BP settles with US for $4.5 billion in Gulf spill

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NEW ORLEANS (AP) - Oil giant BP says it has agreed to pay $4.5 billion in a wide-ranging settlement with the U.S. government over the 2010 oil spill in the Gulf of Mexico.

The London based multinational also said in a statement Thursday it agreed to plead guilty to charges including 11 felony counts of misconduct related to the deaths of 11 men in the rig explosion that triggered the oil spill. It also pleaded guilty to a felony count of obstruction of Congress.

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