BP reaches US deal over Macondo disaster
BP has closed the darkest chapter in its corporate history with an $18.7bn settlement deal over the 2010 Macondo disaster
After five years of close involvement with crisis management, which killed 11 rig workers and spilled millions of barrels of crude into the Gulf of Mexico, its chief executive Bob Dudley can now focus more on growth once more, and relax a little with regard to its conservative debt gearing. It now stands at 18% compared with the pre-disaster range of 20%-30%. Announcing the second-quarter results on 28 July, he said the settlement was “a landmark for all concerned” and left BP “able to chart a clearer course, but the number is huge.” That course will be dictated by its four objectives that conveniently begin with the letter D: delivery, divestments, discipline and dividend. It has brought o
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