BP In $18.7 Billion Deal To Settle Deepwater Horizon Claims

BP has reached a settlement with the U.S. government and five states to settle a damages claim from the 2010 Gulf of Mexico oil spill, which will see it pay up to $18.7 billion spread over a period of 18 years.

Mirroring the latest announcement, shares of BP rose 4%, gaining 20 pence to trade at 439 pence in early afternoon trading in London.

BP’s $18.7 billion settlement

In terms of settlement unveiled Thursday, officials in Florida, Alabama, Mississippi and Louisiana announced an $18.7 billion settlement with BP that resolves years of...