BP pays €17bn to US gulf states for 2010 oil disaster

BP and five Gulf states have announced an $18.7bn (€16.87bn) settlement that resolves years of legal fighting over the environmental and economic damage done by the energy giant’s oil spill in 2010.

The settlement money will be used to resolve the Clean Water Act penalties; resolve natural resources damage claims; settle economic claims; and resolve economic damage claims of local governments, according to an outline filed in federal court.

The settlement involves Florida, Mississippi, Texas, Alabama and Louisiana.