BP to Donate Revenue from Well Leak

BP announced that it will donate the net revenue from oil recovered from the MC252 spill to create a new wildlife fund to create, restore, improve and protect wildlife habitat along the coastline of Louisiana, Mississippi, Ala., and Fla.  The creation of this fund is over and above BP’s obligations under the Oil Pollution Act of 1990. 

BP’s net revenue from the sale of oil recovered from skimming operations and the well containment systems will be deposited into this newly-created fund.  BP said it will provide regular updates on the amount of proceeds being deposited into the fund. 

On May 24, BP announced a commitment of up to $500m for an open research program studying the impact of the Deepwater Horizon incident, and its associated response, on the marine and shoreline environment of the Gulf of Mexico.