Who gains from saving nature
Ledger 1 : 33 — For each dollar financing nature-based solutions in 2023, about $33 financed activities harmful to nature. (UNEP)
Cases / Oil spill · United States · 2010–2031

BP Deepwater Horizon: the spill, the court cases and the recovery claims

Nature's voice · report
Between 51,600 and 84,500 of my birds died, according to the Trustees' 2016 estimate.
Did nature suffer? Yes. Harm is on record. Disputed
Recorded
  • Between 4,900 and 7,600 of my large juvenile and adult sea turtles were killed, and between 56,000 and 166,000 small juveniles, according to the Trustees. Nearly 35,000 hatchlings were injured by the response itself. Deepwater Horizon Natural Resource Damage Assessment Trustees
  • In my waters, 2 to 5 trillion larval fish were affected, according to the Trustees. Deepwater Horizon Natural Resource Damage Assessment Trustees
  • My Barataria Bay bottlenose dolphins: the Trustees found 35% more deaths, 46% more failed reproduction and 37% more adverse health effects than in a healthy population, and estimated up to a 51% decrease in the population. Deepwater Horizon Natural Resource Damage Assessment Trustees
  • NOAA's June 2024 assessment gives a maximum reduction of 45% for those dolphins and 35 years to recover to 95% of baseline. It reports reproductive success of 0.185, which it describes as less than one in five detected pregnancies producing a viable calf, says disease conditions have persisted and worsened, and gives an abundance of 2,071 in the 2019 survey. NOAA Fisheries
  • The Marine Mammal Commission analysis gives a 51% mean decline for the stock and about 32 years to recover under its refined model. Marine Mammal Commission
  • A model coordinated by NOAA projected that my Barataria Bay dolphin population would halve within ten years and take 40 years to recover. University of St Andrews
  • Seven years after the spill my deep-sea coral colonies had not recovered; recovery was estimated at up to 30 years in a study of 326 colonies. Gulf of Mexico Research Initiative
  • Sperm whales declined by up to 7%; 48% of Bryde's whales were affected, with a decline of up to 22%. Deepwater Horizon Natural Resource Damage Assessment Trustees
  • No Trustee document from 2024 to 2026 describes any injured resource of mine as restored or recovered. Deepwater Horizon Natural Resource Damage Assessment Trustees
  • About 3.19 million barrels of oil entered my waters.
    US District Court finding (2015), after about 810,000 barrels collected
  • At least 2,100 km of my coastline were oiled.
    At least 1,300 miles, eastern Texas to the Florida Panhandle
  • Up to 84,500 of my birds died.
    Trustee range 51,600–84,500 (2016); a USGS report (2026) gives 56,141–102,399
People
  • 11 people died.
  • 17 people were injured.
What the record lacks: 7 none on record · 1 not disclosed · 1 insufficient · 8 disputed · 9 unclear See the gaps
Accounts of the harm differ
Had the Gulf returned to its pre-spill condition by 2015?
  • Company or project BP: Its 16 March 2015 report said the Gulf had returned to baseline, fish populations were sound and heavily oiled marsh shoreline had fallen from 86 to 0.7 miles.
  • Government and regulators NOAA: Said the same day that BP had misinterpreted and misapplied the data and that effects would most likely last for generations.
  • Government and regulators Head of Louisiana's coastal protection agency: Said BP had used the data selectively.
How large was the decline of Barataria Bay dolphins and how long will recovery take?

An offshore rig drilling BP's Macondo exploration well exploded in the Gulf of Mexico on 20 April 2010, killing 11 workers; oil flowed for 87 days. BP pleaded guilty in a criminal case that carried $4 billion in payments and signed a $20.8 billion civil settlement paid until 2031; by the end of 2025, $2.44 billion of up to $8.8 billion set aside for natural resources had been spent.

$2.4bn / $67bnNatural-resource money spent vs BP's booked spill cost
Spent by the Trustees to end-2025, against BP's cumulative pre-tax charge to end-2018. Different windows; not a ratio. See Who gained.

Status As of October 2026: BP's settlement installments run to 2031, the Trustees had spent $2.44bn of up to $8.8bn by end-2025, no Trustee document from 2024-2026 declares an injured resource restored, and the Trustees' next programmatic review is expected in late 2026.

What?
On 20 April 2010 the Transocean-owned Deepwater Horizon rig exploded while drilling BP's Macondo exploration well, killing 11 workers and injuring 17. Oil flowed for 87 days; a federal court found 3.19 million barrels reached the Gulf of Mexico. Deepwater Horizon Trustees
Where?
BP's Macondo well, Mississippi Canyon Block 252, Gulf of Mexico, about 66 km off the Louisiana coast and about 5,000 feet deep; oil reached shoreline from eastern Texas to the Florida Panhandle. Deepwater Horizon Trustees
When?
Explosion on 20 April 2010; well capped on 15 July 2010. BP pleaded guilty in January 2013, the court found gross negligence on 4 September 2014, and the $20.8bn settlement was entered on 4 April 2016, payable until 2031. US District Court, E.D. Louisiana
Who?
Gained
  • BP — Recorded a $11.857bn tax credit on spill costs in 2010. BP p.l.c. (SEC filing)
  • BP — From 2011 to 2025 its profit attributable to shareholders totalled $75.4bn, and its Gulf of Mexico production was worth about $108bn gross (estimate, not profit). BP p.l.c. (SEC filing)
  • BP shareholders — $56.2bn in dividends and share buybacks in 2021–2025 (estimate, cash-flow basis); dividends were suspended in 2010 for eight months. BP p.l.c. (SEC filing)
  • Transocean — Received $560m from hull insurers for the rig and recorded a $267m gain on the loss; BP later paid it $125m for legal fees. Transocean (SEC filing)
  • Anadarko — Recognised a $163m gain for insurance recoveries in 2011. Anadarko (SEC filing)
Lost
  • BP — A cumulative pre-tax charge of $67.0bn by the end of 2018, including $4bn in criminal fines and penalties and the $20.8bn settlement; it recovered $4bn from Anadarko, $1.065bn from MOEX and $250m from Cameron. BP p.l.c. (SEC filing)
  • Transocean — $400m criminal fine and $1bn civil penalty, plus $211.75m to two plaintiff classes, paid from cash. US Department of Justice
  • Halliburton — $1.1bn class settlement; of about $1.5bn in settlement and legal costs, $403m was reimbursed by insurers and Chubb Bermuda refused about $200m. Halliburton (SEC filing)
  • Anadarko — $159.5m Clean Water Act penalty and $4bn paid to BP. NBC News
  • Gulf businesses, fishers and residents — Federal fishery closures peaked at 88,522 square miles, about 37% of Gulf federal waters; the Gulf Coast Claims Facility paid at least $6.2bn to more than 220,000 claimants. US Department of Justice
  • Clean-up workers and coastal residents (medical class) — About 37,000 claims were filed and about 78% were initially rejected; 40 of about 23,000 approved claimants received the top award of $60,700. Fortune
  • US taxpayers — US PIRG estimated $15.3bn of the $20.8bn settlement could be deducted, a tax benefit of about $5.35bn (advocacy-group estimate; the actual deduction is undisclosed). Accounting Today
Harmed
Why?
A federal court found that the discharge was the result of BP's "gross negligence" and "willful misconduct", "an extreme deviation from the standard of care and a conscious disregard of known risks". It found BP reckless and Transocean and Halliburton negligent, apportioning fault 67%, 30% and 3%. US District Court, E.D. Louisiana
How?
The well blew out during temporary abandonment and flowed for 87 days. BP, self-insured, paid through a $20bn trust and the 2016 settlement, which includes up to $8.8bn for natural resources paid in instalments to 2031. US Department of Justice
In proportion By the end of 2025 the Trustees had spent $2.44bn, about 28% of the up to $8.8bn set aside for natural resources. Deepwater Horizon Trustee Council
6 of 6 questions answered from the record

What happened

The record, in order.

In March 2008 BP paid a little over $34 million to the Minerals Management Service for the Mississippi Canyon Block 252 lease, according to the report of the National Commission, and estimated a reservoir of at least 50 million barrels. The Macondo well was an exploration well: BP planned to drill to 20,200 feet to learn about the geology and because it thought it might find a reservoir that would warrant installing production equipment. Transocean's Marianas rig spudded the well in October 2009; hurricane damage ended its work, and the Deepwater Horizon rig arrived on 31 January 2010. The well was not producing on 20 April 2010.

On 20 April 2010 the Deepwater Horizon rig, owned by Transocean, exploded while drilling BP's Macondo well in the Gulf of Mexico. Eleven workers were killed and 17 were injured; the rig sank on 22 April. A capping stack stopped the flow on 15 July 2010, which NOAA counts as 86 days exclusively and 87 days inclusively; the well was declared sealed on 19 September 2010. The US government had estimated about 4.9 million barrels released gross. In January 2015 the federal court found that 4.0 million barrels were released and that 3.19 million reached the Gulf after about 810,000 barrels were collected (NOAA gives about 134 million gallons, which equals 3.19 million barrels). At least 2,100 km of shoreline were oiled. The natural-resource Trustees estimated that 51,600 to 84,500 birds, 4,900 to 7,600 large juvenile and adult sea turtles and 2 to 5 trillion larval fish died.

In January 2013 BP pleaded guilty to 14 criminal counts, including 11 counts of seaman's manslaughter, and agreed to a record $4 billion in payments, of which $2.544 billion went to the National Fish and Wildlife Foundation's Gulf Environmental Benefit Fund. In September 2014 Judge Carl Barbier of the US District Court, E.D. Louisiana (MDL 2179) found that the discharge resulted from BP's gross negligence and willful misconduct, and apportioned fault 67% to BP, 30% to Transocean and 3% to Halliburton, finding Transocean and Halliburton negligent. In October 2015 the US and five Gulf states announced a civil settlement of about $20.8 billion, which the court entered as a consent decree on 4 April 2016: a $5.5 billion Clean Water Act penalty, $8.1 billion in natural-resource damages (plus up to $700 million), other federal claims and $5.9 billion for states and local governments. BP's RESTORE deposits of about $4.4 billion are paid in installments from 2017 to 2031. No individual received a prison sentence.

BP shared costs with partners and contractors: Anadarko paid BP $4.0 billion and transferred its interest in the Macondo well and lease (October 2011), MOEX agreed to pay $1.065 billion (May 2011) and Cameron paid $250 million (January 2012), of which $167.5 million was funded by Cameron's insurers. BP bought little insurance: its 2010 Form 20-F says the group generally restricts its purchase of insurance to situations required for legal or contractual reasons, and that losses are borne as they arise. Transocean received $560 million from its hull insurers for the rig and recorded a $267 million gain. BP's attempt to claim as an additional insured under $750 million of Transocean's liability policies failed in the Texas Supreme Court in February 2015, and in May 2015 BP agreed to drop its attempts to recover and to pay Transocean $125 million for legal fees. Estimates of the insured market loss varied widely, and no final figure is on record.

BP recorded a cumulative pre-tax charge of $67.0 billion ($66.958 billion) by the end of 2018 and a 2010 tax credit of $11.857 billion. From 2011 to 2025 its profit attributable to shareholders totalled $75.4 billion. By the end of 2025 the Trustees had received $5.54 billion in natural-resource payments and spent $2.44 billion. Official documents from 2024 to 2026 do not describe any injured resource as restored or recovered. NOAA's June 2024 stock assessment gave a maximum reduction of 45% for the Barataria Bay bottlenose dolphin stock and 35 years to recover to 95% of baseline numbers, and said disease conditions had persisted and worsened. In July 2025 Louisiana agreed to terminate the Mid-Barataria Sediment Diversion project, cutting its budget from $2.26 billion to the $618.52 million already disbursed; unused funds are to be available for future Deepwater Horizon restoration in Louisiana. In December 2025 BP was the top bidder in a Gulf lease sale, for 51 blocks. The Trustees' next programmatic review is expected in late 2026.

  1. 2008BP pays a little over $34m for the Mississippi Canyon Block 252 lease (March)
  2. 2010Explosion 20 Apr, 11 workers killed; rig sinks 22 Apr; well capped 15 Jul; BP suspends dividend (Jun); well declared sealed 19 Sep; Transocean receives $560m hull insurance; BP records a $11.9bn tax credit
  3. 2011MOEX agrees to pay BP $1.065bn (20 May); Anadarko pays BP $4bn (Oct); first court ruling against BP on Transocean's insurance (Nov)
  4. 2012Cameron pays $250m into the $20bn trust (Jan); BP criminal plea agreed (Nov); SEC settlement $525m; EPA suspends BP from new federal contracts; class settlement approved 21 Dec
  5. 2013BP sentenced 29 Jan ($4bn); Transocean pays $1.4bn ($400m criminal plus $1bn civil)
  6. 2014Phase One ruling 4 Sep: gross negligence and willful misconduct, fault BP 67%, Transocean 30%, Halliburton 3%; Halliburton $1.1bn class settlement
  7. 2015Phase Two ruling on volume, 15 Jan (3.19m barrels); Texas Supreme Court rules against BP on insurance, 13 Feb; BP report says the Gulf is returning to baseline and NOAA disputes it, 16 Mar; BP and Transocean settle, 20 May; $20.8bn settlement announced 5 Oct
  8. 2016Consent decree entered 4 Apr
  9. 2017First annual natural-resource payment (April); Halliburton loses insurance arbitration (Dec)
  10. 2018BP's cumulative pre-tax charge reaches $66.958bn
  11. 2019Texas Supreme Court rules on Anadarko's defence-cost coverage dispute, 25 Jan
  12. 2024NOAA stock assessment for Barataria Bay dolphins (Jun): maximum reduction 45%, 35 years to recover
  13. 2025Mid-Barataria sediment diversion termination agreed (Jul); Treasury RESTORE tables show $3,887.3m allocated and $2,593.0m obligated or transferred (1 Oct); $2.44bn of natural-resource money spent by year-end; BP leads Gulf lease sale, 51 blocks (Dec)
  14. 2026US Interior Department approves BP's Kaskida project in the Gulf (Mar); next Trustee programmatic review expected late 2026
  15. 2031Last scheduled natural-resource payment

What was said

Claims, in the words of those who made them.

“the largest criminal resolution in U.S. history”

“the largest civil penalty in the history of environmental law”

“the largest environmental penalty of all time”

“BP's conduct was reckless. Transocean's conduct was negligent. Halliburton's conduct was negligent.”

“Losses are borne as they arise, rather than being spread over time through insurance premiums.”

“we recognized a gain on the loss of the rig in the amount of $267 million”

“BP Exploration & Production, Inc. ('BPXP') is subject to enhanced civil penalties under the Clean Water Act ('CWA'), 33 U.S.C. § 1321(b)(7)(D), as the discharge of oil was the result of BPXP's gross negligence and BPXP's willful misconduct.”

“generally restricts its purchase of insurance to situations where this is required for legal or contractual reasons”

“Deepwater Horizon had an insured value of $560 million, and there was no deductible for the total loss of the unit.”

“agreed to discontinue its attempts to recover as an additional insured”

Where accounts differ

Each party's account, side by side, with its source. The record does not settle these points; it shows them.

Who was at fault for the blowout?
Company or project
BP (internal report)

Described the accident as multi-party, with a large share attributed to the drilling contractor and the cement company.

Courts
US District Court, E.D. La.

Found gross negligence and willful misconduct by BP; apportioned fault 67% BP, 30% Transocean (negligent), 3% Halliburton (negligent).

US District Court, E.D. Louisiana
Had the Gulf returned to its pre-spill condition by 2015?
Company or project
BP

Its 16 March 2015 report said the Gulf had returned to baseline, fish populations were sound and heavily oiled marsh shoreline had fallen from 86 to 0.7 miles.

Government and regulators
NOAA

Said the same day that BP had misinterpreted and misapplied the data and that effects would most likely last for generations.

Government and regulators
Head of Louisiana's coastal protection agency

Said BP had used the data selectively.

How large was the decline of Barataria Bay dolphins and how long will recovery take?
Government and regulators
Deepwater Horizon Trustees (2016)

Up to a 51% decrease; about 39 years to recover without restoration.

Deepwater Horizon Natural Resource Damage Assessment Trustees
Researchers
Marine Mammal Commission analysis

51% mean decline; about 32 years to recover under the refined model.

Marine Mammal Commission
Government and regulators
NOAA stock assessment (June 2024)

45% maximum reduction; 35 years to recover to 95% of baseline.

NOAA Fisheries
Was BP covered under Transocean's liability policies?
Company or project
BP

Claimed additional-insured status under Transocean's $750 million of policies.

Carrier Management / Reuters
Company or project
Transocean's insurers

Argued the cover reached only liabilities Transocean assumed in the drilling contract, which excluded subsurface pollution.

Rivkin Radler
Courts
Texas Supreme Court (13 February 2015)

Held BP is an additional insured only for liabilities Transocean assumed (above-surface pollution), so it has no coverage for subsurface pollution.

Rivkin Radler
How much oil was released?
Government and regulators
US government

Estimated about 4.9 million barrels released gross.

NOAA Office of Response and Restoration
Courts
Judge Barbier (January 2015)

Found 4.0 million barrels released and 3.19 million discharged after subtracting about 810,000 barrels collected.

KUNC (AP)
Government and regulators
United States (at trial)

Argued 4.2 million barrels.

KUNC (AP)
Company or project
BP (at trial)

Argued 2.45 million barrels.

KUNC (AP)

How it looked

What was shown, beside what was recorded.

Shown

  • The largest criminal resolution in US history
    US Department of Justice, on BP's guilty plea (2013) · US Department of Justice
  • The largest civil penalty in the history of environmental law
    US Department of Justice (2015) · US Department of Justice
  • The largest environmental penalty of all time
    Loretta Lynch, US Attorney General (2016) · US Department of Justice
  • Press wording "the largest environmental settlement in US history" was not used by the DOJ.
    Press reports
  • In May 2010, while the well was still flowing, BP's then chief executive said, as paraphrased in the reports reviewed, that the Gulf was a very large ocean and that the environmental impact would most likely be very modest.
    Tony Hayward, then CEO of BP
  • On 16 March 2015 BP's own report said the Gulf had returned to its pre-spill baseline, fish populations were sound and heavily oiled marsh shoreline had fallen from 86 miles to 0.7 miles; BP's vice president for environmental restoration said predictions of catastrophe had not come true.
    BP report, 16 March 2015

Recorded

  • BP booked a $67.0bn cumulative pre-tax charge by end-2018 and an $11.857bn tax credit in 2010.
    BP p.l.c. (SEC filing)
  • The $5.5bn civil penalty is not tax-deductible; US PIRG estimated that $15.3bn of the $20.8bn settlement could be deducted, a tax benefit to BP of about $5.35bn.
    Accounting Today
  • Natural-resource money spent by end-2025: $2.44bn of up to $8.8bn (about 28%).
    Deepwater Horizon Trustee Council
  • BP profit attributable to shareholders, 2011-2025: $75.4bn; dividends and buybacks 2021-2025: $56.2bn.
    BP p.l.c. (SEC filing)
  • No Trustee document from 2024-2026 describes any injured resource as "restored" or "recovered"; the Trustees' next programmatic review is expected in late 2026.
    Deepwater Horizon Natural Resource Damage Assessment Trustees
  • Barataria Bay dolphins: up to 45% reduction, 35 years to recover (NOAA, 2024); the 2016 Trustee estimate was up to 51% and about 39 years.
    NOAA Fisheries
  • Fault: BP 67%, Transocean 30%, Halliburton 3% (court, 2014); no individual imprisoned.
    US District Court, E.D. Louisiana
  • On the day BP's 2015 report appeared, NOAA said BP had misinterpreted and misapplied the data and that effects would most likely last for generations; the head of Louisiana's coastal protection agency said BP had used the data selectively. The report had not been peer reviewed and the official damage assessment was not finished.
  • The Nature Conservancy accepted about $10 million in cash and land from BP over the years and gave BP a seat on its International Leadership Council (reported 24 May 2010); Conservation International received $2 million from BP, and BP's chief executive John Browne sat on its board from 2000 to 2006.

Who gained

Money that reached nature, beside money that stayed elsewhere.

Reached nature or the ground

$2.4bn
Only the Trustees publish money actually spent. RESTORE and NFWF figures are receipts or obligations.
Natural-resource damages spent by the Trustees$2.4bn
Window: 2016–2025
Of $5,538.4m received including interest; $897.0m allocated but unspent, $2,199.4m unallocated.
Natural-resource damages under the 2016 settlement (paid until 2031) commitment$8.8bn
Window: 2016–2031
$8.1bn including $1bn early restoration, plus up to $700m for unknown conditions.
NFWF Gulf Environmental Benefit Fund, received from criminal pleas$2.5bn
Window: 2013–2018
NFWF's page lists 209 projects worth over $1.7bn (undated); an earlier snapshot said over $2.3bn. The discrepancy is unresolved.
RESTORE Act trust fund, obligated or transferred$2.6bn
Window: to 1 Oct 2025
Obligations; actual spending is not published. Gross allocations as of 1 October 2025: $3,887.3m, of which $2,593.0m obligated or transferred. RESTORE receives 80% of Clean Water Act penalties.

Gained elsewhere

Not totalled
BP profit attributable to shareholders$75.4bn
Window: 2011–2025
Sum of 15 annual results; underlying replacement-cost profit was $167,243m.
BP dividends and share buybacks estimate$56.2bn
Window: 2021–2025
$23,533m dividends + $32,678m net buybacks, cash-flow basis.
Gross value of BP's Gulf of Mexico production estimate≈ $108bn
Window: 2011–2025
About 1.5bn boe × annual prices; $107.9–116.5bn by method. Gross value, not profit.
BP tax credit on spill costs$11.9bn
Window: 2010
Transocean: hull insurance received for the rig$560m
Window: 2010
Recorded a $267m gain on the loss.
BP cumulative pre-tax charge for the spill$67bn
Window: to end-2018
BP 2018 Form 20-F.
Portion of the 2015 settlement estimated tax-deductible by US PIRG estimate$15.3bn
Window: 2016-2031
Currency: USD · Window: Mixed — see each line. Figures cover different periods and are not compared as a ratio. * Estimate built from cited figures.

Responses on record

  • bp: BP's internal investigation report described the blowout as a multi-party accident, assigning a large share to the drilling contractor and the cement company.
  • bp (2015-03-16): Reported on 16 March 2015 that the Gulf had returned to its pre-spill baseline, fish populations were sound, and heavily oiled marsh shoreline had fallen from 86 miles to 0.7 miles; its vice president for environmental restoration said predictions of catastrophe had not come true.
  • bp (2012-02): In its February 2012 filing said it was seeking reimbursement for personal injury and death claims under its insurance and indemnity rights in the Transocean contract and that no recovery amounts had been recognized. · BP p.l.c. (SEC filing)
  • bp (2015-05-20): Agreed to discontinue its attempts to recover as an additional insured under Transocean's policies and to pay Transocean $125 million for legal fees; Transocean received the payment on 3 July 2015. · Transocean (SEC filing)
  • transocean (2011): Reported receiving $560 million in cash proceeds from insurance recoveries in 2010 and recognizing a $267 million gain on the loss of the rig. · Transocean (SEC filing)
  • anadarko (2012): Reported that it paid $4.0 billion and transferred its interest in the Macondo well and lease to BP, accepted by BP in satisfaction of $6.1 billion of invoices, partly offset by a $163 million gain from insurance recoveries in the fourth quarter of 2011. · Anadarko (SEC filing)
  • moex (2011-05-20): Agreed on 20 May 2011 to pay BP $1.065 billion; BP said it would apply this to the $20 billion trust and indemnifies MOEX for compensatory claims, excluding fines, penalties and punitive damages. · Oil & Gas Journal
  • halliburton (2014-09): Settled the MDL claims for about $1.1 billion (September 2014). · Halliburton (SEC filing)
  • halliburton (2016): Sought reimbursement from its insurers; carriers on the final layer of about $200 million refused. · Halliburton (SEC filing)
  • bp (2011-03-02): Its 2010 Form 20-F said it generally restricts its purchase of insurance to situations where this is required for legal or contractual reasons, and that losses are borne as they arise. · BP p.l.c. (SEC filing)
  • transocean (2015-05): Paid its class settlement of $211.75 million from cash on hand, not insurance (final approval 15 February 2017). · Transocean (SEC filing)
  • chubb (2017-12): Argued that Halliburton's settlement was not a reasonable settlement; the arbitration award of 5 December 2017 went to Chubb. · UK Supreme Court

In court and with insurers

Every proceeding and every insurer decision on record.

Lawsuits and rulings

  1. 2012–2013Guilty plea$4bn fine
    United States v. BP Exploration & Production (criminal plea)
    US District Court, E.D. Louisiana (Judge Sarah Vance) · Criminal · US Department of Justice → BP Exploration & Production Inc.

    BP pleaded guilty to 14 counts, including 11 felony counts of seaman's manslaughter and one of obstruction of Congress, and was sentenced on 29 January 2013 to $4bn in fines and penalties and five years' probation. The criminal payments included $2.544bn for the National Fish and Wildlife Foundation's Gulf Environmental Benefit Fund. US Department of Justice

  2. 2013–2013Guilty plea$400m fine
    United States v. Transocean Deepwater (criminal plea)
    US District Court, E.D. Louisiana (Judge Milazzo) · Criminal · US Department of Justice → Transocean Deepwater Inc.

    Transocean pleaded guilty to one Clean Water Act count; the plea was accepted on 14 February 2013. US Department of Justice

  3. 2013Settled$1bn settlement
    United States v. Transocean (Clean Water Act civil penalty)
    US District Court, E.D. Louisiana · Civil · United States → Transocean

    Transocean agreed to a $1bn civil Clean Water Act penalty in January 2013, alongside its $400m criminal plea. US Department of Justice

  4. 2013–2013Guilty plea$0.2m fine
    United States v. Halliburton Energy Services (criminal plea)
    US District Court, E.D. Louisiana · Criminal · US Department of Justice → Halliburton Energy Services

    Halliburton pleaded guilty in July 2013 and paid a $200,000 fine, plus a voluntary $55m to NFWF.

  5. 2012Settled$525m settlement
    SEC v. BP p.l.c.
    US Securities and Exchange Commission · Regulatory · US Securities and Exchange Commission → BP p.l.c.

    BP agreed in November 2012 to pay a $525m civil penalty over three years.

  6. 2012–2014Settled
    EPA suspension of BP from federal contracts
    US Environmental Protection Agency · Administrative · US Environmental Protection Agency → BP

    EPA suspended BP from new federal contracts on 28 November 2012, citing "lack of business integrity"; an administrative agreement resolved the suspension on 13 March 2014. US Environmental Protection Agency

  7. 2014Claimant won
    In re Oil Spill by the Oil Rig Deepwater Horizon (MDL 2179), Phase One
    US District Court, E.D. Louisiana (Judge Carl Barbier) · Civil · United States, Gulf states and private plaintiffs → BP Exploration & Production, BP America Production, Transocean, Halliburton

    The court found on 4 September 2014 that the discharge resulted from BPXP's gross negligence and willful misconduct, raising the Clean Water Act maximum from $1,100 per barrel to about four times that, and apportioned fault 67% BP, 30% Transocean and 3% Halliburton. US District Court, E.D. Louisiana

  8. 2014Defendant won
    MDL 2179, BP motion to amend Phase One findings
    US District Court, E.D. Louisiana · Civil · BP → United States and other plaintiffs

    BP's motion to amend the findings or for a new trial was denied on 13 November 2014.

  9. 2015Claimant won
    MDL 2179, Phase Two (quantity of oil)
    US District Court, E.D. Louisiana (Judge Carl Barbier) · Civil · United States → BP Exploration & Production

    On 15 January 2015 the court found 4.0 million barrels left the reservoir and 3.19 million reached the Gulf; at trial the US had argued 4.2 million and BP 2.45 million. KUNC (AP)

  10. 2016Settled
    BP appeal of the Phase One ruling
    US Court of Appeals, Fifth Circuit · Appeal · BP → United States and other plaintiffs

    The Fifth Circuit held the appeal in abeyance on 22 July 2015; no appellate ruling was found, and the dispute was closed by the 2016 consent decree.

  11. 2016Settled$20.8bn settlement
    United States and five Gulf states v. BP (consent decree)
    US District Court, E.D. Louisiana (Judge Carl Barbier) · Civil · United States; Alabama, Florida, Louisiana, Mississippi, Texas → BP Exploration & Production

    Announced 5 October 2015 and entered 4 April 2016: a $5.5bn Clean Water Act penalty (80% to RESTORE), $8.1bn natural-resource damages plus up to $700m, other federal claims and up to $5.9bn in state and local economic claims, paid until 2031. US Department of Justice

  12. 2015Settled$5.9bn settlement
    Gulf states and local governments v. BP (economic claims agreement)
    Separate agreement with the 2015 settlement · Civil · Five Gulf states and local governments → BP

    $4.9bn to the five states and up to $1bn to local governments; about $687.4m had reached 383 local entities by August 2015. US Department of Justice

  13. 2012Settled$7.8bn settlement (BP estimate, uncapped)
    Plaintiffs' Steering Committee economic and property damages settlement
    US District Court, E.D. Louisiana · Class action · Gulf businesses and individuals (class) → BP

    Approved on 21 December 2012; BP's 2012 estimate was about $7.8bn including a $2.3bn seafood fund, and NOAA in 2016 put estimated private-claim payments at $14.8bn. No final paid total was found. NOAA

  14. 2012Settled
    Medical benefits class settlement
    US District Court, E.D. Louisiana · Class action · Clean-up workers and coastal residents (class) → BP

    About 37,000 claims were filed and about 78% were initially rejected; 40 of about 23,000 approved claimants received the top award of $60,700. Fortune

  15. 2014Settled$1.1bn settlement
    Punitive-damages and assigned-claims classes v. Halliburton
    US District Court, E.D. Louisiana · Class action · Punitive-damages and assigned-claims classes → Halliburton

    Halliburton agreed on 2 September 2014 to pay $1.1bn, including fees, into a trust in three instalments. Halliburton (SEC filing)

  16. 2015Settled$211.75m settlement
    Plaintiffs' Steering Committee classes v. Transocean
    US District Court, E.D. Louisiana · Class action · Two plaintiff classes → Transocean

    Agreed in May 2015 and given final approval on 15 February 2017; Transocean paid from cash on hand, not insurance. Transocean (SEC filing)

  17. 2015Claimant won$159.5m fine
    United States v. Anadarko (Clean Water Act penalty)
    US District Court, E.D. Louisiana · Civil · United States → Anadarko Petroleum

    A $159.5m civil penalty was imposed on 30 November 2015 on the 25% well partner and paid in early 2016. NBC News

  18. 2015Dismissed
    United States v. Kaluza and Vidrine (manslaughter counts)
    US District Court, E.D. Louisiana; Fifth Circuit · Criminal · US Department of Justice → Kaluza and Vidrine, BP well site leaders

    The 11 seaman's manslaughter counts were dismissed by the trial court and the dismissal was upheld by the Fifth Circuit in 2015; the involuntary manslaughter counts were later dropped. US Department of Justice

  19. 2016Guilty plea
    United States v. Vidrine (Clean Water Act misdemeanor)
    US District Court, E.D. Louisiana · Criminal · US Department of Justice → Vidrine, BP well site leader

    Vidrine pleaded guilty to negligent discharge of oil and was sentenced in April 2016 to 10 months' probation. The Maritime Executive

  20. 2016Defendant won
    United States v. Kaluza (Clean Water Act count)
    US District Court, E.D. Louisiana · Criminal · US Department of Justice → Kaluza, BP well site leader

    A jury acquitted Kaluza of the Clean Water Act count in February 2016. US Department of Justice

  21. 2015Defendant won
    United States v. Rainey
    US District Court, E.D. Louisiana · Criminal · US Department of Justice → Rainey, BP vice-president

    Charged with obstruction of Congress and false statements; acquitted by a jury in June 2015. US Department of Justice

  22. 2013Overturned on appeal
    United States v. Mix (obstruction conviction)
    US District Court, E.D. Louisiana · Criminal · US Department of Justice → Kurt Mix, BP engineer

    Mix was convicted of obstruction of justice in December 2013; the conviction was vacated for juror misconduct. US Department of Justice

  23. 2015Guilty plea
    United States v. Mix (misdemeanor plea)
    US District Court, E.D. Louisiana · Criminal · US Department of Justice → Kurt Mix, BP engineer

    Mix pleaded guilty to a misdemeanor of damaging a computer and was sentenced in November 2015 to six months' probation. US Department of Justice

  24. 2010–2011Defendant won$750m claimed
    In re Deepwater Horizon: BP as additional insured under Transocean's policies (trial court)
    US District Court, E.D. Louisiana (MDL 2179) · Civil · BP (with Anadarko and MOEX) → Transocean's insurers

    On 15 November 2011 the court limited BP's cover to the scope of Transocean's indemnity in the drilling contract and entered judgment against BP, Anadarko and MOEX. Transocean (SEC filing)

  25. 2013Overturned on appeal
    In re Deepwater Horizon: Fifth Circuit ruling for BP (withdrawn)
    US Court of Appeals, Fifth Circuit · Appeal · BP → Transocean's insurers

    On 1 March 2013 the Fifth Circuit held BP an "unrestricted additional insured"; it withdrew that opinion on 29 August 2013 and certified questions to the Texas Supreme Court. Transocean (SEC filing)

  26. 2013–2015Defendant won$750m claimed
    In re Deepwater Horizon, No. 13-0670 (BP v. Transocean's insurers)
    Supreme Court of Texas · Appeal · BP → Ranger Insurance and Transocean's excess insurers (Lloyd's and others)

    On 13 February 2015 the court held that BP was an additional insured only for liabilities Transocean assumed in the drilling contract, and so had no cover for subsurface pollution. Rivkin Radler

  27. 2015Settled$125m paid (by BP, for Transocean's legal fees)
    BP–Transocean settlement
    Out of court · Civil · BP → Transocean

    Announced 20 May 2015: BP dropped its attempts to recover as an additional insured and paid Transocean $125m for legal fees. Transocean (SEC filing)

  28. 2011Settled$4bn settlement
    BP–Anadarko settlement (well costs)
    Out of court · Civil · BP → Anadarko Petroleum

    Anadarko paid BP $4bn and transferred its 25% interest in the well and lease in October 2011, in satisfaction of $6.1bn of invoices. BP pays Anadarko 12.5% of third-party recoveries above $1.5bn, capped at $1.0bn. Anadarko (SEC filing)

  29. 2011Settled$1.06bn settlement
    BP–MOEX settlement (well costs)
    Out of court · Civil · BP → MOEX (Mitsui Oil Exploration)

    MOEX agreed on 20 May 2011 to pay BP $1.065bn, which BP said would go to its $20bn trust. BP indemnifies MOEX for compensatory claims, excluding fines, penalties and punitive damages. Oil & Gas Journal

  30. 2012Settled$250m settlement
    BP–Cameron settlement
    Out of court · Civil · BP → Cameron International

    Cameron, maker of the blowout preventer, paid BP $250m in January 2012; about $167.5m was funded by its insurers. Cameron (SEC filing)

  31. 2011Settled$75m settlement
    BP–Weatherford settlement
    Out of court · Civil · BP → Weatherford

    Reported at $75m; BP's filings combine MOEX and Weatherford payments into its trust at $1,140m. BP p.l.c. (SEC filing)

  32. 2017Defendant won
    Halliburton v. Chubb Bermuda (insurance arbitration)
    London arbitration (Bermuda Form) · Arbitration · Halliburton → Chubb Bermuda Insurance

    A final partial award of 5 December 2017 found for Chubb, which had argued that Halliburton's settlement "was not a reasonable settlement". UK Supreme Court

  33. 2020Dismissed
    Halliburton v. Chubb Bermuda [2020] UKSC 48
    UK Supreme Court · Appeal · Halliburton → Chubb Bermuda Insurance

    The appeal concerned only arbitrator bias and was dismissed on 27 November 2020. UK Supreme Court

  34. 2019Claimant won
    Anadarko v. Houston Casualty and Lloyd's underwriters, No. 16-1013
    Supreme Court of Texas · Appeal · Anadarko Petroleum → Houston Casualty and other excess insurers

    On 25 January 2019 the court held that the joint-venture cap does not limit Anadarko's defence costs of more than $100m, and sent the case back to the trial court. Hunton Andrews Kurth

Insurers

  1. 2010Self-insured$700m policy limit; reserves set at limit
    Jupiter Insurance Ltd (BP's captive, Guernsey) → BP
    Stated reason: BP "generally restricts its purchase of insurance to situations where this is required for legal or contractual reasons"

    BP self-insured through its captive, which bought no outward reinsurance and covered property damage and business interruption; whether it paid out is not documented. BP's 2010 Form 20-F says the group has borne and will continue to bear the entire burden of its share of property damage, well control, clean-up and third-party liability costs. Business Insurance

  2. 2010Paid$560m paid (total loss, no deductible)
    Hull and machinery underwriters → Transocean

    Underwriters declared the rig a total loss; Transocean received $560m in cash and recorded a $267m gain on the loss. Further cover of up to $140m each existed for mitigation costs and wreck removal; the contract backlog was about $590m. Transocean (SEC filing)

  3. 2015Paid$538m recovery of previously incurred losses
    Transocean excess liability insurers, layers one to four → Transocean

    Insurance first paid crew and contractor injury and death claims; after BP dropped its claim, Transocean recognised $538m and said the fourth layer was exhausted. Transocean (SEC filing)

  4. 2016In litigation$30m recovered
    Bermuda market insurers (fifth layer, $250m) → Transocean
    Stated reason: Insurers "asserted various coverage defenses"; Chubb argued claims were "not reasonably settled"

    Transocean issued arbitration notices; it reported about $30m of recoveries in 2016 and none in 2017. The final result was not found. Transocean (SEC filing)

  5. 2015Claim refused$750m claimed, not paid
    Ranger Insurance ($50m primary) and Lloyd's and other excess underwriters ($700m) → BP (claimed additional insured on Transocean's policies)
    Stated reason: BP was an additional insured only for liabilities Transocean assumed in the drilling contract, which excluded subsurface pollution

    The insurers won in the Texas Supreme Court in February 2015; BP then dropped its claim. Rivkin Radler

  6. 2011Paid$163m recovered, booked as gain
    Anadarko's insurers (not named) → Anadarko Petroleum

    Anadarko recognised a $163m gain for insurance recoveries in the fourth quarter of 2011, the year it paid BP $4bn. Anadarko (SEC filing)

  7. 2019Partly paid$37.5m paid (25% of limit)
    Lloyd's underwriters and Houston Casualty (excess, $150m limit) → Anadarko Petroleum
    Stated reason: Joint-venture liability cap

    The insurers paid $37.5m; the Texas Supreme Court ruled in 2019 that the cap does not limit defence costs and sent the case back. Hunton Andrews Kurth

  8. 2015Partly paid$403m reimbursed of about $1.5bn costs
    Halliburton general liability programme ($600m) → Halliburton

    Of about $1.5bn in settlement and legal costs, $403m was reimbursed under Halliburton's insurance programme. Halliburton (SEC filing)

  9. 2017Claim refused$200m not reimbursed (about)
    Chubb Bermuda (top layer) → Halliburton
    Stated reason: "Halliburton's settlement was not a reasonable settlement"; Chubb had not consented

    Carriers on the final layer refused to reimburse about $200m; the London arbitration ended in Chubb's favour in December 2017. Halliburton (SEC filing)

  10. 2012Paid$167.5m paid toward $250m settlement with BP
    Cameron's insurers → Cameron International

    The only documented insurer-funded money that went into the BP trust that also funds natural-resource damages; Cameron pursued a further $50m from one non-consenting insurer. Cameron (SEC filing)

  11. 2010No policy found$600m estimated ultimate claims (upper end of $300–600m)
    Lloyd's market → Various parties

    Lloyd's estimated its ultimate Deepwater Horizon claims at $300m to $600m; Moody's put the total insured market loss at $1.4bn to $3.5bn. The estimate was unchanged from Lloyd's May 2010 announcement. Lloyd's

  12. 2010No policy found$950m excess liability cover (annual aggregate for the whole fleet)
    Transocean's commercial excess liability insurers → Transocean

    Transocean had $950m of commercial excess liability cover, paid a $65m deductible and generally retains the risk above $1.0bn. How much of the layer was paid and to whom is not on record. Transocean (SEC filing)

  13. 2010No policy found
    Upstream energy insurance market (Willis Energy Market Review) → Deepwater Horizon and Aban Pearl losses

    Claims to the market were "well in excess of $1.2 billion"; the two rig losses cost upstream insurers $795m within one month. Insurance Journal

  14. 2010No policy found
    Munich Re → Deepwater Horizon reinsured losses

    Reported a potential loss of over $128m. Atlas Magazine

  15. 2010No policy found
    Swiss Re → Deepwater Horizon reinsured losses

    Estimated industry losses at $1.5bn-$3.5bn and its own participation at about $200m. Atlas Magazine

  16. 2010No policy found
    Hannover Re → Deepwater Horizon reinsured losses

    Expected a claim of about EUR 40m ($53.5m) in May 2010; later reported as $51m. Business Insurance

What nature saw

Outcomes measured on the ground, and nature's note.

Nature's report opens this page. Below: further outcomes measured on the ground.

Natural-resource money spent
About 28%
$2.44bn of up to $8.8bn, to end-2025
Resources declared recovered
None
No Trustee document 2024–2026 says "restored" or "recovered"
Barataria Bay dolphins
35 years
Time to recover to 95% of baseline (NOAA, 2024)
Barataria Bay dolphins, maximum reduction
45%
NOAA stock assessment, June 2024
Barataria Bay dolphins, 2016 Trustee estimate
up to 51%
About 39 years to recover without restoration
Large juvenile and adult sea turtles killed
4,900-7,600
Trustees; small juveniles 56,000-166,000

What we don't know

Undisclosed, unproven, untried: recorded as data.
Court ruling existsDeaths reportedKey earnings undisclosed

Nature

  • Disputed Had the Gulf returned to its pre-spill condition by 2015?
  • Disputed How large was the decline of Barataria Bay dolphins and how long will recovery take?

Insurers

  • Unclear Lloyd's market: no decision on record.
  • Unclear Transocean's commercial excess liability insurers: no decision on record.
  • Unclear Upstream energy insurance market (Willis Energy Market Review): no decision on record.
  • Unclear Munich Re: no decision on record.
  • Unclear Swiss Re: no decision on record.
  • Unclear Hannover Re: no decision on record.

Accounts

  • Disputed Who was at fault for the blowout?
  • Disputed Was BP covered under Transocean's liability policies?
  • Disputed How much oil was released?

Record

  • None on record The tax deduction BP actually took on the 2016 settlement has not been disclosed; the $5.35bn tax benefit is a US PIRG estimate.
  • Unclear Whether BP's captive insurer Jupiter paid any of its $700m limit, and to whom.
  • Not disclosed Final totals paid under the economic-loss and medical class settlements: not published.
  • Unclear Actual RESTORE Act spending: only allocations and obligations are published.
  • None on record The NFWF awarded total and its date ($1.7bn on the live page vs $2.3bn in an older snapshot).
  • None on record The final outcome of Transocean's arbitration with its fifth-layer Bermuda insurers.
  • None on record BP's appeal of the 2014 gross-negligence ruling: no appellate ruling found; it appears to have been closed by the 2016 settlement.
  • Unclear Whether any insurance money reached restoration: the only documented link is $167.5m from Cameron's insurers paid into the BP trust that also funds natural-resource damages; it cannot be traced to specific spending.
  • None on record The exact rig dayrate in force in April 2010: about $500,000 a day is widely cited, but no primary document was found.
  • Disputed Estimates of the Barataria Bay dolphin decline differ: up to 51% (Trustees, 2016), 51% (Marine Mammal Commission), 45% (NOAA, June 2024).
  • Disputed Estimates of the oil volume differ: about 4.9 million barrels gross (US government), 4.0 million released and 3.19 million discharged (court, January 2015).
  • None on record BP's own recovery from Transocean's policies: no document shows BP recovered anything; BP's February 2012 filing said it was seeking reimbursement and that no recovery amounts had been recognised.
  • None on record The final insured market loss: estimates vary, including Moody's $1.4bn to $3.5bn, Swiss Re $1.5bn to $3.5bn and Lloyd's own-market claims of $300m to $600m.
  • Insufficient Reported but not independently verified: that bacteria consumed at least 200,000 tonnes of oil and gas while the fate of about 40% of the hydrocarbons is unknown.
  • Disputed Sources reviewed give different figures for the other federal claims element of the 2015 settlement: $250m in one reading of the Justice Department fact sheet and about $600m in another.

Did the harm stop?

The flow stopped on 15 July 2010, 87 days after the explosion; the well was declared sealed on 19 September 2010. Natural-resource payments continue until 2031, and no injured resource has been declared recovered.

Who paid?

Eleven workers who died and 17 injured; Gulf wildlife and coastal communities; US taxpayers through tax deductions on non-penalty payments, according to an advocacy-group estimate.

Sources

Voices on record: ✓ Company or project✓ Government and regulators✓ Courts✓ Press and investigations✓ Communities and civil society✓ Researchers

Company or project

  2. BP Annual Report on Form 20-F 2010
    BP p.l.c. (SEC filing) · 2011-03-02
  3. BP fourth quarter and full year 2010 results
    BP p.l.c. (SEC filing) · 2011-02-01
  4. BP fourth quarter and full year 2025 results
    BP p.l.c. (SEC filing) · 2026-02-10
  5. Transocean Form 10-K 2010
    Transocean (SEC filing) · 2011
  6. Transocean Form 10-Q, Q2 2015
    Transocean (SEC filing) · 2015
  7. Transocean filing: Macondo settlement with BP
    Transocean (SEC filing) · 2015-05-20
  8. Anadarko Petroleum Form 10-K 2011
    Anadarko (SEC filing) · 2012
  9. Halliburton Form 10-K 2015
    Halliburton (SEC filing) · 2016
  10. Cameron International Form 10-K 2011
    Cameron (SEC filing) · 2012
  12. BP Form 6-K: dividend suspension
    BP p.l.c. (SEC filing) · 2010-06-16
  13. BP Form 6-K: Gulf of Mexico statement
    BP p.l.c. (SEC filing) · 2009-09-02
  14. BP third quarter 2011 results
    BP p.l.c. (SEC filing) · 2011
  15. Halliburton Form 10-Q, Q3 2014
    Halliburton (SEC filing) · 2014
  16. Halliburton Form 10-Q, Q2 2016
    Halliburton (SEC filing) · 2016
  17. Transocean Form 10-Q, Q1 2016
    Transocean (SEC filing) · 2016
  18. Transocean Form 10-K 2013
    Transocean (SEC filing) · 2014
  20. BP Annual Report on Form 20-F 2022
    BP p.l.c. (SEC filing) · 2023
  21. BP third quarter 2010 results
    BP p.l.c. (SEC filing) · 2010-11-02
  22. Anadarko 2010 Form 10-K
    Anadarko (SEC filing) · 2011

Government and regulators

  4. Deepwater Horizon consent decree fact sheet
    US Department of Justice · 2015-10
  5. Programmatic Damage Assessment and Restoration Plan: Overview
    Deepwater Horizon Natural Resource Damage Assessment Trustees · 2016-04
  6. PDARP Chapter 2: Incident overview
    Deepwater Horizon Trustees · 2016
  10. Transocean plea agreement (DOJ release)
    US Department of Justice · 2013-01
  11. Gulf Coast Restoration Trust Fund allocation tables
    US Department of the Treasury · 2025-10-01
  14. National Commission on the BP Deepwater Horizon Oil Spill, Chapter 4
    National Commission (hosted by Mother Jones) · 2011
  15. EPA suspends BP from new federal contracts
    US Environmental Protection Agency · 2012-11-28
  17. Deepwater Horizon oil spill (significant incidents)
    NOAA Office of Response and Restoration ·
  18. Affected Gulf resources
    Deepwater Horizon Natural Resource Damage Assessment Trustees ·

Courts

Press and investigations

  2. BP can tap captive for $700m in loss of rig
    Business Insurance · 2010-05-09
  3. Deepwater Horizon supervisor gets probation
    The Maritime Executive · 2016-04
  11. BP tax credit 2010
    NBC News · 2010

Communities and civil society

  1. Gulf Environmental Benefit Fund
    National Fish and Wildlife Foundation · 2026

Researchers

Connected cases

Related matters, and cases linked to this one through the same organisations, with the role each played in both.
Terms used on this page

Law and courts

Arbitration
A private dispute process in which an appointed arbitrator, instead of a court, decides the case.
Class action
A single lawsuit brought on behalf of a large group of people with similar claims.
Consent decree
A settlement with a government that a court approves and that has the force of a court order.
Natural Resource Damage Assessment (NRDA)
The US legal process in which government trustees measure harm to natural resources from a spill and claim the cost of restoring them.
Negligence and gross negligence
Negligence is a failure to take reasonable care. Gross negligence is a serious, reckless failure; under US oil-spill law a finding of gross negligence raises the maximum penalty.
Plea
In a criminal case, the defendant's formal answer to a charge. A plea agreement settles a case with a guilty plea on agreed terms.
Punitive damages
Money a court orders a defendant to pay to punish especially reckless conduct, on top of compensation for losses. Mainly used in US courts.
Trustees (natural resource)
Government agencies that act on behalf of the public to recover and spend damages for harm to natural resources.
Wilful misconduct
Deliberate wrongdoing, or acting with conscious disregard of a known risk.

Institutions

DFC
The US International Development Finance Corporation, a government agency that lends to and insures private projects abroad.
EPA
The US Environmental Protection Agency.
NOAA
The US National Oceanic and Atmospheric Administration, which leads damage assessment for coastal and marine spills.
SEC
The US Securities and Exchange Commission, which regulates securities markets and what companies tell investors.

Carbon and conservation finance

Baseline
The projected scenario of what would have happened without a project, such as an expected rate of deforestation. Credits are issued for the difference between the baseline and what actually happened, so an inflated baseline produces more credits.
Offset
Using carbon credits to balance emissions released elsewhere, so that a buyer can claim lower or zero net emissions.

Insurance

Captive insurer, self-insurance
A company covering its own risks, either directly or through an insurance company it owns.
Deductible
The part of a loss the insured party pays itself before the insurer pays.
Hull insurance
Insurance on a ship itself, covering damage to or loss of the vessel.
Premium
The price paid for an insurance policy.
Reinsurance
Insurance bought by insurers to pass part of their own risk to other companies.
Underwriter
An insurer, or a person at an insurer, who assesses a risk and decides whether and on what terms to insure it.

Places and local terms

Conservancy (Kenya)
In Kenya, land managed by a community or private owners for wildlife alongside grazing, often with outside partners.

Bonds and banking

Delaware, Guernsey, Cayman Islands
Jurisdictions widely used to register companies, funds and accounts for legal, confidentiality and tax reasons.
Guarantee
A commitment by a third party, often a development bank, to pay if the borrower does not.

Science and environment

PFOA (C8) and PFAS
PFAS are a large family of human-made chemicals that persist in the environment and the body; PFOA, also called C8, is one of them and was used to make Teflon.
Similar cases
Oil spill · Tanker / shipping · Insurance, liability and compensation funds · India · 2011–2016
MV Rak Carrier coal and oil spill (Mumbai)
Same type: Oil spill, Insurance, liability and compensation fundsCourt: won by claimantInsurer refused to pay
Insurance, liability and compensation funds · Oil spill · Canada · 2012–2026
Lac-Mégantic rail disaster (Quebec)
Same type: Insurance, liability and compensation funds, Oil spillSame regionCourt: lost by claimant, settled
Insurance, liability and compensation funds · Chemical pollution · Insurance declined or withdrawn · United States · 1929–1993
Ventron/Morton mercury, Berry's Creek
Same type: Insurance, liability and compensation fundsSame countryCourt: lost by claimant
Insurance, liability and compensation funds · Mining / tailings dam · Insurance declined or withdrawn · United States · 2008–2014
TVA Kingston coal ash spill insurance
Same type: Insurance, liability and compensation fundsSame countryCourt: won by claimant
Insurance, liability and compensation funds · Chemical pollution · United States · 2017–2021
Duke Energy coal ash insurance dispute
Same type: Insurance, liability and compensation fundsSame countryCourt: settled
Oil spill · Pipeline · United States · 2010–2017
Enbridge Line 6B oil spill, Marshall, Michigan
Same type: Oil spillSame countryCourt: lost by claimant, settled