BP is placing a full-page advertisement in three of the nation's largest newspapers as the company mounts an aggressive campaign to challenge what could be billions of dollars in settlement payouts to businesses following its 2010 oil spill in the Gulf of Mexico.

The ad scheduled to run in Wednesday's editions of The New York Times, Wall Street Journal and Washington Post accuses "trial lawyers and some politicians" of encouraging Gulf Coast businesses to submit thousands of claims for inflated or non-existent losses.

In April, U.S. District Judge Carl Barbier rejected BP PLC's request to block all settlement payouts to businesses. A federal appeals court is scheduled to review the ruling next month.

The London-based oil giant's ad claims Barbier's ruling "interprets the settlement in a way no one intended."