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BP to pay $4.5bn penalty over Deepwater Horizon disaster

Guardian: BP met its day of reckoning in the Gulf of Mexico oil disaster on Thursday when the company admitted guilt on 14 criminal charges and agreed to pay an historic $4.5bn penalty in connection with the fatal explosion of its rig and the catastrophic oil spill. The payments include $4bn for criminal charges and $525m to security regulators. BP will plead guilty to 11 felony counts of misconduct or neglect in the deaths of 11 men aboard the Deepwater Horizon when the rig blew up and sank in April 2010,...

BP agrees to pay largest penalty in US history in $4.5bn Gulf oil spill deal

Guardian: BP has agreed to pay the largest criminal fine in US history – $4.5bn – to resolve all criminal charges arising from the fatal oil rig explosion and catastrophic oil spill in the Gulf of Mexico. The company said on Thursday that it had agreed to pay $4bn to the US government over five years, and $525m to the Securities and Exchange Commission. That money will be paid over three years. The criminal settlement does not settle all of the claims against BP for the April 2010 blowout of the Deepwater...