BBC News

BP reaches £12bn record settlement over Gulf oil spill

British Petroleum has agreed to pay the largest settlement by a single company in US history over the Gulf of Mexico oil spill.

The deal, which is still awaiting approval, will be worth $18.7bn (£12bn).

Over 125 million gallons of oil were spilt into the Gulf after an explosion at the Deepwater Horizon oil rig in 2010.

Tim Allman reports.