US court approves BP’s record $4bn criminal penalty

Last Updated: Wednesday, January 30, 2013 - 14:23

London: A US court has approved the biggest criminal penalties given to British oil giant BP as part of a settlement related to the company’s role in the 2010 oil disaster in the Gulf of Mexico.

In November, BP said it would pay 4 billion dollars to the US Department of Justice and agreed to plead guilty to 14 criminal charges.

The Deepwater Horizon incident was one of the worst environmental disasters in US history, that killed 11 workers and released millions of barrels of crude into the Gulf of Mexico over 87 days.

According to the BBC, during the latest hearing Luke Keller, a Vice President of BP America, told the court, the families of the dead, and other victims of the tragedy of the company`s regret and apologised for its role in the Deepwater Horizon accident.
Two BP workers have been indicted on manslaughter charges and an ex-manager charged with misleading Congress.

The oil giant has been selling assets worth billions of pounds to raise money to settle all claims, the report said.

The company is expected to make a final payment of 860 million dollars into the 20 billion dollars Gulf of Mexico compensation fund by the end of the year, it added.

(ANI)



First Published: Wednesday, January 30, 2013 - 14:23

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