The Deepwater Horizon explosion and sinking in 2010 led to the largest offshore oil spill in U.S. history. Getty Images Halliburton Co. will pay $1.1 billion to Gulf Coast residents, local governments and businesses affected by the 2010 Deepwater Horizon oil spill, moving to limit its liabilities ahead of a court ruling that could have increased its costs. The settlement announced Tuesday by the company and plaintiffs’ lawyers includes claims for punitive damages brought by the commercial fishing industry and others affected by the spilled crude. The amount is less than the $1.3 billion Halliburton has set aside for its costs stemming from the largest offshore oil spill in U.S. history. Some legal analysts say the settlement will eliminate most of the oil-field-services company’s liability from the incident. The deal comes as Halliburton, BP PLC and Transocean Ltd. await a ruling from U.S. District Judge Carl Barbier in New […]