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BP reaches deal with plaintiffs over Gulf oil spill

BP PLC has reached a $7.8 billion agreement with plaintiffs suing over the massive 2010 Gulf of Mexico oil spill, according to a court order on Friday, but the company still faces claims by the U.S. government and drilling partners.

business Updated: Mar 03, 2012 11:07 IST
Reuters

BP PLC has reached a $7.8 billion agreement with plaintiffs suing over the massive 2010 Gulf of Mexico oil spill, according to a court order on Friday, but the company still faces claims by the U.S. government and drilling partners.

BP said the cost of the proposed settlement would be around $7.8 billion, including a BP commitment of $2.3 billion to help resolve loss claims related to the Gulf seafood industry.

It said the proposed settlment was not an admission of liability by the company.

First Published: Mar 03, 2012 10:58 IST