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

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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.

Click here to read the full story.

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

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