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Summary BP still faces staggering fines and potentially criminal charges from the federal government.
A blockbuster trial to determine how much BP and its subcontractors owe for the massive 2010 Gulf of Mexico oil spill was delayed a week to allow for more settlement talks, a judge ruled Sunday.Tens of billions of dollars are at stake in the complex trial -- previously due to start Monday -- in which a federal judge will rule on whether deadly missteps constitute gross negligence and assign a price tag to the damages.Judge Carl Barbier adjourned the trial until March 5 for reasons of judicial efficiency and to allow the parties to make further progress in their settlement discussions.BP said in a statement that the delay was aimed at allowing it more time to continue settlement discussions and attempt to reach an agreement with the Plaintiffs Steering Committee.That committee is charged with handling the claims of thousands of people and businesses affected by the spill, which blackened beaches in five US states and devastated the Gulf Coasts tourism and fishing industries.A settlement with that committee would not mark the end of the case, nor would it resolve the bulk of BPs liabilities.BP still faces staggering fines and potentially criminal charges from the federal government and must also resolve claims brought by state and local governments.It also still hopes to shift some of the financial burden onto Transocean, which operated the Deepwater Horizon offshore drilling rig, and Halliburton, which was responsible for the faulty cement job on the runaway well.Asked about the status of settlement negotiations with the government and its subcontractors, a BP spokesman declined to comment.BP and the PSC are working to reach agreement to fairly compensate people and businesses affected by the Deepwater Horizon accident and oil spill, BP said in a joint statement with the Plaintiffs Steering Committee.
