US Government, Gulf Coast States to Offer BP Oil Spill Deal

Reuters reported that the United States government and the Gulf Coast states might offer BP Plc a deal wherein it will pay $16B to settle civil lawsuits which stemmed from the 2010 Deepwater Horizon oil spill.

As quoted in the market news:

A settlement could avert a bruising courtroom battle over the worst ever U.S. offshore oil spill slated to start on Monday in New Orleans, although the trial may begin as the terms of the deal are hammered out.

Click here to read the full Reuters report.