B.P. To Pay More Than $4 Billion In Penalties To U.S. Government
By: Big 2 News Staff
Updated: November 15, 2012
WASHINGTON, D.C. -- B.P. will plead guilty to 12 felony charges stemming from the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.
The energy giant has agreed to pay $4.525 billion in penalties to the U.S. Government.
A total of $4 billion of the penalties will resolve criminal charges and an additional $525 million will resolve claims brought by the Securities and Exchange Commission (S.E.C.).
The fine comes on top of $20 billion that the company has agreed to pay into a trust fund to meet damage claims from the spill.
The spill came after an explosion on B.P.'s Deepwater Horizon rig in April 2010.
A total of 11 workers died in the explosion, and the ensuing spill is considered one of the worst in history.
B.P.'s settlement is subject to federal judicial review.
The energy giant has agreed to pay $4.525 billion in penalties to the U.S. Government.
A total of $4 billion of the penalties will resolve criminal charges and an additional $525 million will resolve claims brought by the Securities and Exchange Commission (S.E.C.).
The fine comes on top of $20 billion that the company has agreed to pay into a trust fund to meet damage claims from the spill.
The spill came after an explosion on B.P.'s Deepwater Horizon rig in April 2010.
A total of 11 workers died in the explosion, and the ensuing spill is considered one of the worst in history.
B.P.'s settlement is subject to federal judicial review.
