BP met its day of reckoning in the Gulf of Mexico oil disaster when the company admitted guilt on 14 criminal charges and agreed to pay an historic $4.5bn (£2.8bn) 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 relation to the deaths of 11 men aboard the Deepwater Horizon when the rig blew up and sank in April 2010, as well as misdemeanour counts under the clean water and migratory bird acts. The company will plead guilty to lying to Congress.
For more on this story, visit: BP to pay $4.5bn penalty over Deepwater Horizon disaster | Environment | The Guardian.