BP Wins $3.5B Cut Of US Claims Ahead Of Deepwater Trial

Law360, New York (February 19, 2013, 1:28 PM EST) -- The U.S. government agreed to slash the potential environmental fines facing BP PLC over the Deepwater Horizon oil spill by as much as $3.48 billion Tuesday, even as the company refused more expansive settlement proposals for next week's class action trial over the disaster.

Under the agreement between BP and the federal government approved Tuesday, 810,000 barrels of oil that BP kept from coming in contact with the seawater during the April 2010 spill will be cut out of potential fine calculations. The civil trial on...
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