How BP got bailed out by taxpayers

How BP got bailed out by taxpayers

August 9, 2021 Comments Off on How BP got bailed out by taxpayers By admin

It’s been a rough year for the global oil and gas industry, and the last few months have seen BP pay $2.8 billion in penalties and fines for violating the Clean Water Act and the U.S. Clean Water Rule.

But BP didn’t just get off easy, it also got a new lease on life.

BP and other oil companies have been bailed out in a deal that would allow them to refinance on the cheap in the years ahead.

BP said it will pay $10.9 billion to the U,S.

and foreign governments over the next 10 years, and will repay the debt through dividends and share buybacks.

The company said it’s also paying $1 billion in interest over that time period, which it hopes to recoup by selling bonds to the public.

The deal also gives the U

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