The maximum penalty is down to $13.7 billion
A federal judge ruled on Thursday that BP’s maximum fine for the 2010 oil spill in the Gulf of Mexico will be $13.7 billion, far lower than the previous estimate of $17.6 billion.
Federal magistrate Carl Barbier found that only 3.19 million barrels had been spilled into the ocean, compared with the government’s estimate of 4.09 million.
The third phase of BP’s non-jury trial begins Tuesday, when lawyers will argue over the exact fine per barrel. After that point, the actual fine will be assigned.