Early in February, BP Oil seemed ready to start settling the many lawsuits filed against the second largest oil giant as a result of the 2010 Deepwater Rig explosion and the resulting oil spill in the Gulf. However, almost immediately after stating their readiness to settle, BP Oil announced that they were prepared to fight the civil lawsuits and the government litigation which were scheduled to begin February 27.

Confident BP Oil announced a rise in their fourth quarter earnings and increased its quarterly dividend from 7 cents to 8 cents a share.

BP Preparing ‘Vigorously’ As Start of Gulf Oil Spill Lawsuits Nears – http://www.insurancejournal.com/news/national/2012/02/07/234453.htm

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