BP to pay £12bn for Gulf oil spill
2 July 2015
BP has reached an $18.7bn (£12bn) settlement with the US Department of Justice (DoJ) following the 2010 Gulf of Mexico oil spill.
It comes as a US federal judge was expected to rule on how much BP owed in Clean Water Act penalties following the environmental disaster.
Over 125 million gallons of oil spewed into the Gulf after an explosion at the Deepwater Horizon oil rig in 2010.
The settlement is the largest paid by a single company in US history .
The Deepwater Horizon oil spill was one of the worst environmental disasters in US history and claimed the lives of 11 people.
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