BP Agrees to $18.7B Deepwater Settlement
It could save them years of litigation while costing them a fortune. BP has agreed to pay the biggest-ever settlement by a single firm over the Deepwater Horizon oil spill. The deal, reached with the U.S. Department of Justice but yet to be approved by a judge, aims to settle federal and state claims linked to the deadly and environmentally devastating 2010 disaster. News of the agreement, which BP expects will increase its total outlay to around $54 billion, saw BP shares rise 4.6 percent.