BP settles with maker of failed blowout preventer

In a Sept. 13, 2010 file photo, the bottom of the blowout preventer stack, from the Deepwater Horizon explosion and oil spill, which is being examined as evidence for federal investigations, is seen at the NASA Michaud Assembly facility in New Orleans. BP PLC said Friday, Dec. 16, 2011, it will be paid $250 million by the maker of the blowout preventer that failed to halt oil spewing from BP's busted well in the Gulf of Mexico. (AP Photo/Gerald Herbert, File)
December 16, 2011 5:34:06 AM PST
Cameron International, the maker of the Deepwater Horizon blowout preventer that failed to stop last year's massive oil spill in the Gulf of Mexico, has agreed to pay $250 million to BP under a legal settlement, BP said Friday.

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