Gulf Blowout Preventer Maker To Cough Up $250M To BP

Law360, New York (December 16, 2011, 1:28 PM EST) -- Cameron International Corp., which made the failed Deepwater Horizon blowout preventer, has agreed to pay $250 million to settle claims brought by BP PLC over liability for the April 2010 oil spill in the Gulf of Mexico, BP said Friday.

As part of the settlement, Cameron and BP have agreed to drop claims against each other in sprawling Louisiana multidistrict litigation over the spill. BP will also indemnify Cameron for compensatory claims including environmental damages, but excluding civil, criminal or administrative fines and penalties or claims...
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