BP will pay a record fine of $4.5 billion to the U.S. government following the April 2010 explosion at the Deepwater Horizon drilling rig that killed 11 people and set off the biggest offshore oil spill in U.S. history.
In addition, a federal judge in New Orleans is deciding whether to approve an estimated $7.8 billion settlement between BP and more than 100,000 businesses and individuals who claim they were harmed by the spill. Another $20 billion went to a special fund dedicated to cleaning efforts.
Three BP employees were also charged, two of them with manslaughter, and the company is still being sued by the four Gulf states what were affected by the spill. Under the settlement with the U.S. government, BP will plead guilty to 11 felony counts of misconduct or neglect of a vessel's officers, one felony count of obstruction of Congress, and one misdemeanour count each under the Migratory Bird Treaty Act and the Clean Water Act.
The fine sounds heavy, but it's a mere drop in the ocean for an oil giant that made a profit of $5.5 billion in the third quarter of 2012 and has booked provisions of $38.1 billion to cover its liabilities from the incident.
Source: Radio-Canada.ca
In addition, a federal judge in New Orleans is deciding whether to approve an estimated $7.8 billion settlement between BP and more than 100,000 businesses and individuals who claim they were harmed by the spill. Another $20 billion went to a special fund dedicated to cleaning efforts.
Three BP employees were also charged, two of them with manslaughter, and the company is still being sued by the four Gulf states what were affected by the spill. Under the settlement with the U.S. government, BP will plead guilty to 11 felony counts of misconduct or neglect of a vessel's officers, one felony count of obstruction of Congress, and one misdemeanour count each under the Migratory Bird Treaty Act and the Clean Water Act.
The fine sounds heavy, but it's a mere drop in the ocean for an oil giant that made a profit of $5.5 billion in the third quarter of 2012 and has booked provisions of $38.1 billion to cover its liabilities from the incident.
Source: Radio-Canada.ca