BP reached a $20.8 billion civil settlement with the U.S. Department of Justice and five Gulf states on Monday to resolve civil claims tied to the April 2010 Deepwater Horizon accident.

A U.S. regulatory judge ruled BP PLC manipulated the Texas natural gas market in 2008 and said fines against the British energy company could increase because the scheme took place after earlier market manipulation.

BP’s second-quarter replacement cost (RC) loss was $6,266 million, compared with a profit of $3,182 million a year ago.

BP swung to a $6.3 billion second quarter loss on Tuesday after write downs tied to the ongoing conflict in Libya and the company’s recent Deepwater Horizon settlement.

Over the past decade, domestic refinery output of petroleum products has grown significantly while consumption has declined, resulting in a major increase in product exports. Petroleum product exports averaged 4.1 million barrels per day (b/d) in the first four months of the year, an increase of 0.5 million b/d over exports the same time last year. Product imports are also higher than last year, but to a lesser extent, leading to an increase in net petroleum product exports.

Petroleum product exports averaged 4.1 million barrels per day (b/d) in the first four months of the year, the latest monthly data available. This was an increase of 0.5 million b/d over the same time last year.

BP Plc reached a $18.7 billion settlement to end five years of litigation following the 2010 Gulf of Mexico oil spill. It is the largest settlement with a single entity in U.S. history, the U.S. Department of Justice said.

The U.S. Supreme Court refused to hear an appeal from oil majors BP and Anadarko Petroleum leaving intact a lower court ruling that makes the firms potentially liable for billions of dollars in fines for the disastrous oil spill in the Gulf of Mexico in 2010.

Rosneft and BP today signed several agreements strengthening the long term strategic relationship between the two companies, at the St. Petersburg International Economic Forum.

BP could be close to a $700 million deal with Russia’s Rosneft for a 20% stake in a Siberian oilfield, the company led by Igor Sechin further showed how national companies can cope with sanctions, maintaining ties with Western companies and progressively switching to Asian markets.