Business and Economics

BP Agrees To Tainted Fuel Settlement

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July 2, 2013 —  BP’s reportedly agreed to a $7 million settlement to resolve a class-action lawsuit that was filed last year after the oil giant recalled about 4.7 million gallons of tainted gasoline in Indiana, Illinois, Wisconsin and Ohio.  That gas processed at BP’s Whiting refinery resulted in some vehicles experiencing hard starting, stalling and mechanical-component damage.

Two Indianapolis law firms sued BP on behalf of thousands of consumers who bought  incorrectly-formulated gas in August 20-12 at more than 575 retail outlets. BP said it agreed to “compensate consumers with legitimate claims” up to a total of $5 million under the settlement. The company also says it won’t oppose a request for attorney fees of up to $2 million.

A federal court judge must approve the settlement.

The news of the settlement over the tainted gasoline came on the same day as the announcement that BP put its new 250,000 barrel-per-day crude distillation unit at the Whiting Refinery online.  The startup Monday marked a major milestone in the multi-billion dollar upgrade of the facility.  BP executives said the new unit startup returned the refinery to its processing capability of 413,000 barrels per day and paved the way for remaining upgrades to be brought on-line.

 

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