BP will pay states $18.7 billion for 2010 Gulf of Mexico oil spill

BP has reached a settlement in the Gulf of Mexico oil spill case. The Deepwater Horizon disaster, which took place in 2010, killed 11 rig workers and blew the cap off a well, spilling hundreds of millions of gallons of crude oil into the Gulf for months. Now the company will have to pay $18.7 billion to the US government and five states over the course of 18 years.

The agreement is the "largest settlement with a single entity in American history," said Loretta Lynch , US attorney general. A record $5.5 billion will be used to cover federal penalties […]