BP (LON:BP.) has taken another step in clearing the legal aftermath of the 2010 Gulf of Mexico oil spill disaster.
The London listed oil major has now agreed out of court settlements with US contractors Transocean and Halliburton, which were also involved in the Macondo spill.
BP was for a number of years locked in dispute with Transocean, owner of Deepwater Horizon rig, and Halliburton, which was also a contractor on the project.
Settlement of various claims and counter-claims between the parties mean all three will reduce legal bills and, according to comments by Halliburton chief executive Dave Lesar, allows more business to be done with BP.
BP, meanwhile, still faces uncertainty over the total cost the oil spill with potential fines of up to US$13.7bn still to come under the US Clean Water act.
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