BP reached $7.8 billion deal with plaintiffsMarch 3, 2012 - 10:50 AMT PanARMENIAN.Net - British Petroleum has reached an estimated $7.8 billion deal with plaintiffs suing over the massive 2010 Gulf of Mexico oil spill, the company said on Friday, March 2, but the oil giant still faces claims by the U.S. government, Gulf states and drilling partners, Reuters reported. U.S. District Judge Carl Barbier, who is overseeing the litigation, said in a court order that the proposed terms of the class settlement would be submitted to court for approval. He also adjourned the first phase of the trial over the spill, which had been scheduled to begin on March 5. He had previously delayed the start of the trial to allow a group called the Plaintiffs' Steering Committee (PSC) to negotiate a settlement with BP. The committee represents fisherman and businesses who say their livelihoods were damaged by the April 20, 2010, explosion of the Deepwater Horizon drilling rig and subsequent spill from the Macondo well. Lawyers for the committee, Stephen Herman and James Roy, said the settlement would compensate hundreds of thousands of victims. "It does the greatest amount of good for the greatest number of people," they said. BP said the cost of the proposed settlement would be around $7.8 billion, including a commitment of $2.3 billion to help resolve loss claims related to the Gulf seafood industry. It said the proposed settlement was not an admission of liability and that BP would assign to the PSC some of its claims against Transocean and Halliburton. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Aliyev: No peace treaty unless Armenia changes constitution Azerbaijan will not sign a peace treaty with Armenia unless the latter changes its constitution, Azerbaijani President Ilham Aliyev said. Seven injured in massive gas station explosion in Armenia The Investigative Committee of Armenia has unveiled details about a massive explosion at a gas station on the Yerevan-Sevan highway. Pashinyan’s spokesperson denies intention to visit Baku for COP29 Pashinyan’s agenda doesn’t include a trip to Baku for the COP29 conference, his press secretary Nazeli Baghdasaryan has said. Lithuania sending €100,000 to help Armenia fight floods consequences Armenian Prime Minister Nikol Pashinyan took to social media to thank his Lithuanian counterpart for the contribution. |