A report at the BBC claims the fine against BP PLC (NYSE: BP) in the settlement of criminal charges related to the explosion of the Deepwater Horizon in 2010 will be in the range of $3 billion to $5 billion.
The BBC also reports that up to four BP staff members will be charged and arrested. And the Associated Press reports that two BP employees will face charges of manslaughter related to the explosion.
The AP also says that the company will plead guilty to obstruction charges for lying to Congress about the extent of the spill.
BP is expected to make a final payment of $860 million into its $20 billion Gulf of Mexico compensation fund by the end of this year.
BP has booked more than $38 billion to pay liability claims related to the disaster that killed 11 workers and spilled more than 5 million barrels of oil into the Gulf of Mexico.
Here’s our earlier report on this story.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
