TABJ - May 20 - Shares in British Petroleum (BP), the U.K.-headquartered global oil major, jumped four per cent on news that a minority partner in the Macondo oil spill, with whom dispute over claims has been ongoing, will pay up for its part in the disaster.

Moex Offshore—a unit of Japanese trading conglomerate Mitsui and 10 per cent holder in Macondo—will pay $1.1 billion in order to settle the claims in question. The sum is half of the monthly invoice that BP has been sending to the company, which totals $2.144 billion.

These funds, according to BP, will be put immediately into the $20 billion trust it founded to tackle the claims that have arisen in the wake of the oil disaster.