"BP Fights to Shrink Gulf Spill Estimate to Cap Verdict"

"BP Plc, seeking to reduce potential water pollution fines of as much as $18 billion, will try to convince a judge that less oil spilled in the 2010 Gulf of Mexico disaster than the U.S. claims and that it capped the deep-sea gusher as quickly as possible."

"U.S. District Judge Carl Barbier in New Orleans, who will decide the trial set to begin today, is already weighing whether the company’s actions in causing the April 20, 2010, blowout and subsequent spill reached the level of gross negligence, which would trigger higher fines and punitive damages.

Decisions in phase two of the trial, covering the size of the spill and BP’s efforts to contain it, could mean billions of dollars to the company and its co-defendants."

Margaret Cronin Fisk and Allen Johnson report for Bloomberg September 29, 2013.

SEE ALSO:

"BP Oil Spill Trial's Second Phase, Starting Monday, Will Play Key Role in Deciding Massive Fines" (New Orleans Times-Picayune)

"In BP Trial, the Amount of Oil Lost Is at Issue" (New York Times)

"BP Trial Set To Enter Second Phase" (AP)

Source: Bloomberg, 09/30/2013