BP reports settlement with Cameron International on the Gulf spill

BP, large oil producer, announced a settlement over the oil spill in Gulf of Mexico. The suit was carried between BP and Cameron International, designer of the system, failure of which led to spill. The agreement stipulates settlement of mutual claims and obliges Cameron to pay $250m to BP. The funds will be included into $20bn program of BP aimed at supporting victims of disaster where 11 people died.