BP to pay $4.5B; 3 supervisors charged with manslaughter
The oil giant will absorb huge penalties for the Gulf of Mexico oil spill. How will the verdict and payments affect its tainted reputation?
According to The Washington Post, BP on Thursday agreed to a deal that included guilty pleas to criminal charges of misconduct, neglect, a Clean Water Act violation, obstruction of Congress, and more. The final bill for the company is $4 billion to the U.S. Justice Department, plus $525 million to go the Securities and Exchange Commission. In addition, three individual supervisors from the rig are facing criminal charges including manslaughter.
Company executives characterized Thursday’s news as the company’s taking responsibility and putting the spill behind it. Bob Dudley, BP’s chief executive officer, issued this statement in response to the deal:
Become a Ragan Insider member to read this article and all other archived content.
Sign up today
Already a member? Log in here.
Learn more about Ragan Insider.
