Louisiana energy firm to pay millions following oil spill that began 17 years ago

Taylor Energy to pay more than $43m in clean-up costs, penalties and damage, and transfer $432m clean-up fund

America's longest running oil spill dispute is close to a resolution after a Louisiana-based energy firm has agreed to a proposed multi-million dollar settlement.

Taylor Energy agreed to pay more than $43m in clean-up costs, civil penalties and natural resource damage, and transfer a $432m clean-up trust fund to the Department of Interior, according to a proposed settlement announced by the Department of Justice.