May 2, 2102 (By Associated Press) – NEW ORLEANS—A federal judge on Wednesday preliminarily approved a proposed class-action settlement that would resolve billions of dollars in claims against BPBP.LN +0.70% PLC over the 2010 oil spill in the Gulf of Mexico. U.S. District Judge Carl Barbier’s ruling allows the settlement process to proceed, but he will hold a “fairness hearing” on Nov. 8 before deciding whether to give his final approval to the deal between London-based BP and a team of plaintiffs’ attorneys.