BP Announces $7.8 Billion Settlement Of Gulf Oil Spill Claims

NEW ORLEANS - (Mealey's) BP PLC and plaintiffs in the federal multidistrict litigation court in Louisiana for claims arising from the explosion of the Deepwater Horizon rig and ensuing oil spill in the Gulf of Mexico reached an agreement on March 2 wherein the company would pay $7.8 billion to resolve claims seeking compensation for economic loss and personal injuries, the company announced (In re: Oil Spill by the Oil Rig "Deepwater Horizon" in the Gulf of Mexico on April 20, 2010, MDL 2179, Case No. 10-md-2179, E.D. La.). 

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