BP Pays $340M Toward La. Coast Oil Spill Restoration Projects

Law360, New York (May 1, 2013, 5:13 PM EDT) -- BP PLC on Tuesday agreed to pay $340 million for restoration projects on the Louisiana coast damaged by the Deepwater Horizon oil spill, part of the $1 billion the oil giant will pony up for natural resource restoration in Gulf Coast states affected by the 2010 disaster.

BP and the Natural Resource Damage Trustee Council, a panel of federal and state agencies charged with determining the spill’s impact on the environment and implementing a response, agreed in principle on two so-called early restoration projects: a fish...
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