Gulf states reach $18.7 billion settlement with BP over 2010 oil spill

AP GULF OIL SPILL PHOTO GALLERY A FILE XSE LA

BP has agreed to pay $18.7 billion in the largest environmental settlement in U.S. history. VPC (Photo: Gerald Herbert, AP) The federal government and Gulf Coast states announced a record-setting $18.7 billion settlement with BP on Thursday that resolves years of litigation over the 2010 Gulf of Mexico oil spill and delivers the largest environmental settlement ever.

The settlement announcement comes as a federal judge was preparing to rule on how much the British oil giant owed in federal Clean Water Act penalties for its role in allowing millions of gallons of oil to spew into the Gulf. BP was […]