BP to pay biggest fine in U.S. history for role in Deepwater Horizon spill
04 Oct, 2013
BP has accepted the obligation to pay the biggest fine in U.S. history after pleading guilty to 14 charges relating to the Deepwater Horizon disaster in April 2010.
The oil giant has reached an agreement with the United States Department of Justice and the Securities Commission to pay a massive $4.5billion (£2.8billion) over a six year period.
The Deepwater Horizon explosion claimed the lives of 11 workers, caused tens of billions of dollars in damage to the economy and environment, as well as triggering a multi-million barrel oil spill which killed thousands of animals and birds.
BP’s guilty plea relates to 11 criminal charges of misconduct or neglect and three misdemeanor counts, one of which being under the Clean Water Act, and one of which being for obstructing Congress.
The chief Executive of BP, Bob Dudley, said: “We apologise for our role in the accident and as today’s resolution with the US government further reflects, we have accepted responsibility for our actions.”