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BP settles with Weatherfield
BP is to be paid $75m (£46m) by oil products and services provider Weatherfield International to shield the company from private claims in relation to last year’s Deepwater Horizon disaster. The company provided BP with casing components for the deep-water well and wanted indemnity for the storm of litigation that has followed the explosion. Yesterday’s agreement is the second indemnity settlement BP has reached. Japan’s Mitsui, which held a 10 per cent stake in the lease where the Deepwater Horizon rig was drilling, last month agreed to pay BP nearly $1.1bn for clean up efforts.