BP secures money for damage fund

Posted on August 12th, 2010 No Comments

In order to secure the funds for the $20 billion damage fund, BP has put their U.S. collection revenues up for collateral.¬† The money made in U.S. collection makes about a quarter of the company’s annual output.

This deal was made with the White House and announced on Wednesday. The deal means that any revenues made  in the oil and gas industry in the U.S. will be given to the administrator of the BP damage fund to ensure that the victims of the oil spill receive the money from claims they file as a first priority.

BP’s largest producing region in the U.S. is the Gulf of Mexico where it has 89 wells that are operated. On Monday, the first $3 billion were put into the fund to be administered by the mediator.

If you or a loved one are looking to file a claim after the oil spill, you need experienced representation on your side. Contact the Gulf oil spill claims process lawyers of Williams Kherkher by calling

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