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HindustanTimes Fri,22 Aug 2014

BP to pay record fine for 2010 spill: sources

letters@hindustantimes.com, Reuters   Houston/Washington, November 15, 2012
First Published: 23:27 IST(15/11/2012) | Last Updated: 23:28 IST(15/11/2012)

BP Plc is expected to pay a record US criminal penalty and plead guilty to criminal misconduct in the 2010 Deepwater Horizon disaster through a plea deal reached with the Department of Justice (DoJ) that may be announced as soon as Thursday, according to sources.

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The sources did not disclose the amount of BP's payment, but one said it would be the largest criminal penalty in US history - a record now held by Pfizer Inc, which paid a $1.3 billion fine in 2009 for marketing fraud related to Bextra pain medicine.

Three sources, who spoke to Reuters on condition of anonymity, said BP would plead guilty in exchange for a waiver of future prosecution on the charges.

BP said it was in 'advanced discussions' with the DoJ and the Securities & Exchange Commission but added no final agreement had been reached.


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