PENALTIES

BP Settles Gulf Spill for $18.7B

BP has reached an $18.7 billion settlement with the Department of Justice over the 2010 Deepwater Horizon accident that spilled more than 125 million gallons of oil into the Gulf of Mexico. The environmental disaster also claimed the lives of 11 rig workers. The agreement comes after the Supreme Court rejected BP’s appeal of a compensation deal in 2012. A federal judge was expected to rule on a Clean Water Act fine for the oil giant.