NEW ORLEANS, La. (TheStreet) — BP(BP) and the plaintiffs in the Gulf of Mexico oil spill case have reached an estimated $7.8 billion settlement.
In a news release early Saturday, the U.K. petroleum giant said it had reached the settlement with the Plaintiffs’ Steering Committee, which represents diverse plaintiffs in the complex case.
The settlement, news of which comes just two days before the trial was scheduled to start, is subject to final written agreement, the release said.
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