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BP reaches deal with plaintiffs over Gulf of Mexico spill

By Reuters
Saturday, March 3, 2012 1:41 EDT
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Images of the BP oil spill on The Gulf of Mexico. Image via AFP.
 
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NEW YORK (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 settlement was not an admission of liability by the company.

(Reporting by Andrew Longstreth; additional reporting by Andrea Shalal-Esa in Washington; Editing by Nick Macfie)

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