That firm suffered a loss after a 2008 spill caused by Sinopec, one of the three large state oil companies.

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That incident led to the largest-ever oil spill in U.S. waters and the loss of 11 lives.

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The Deepwater Horizon rig - operated by Transocean on behalf of BP and its partners - exploded on 20 April and later sank with the loss of 11 lives, leading to the worst oil spill in US history.

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In its filing, the U.S. Government made clear that it does not oppose the settlement reached by BP and the PSC resolving economic loss and property damage claims stemming from the Deepwater Horizon oil spill.

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That includes disastrous mine accidents that could result in devastating loss to families and communities, and environmental nightmares like the Gulf oil spill.

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As the biggest fishing town on Prince William Sound, Cordova may have suffered the greatest economic loss of any community in the aftermath of the 1989 Exxon Valdez oil spill.

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CORDOVA, Alaska (CNN) -- As the biggest fishing town on Prince William Sound, Cordova may have suffered the greatest economic loss of any community in the aftermath of the 1989 Exxon Valdez oil spill.

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"All of us at BP deeply regret the tragic loss of life caused by the Deepwater Horizon accident as well as the impact of the spill on the Gulf coast region, " said Bob Dudley, BP's chief executive.

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