BP managed to avoid further liabilities related to the Gulf spill even as it set up a $20bn compensation fund under White House pressure, officials familiar with the matter have informed the WSJ. The energy giant escaped costs for distress caused when President Obama imposed a six-month moratorium on deepwater drilling, as well as dodging the bill for restoring the Gulf beyond its pre-spill condition. An internal BP document estimating a worst-case scenario spill of 100,000 barrels per day has been released by Representative Ed Markey, Reuters adds.

This entry was posted by Joseph Cotterill on Monday, June 21st, 2010 at 9:38 and is featured in The Lunch Wrap (21 Jun 2010) . Tagged with bp, Deepwater Horizon, Gulf of Mexico, president obama. Edit this entry.