BP to Receive $250 Million From Cameron International

NY Times reported that according to BP (NYSE:BP) Cameron International, one of the contractors involved in the Gulf of Mexico oil spill, has agreed to pay $250 million to settle claims.

As quoted in the market news:

Cameron, based in Houston, designed and manufactured the so-called blowout preventer on the drilling rig, which failed to stop the oil from spilling.

Click here to read the full NY Times report.