UPDATE 1-U.S. Justice, Gulf states crafting BP spill settlement

The US Federal Justice Department, and several representatives of gulf states are working to craft a final settlement agreement with British Petroleum, for the 2010 Deepwater Horizon explosion and subsequent oil spill. The deal reportedly is for sixteen billion dollars to settle the outstanding civil suits against the company. BP would not comment on an ongoing negotiation. However they stated they are ready make fair compensation, or alternatively if the amounts are not realistic, they are ready to go to court over the matter.

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UPDATE 1-U.S. Justice, Gulf states crafting BP spill settlement