(MENAFN) British energy giant BP is set to pay a record USD20.8 billion to settle authorities claim for harms stemming from the deadly 2010 Gulf of Mexico oil spill, as latest reports shows.
The government stressed on the fact that BP is receiving the punishment it deserves, while also providing critical compensation for the injuries it caused to the environment and the economy.
Moreover, the tragedy led to a renovation of how the nation adjusts the oil and gas industry, plus hopes rely on the settlement to serve as a warning to companies about the need to operate safely.
"If made final, the settlement will provide the US and Gulf states with the resources and certainty needed for effective restoration planning and improvements," said the US Attorney General.
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