NEW ORLEANS — BP and attorneys for businesses and people who lost money in the Gulf oil spill urged a federal judge Thursday to give his final approval to a class-action settlement.

US District Judge Carl Barbier heard arguments from lawyers who negotiated the deal as well as other attorneys who have objected to parts of it. BP PLC estimates it will pay $7.8 billion to resolve the claims, but the settlement is not capped and BP could pay out more or less.