BP reached a record $18.73-billion agreement with the U.S. government and five Gulf states Thursday to resolve most legal claims stemming from its 2010 Deepwater Horizon oil spill in the Gulf of Mexico, considered the biggest environmental catastrophe in the U.S. The settlement is the largest environmental settlement in U.S. history. If approved by the court, the settlement will require BP to pay the federal government $5.5 billion in civil penalties for violating the Clean Water Act. NP subsidiary BPXP will make those payments over a 15-year period. The U.S. Department of Justice (DOJ) said that 80 percent of the Clean ... Read More
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