BP is to receive $4bn (£2.5bn) cash as part of a settlement with Anadarko Petroleum over last year's Deepwater Horizon oil platform disaster. The money will go into a $20bn trust that BP set up to meet claims against it following the Gulf of Mexico oil spillage and deaths of rig workers, BBC News informs.

Anadarko owned 25% of the oil well. Both companies have agreed to drop all other claims against each other.

BP boss Bob Dudley said the settlement was "clear progress".

He called on other contractors to seek a resolution.

BP is still in dispute with other contractors, including Transocean and Halliburton, involved in drilling the Macondo oil well.

An official report has blamed safety and operational lapses for the worst oil spill in US history and oil rig explosion which killed 11 workers.

Mr Dudley, BP's chief executive, said in a statement: "This settlement [with Anadarko] represents a positive resolution of a significant uncertainty and it resolves the issues among all the leaseholders of the Macondo well.

"There is clear progress with parties stepping forward to meet their obligations and help fund the economic and environmental restoration of the Gulf. It's time for the contractors, including Transocean and Halliburton, to do the same."

BP has recently struck settlements with MOEX, which owned 10% of the Macondo well, and Weatherford, which provided drilling equipment.

One year on, the human and environmental cost of the Deepwater Horizon explosion is still being counted - but what of the cost to BP itself?