BP Waives $75 Million Liability Limit On Damage Claims From Gulf Oil Spill

HOUSTON—BP Exploration and Production advised a federal judge Oct. 18 that it is waiving the $75 million statutory limit on liability under the Oil Pollution Act of 1990 for damage claims from the Gulf of Mexico oil spill (In re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico on April 20, 2010).

In a statement filed with Judge Carl Barbier of the U.S. District Court for the Eastern District of Louisiana, BP said it is “not admitting anything about their conduct” and that they “specifically deny that they have engaged in any gross ...