Report: BP Nears $15B Settlement Over Gulf Oil Spill

Deepwater Horizon Gulf of Mexico Oil Spill

Oil giant BP PLC is near to a settlement with U.S. authorities over the Gulf of Mexico oil spill, said U.K. newspaper The Sunday Times, meaning the company could take a further $11 billion hit.

The deal would draw a line under all criminal and civil penalties for the company, said the newspaper.

The company was unavailable for immediate comment.

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Copyright (c) 2012 Dow Jones & Company, Inc.

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