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BP, Anadarko Settle Gulf Disaster Claims
October 17, 2011

Thick crude oil from the BP Deepwater Horizon oil spill is seen collected in the Bay Jimmy marsh section of Barataria Bay near Port Sulphur, Louisiana, USA, on June 20, 2010. British oil company BP says that Anadarko Petroleum Co. has agreed to pay $4 billion to settle all claims between them resulting from the Gulf of Mexico oil spill. (EPA Photo/Erik S. Lesser) Thick crude oil from the BP Deepwater Horizon oil spill is seen collected in the Bay Jimmy marsh section of Barataria Bay near Port Sulphur, Louisiana, USA, on June 20, 2010. British oil company BP says that Anadarko Petroleum Co. has agreed to pay $4 billion to settle all claims between them resulting from the Gulf of Mexico oil spill. (EPA Photo/Erik S. Lesser)
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London. British oil company BP says that Anadarko Petroleum Co. has agreed to pay $4 billion to settle all claims between them resulting from the Gulf of Mexico oil spill.

Anadarko held a 25 percent share in the Macondo well which blew out in April last year, causing the largest oil spill in US history.

BP said Monday that the cash will be applied to the British company’s $20 billion trust fund to settle claims from the incident. Texas-based Anadarko is also handing over its stake in the well to BP.

BP says the settlement was not an admission of liability by either party.

Associated Press