BP reaches £4.9bn Gulf oil spill deal

The proposed settlement will benefit fishermen, local residents and clean-up workers whose livelihoods or health suffered in the worst spill in US history following the Deepwater Horizon oil rig explosion in 2010 in which 11 workers died.

Bob Dudley, BP Group's chief executive, said: "From the beginning, BP stepped up to meet our obligations to the communities in the Gulf Coast region and we've worked hard to deliver on that commitment for nearly two years.

"The proposed settlement represents significant progress toward resolving issues from the Deepwater Horizon accident and contributing further to economic and environmental restoration efforts along the Gulf Coast."

Read more: http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/9120462/BP-reaches-4.9bn-Gulf-oil-spill-deal.html