90) Salvage and Marine Firefighting (SMFF) services established by Donjon Marine Co.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1137 sec (9 req/sec)