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U.S. to propose $16 billion Gulf spill settlement with BP: WSJ

US authorities plan to propose a $16 billion settlement to British energy giant BP for civil claims related to the disastrous 2010 oil spill in the Gulf of Mexico, The Wall Street Journal said. Citing people familiar with the discussions, the newspaper said late Friday that the settlement would cover…

BP says U.S. oil spill trial could ‘last until 2014′

LONDON — British energy giant BP is prepared for a multi-billion-dollar US legal case into the massive Gulf of Mexico oil spill to last until 2014, its chief executive told the Sunday Telegraph. The London-listed company heads to a US court on Monday in an attempt to determine how much…