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Maker of blowout preventer that failed in Gulf of Mexico will pay BP $250 million.

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Cameron International, the maker of the blowout preventer that failed to stop the massive oil spill in the Gulf of Mexico last year, has agreed to pay $250 million to BP, which says it will put the money into the $20 billion escrow fund to settle claims. Cameron said its insurers would pay $170 million of the $250 million sum.

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