The Straits Times
Published on Nov 15, 2012

BP close to agreeing record oil spill fine: Sources


HOUSTON/WASHINGTON (REUTERS) - BP is expected to pay a record US criminal penalty and plead guilty to criminal misconduct in the Deepwater Horizon disaster which caused the worst offshore spill in the country's history, sources familiar with discussions said.

They told Reuters that a plea deal with the Justice Department over the 2010 disaster, in which 11 workers died, may be announced as soon as Thursday.

London-based BP confirmed on Thursday that it was in"advanced discussions" with the Justice Department and US Securities & Exchange Commission (SEC).

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