BP reaches $7.8 billion settlement over Gulf-spill claims

04/19/2012 | Reuters

BP will pay $7.8 billion to settle property, economic and medical claims from more than 100,000 individuals and businesses affected by the Gulf of Mexico oil spill. The company is dedicated to helping restore the Gulf Coast's economy and environment, BP CEO Robert Dudley said. "This settlement provides the framework for us to continue delivering on that promise, offering those affected full and fair compensation, without waiting for the outcome of a lengthy trial process," he said.

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