News: BP Ready to settle Gulf Spill claims $BP

after five years of the Oil spill in Gulf of Mexcio in 2010. Bp has been agreed to pay the settlement of the Oil Spill claims.

The Statement was signed between BP Exploration and Production Inc., and five Gulf Coast states.

BPXP is to pay the United States a civil penalty of $5.5 billion under the Clean Water Act (CWA) – payable over 15 years. A total of $4.9 billion will be paid over 18 years to settle economic and other claims made by the five Gulf Coast states.

View the full release here.