Update: BP is set to pay a record fine of $3 billion-$5 billion to settle criminal charges related to the 2010 Deepwater Horizon oil spill, BBC Business Editor Robert Peston reports Thursday.
(Bloomberg) ? BP Plc, the owner of the Macondo well that in 2010 caused the worst U.S.?oil?spill, has agreed to the largest U.S. criminal settlement in history, according to a person familiar with the deal.
The company will plead guilty to obstruction of justice for lying to Congress. Two of the company?s employees face manslaughter charges over deaths in the explosion of the oil well, said the person, who requested anonymity to discuss the deal which has not been made public. The amount wasn?t disclosed.
The settlement will be announced later today, the person said.
BP is in ?advanced discussions? with the Justice Department and the Securities and Exchange Commission, the U.K. oil producer said today in a statement. The proposed resolutions won?t cover civil claims under the Clean Water Act, natural resource damages, or private claims not included in a previous settlement with victims, it said.
-By Phil Mattingly.?Copyright 2012 Bloomberg.
Related Articles:
- Isaac ?Tar Balls? Could Complicate BP?s Oil Spill Settlement [UPDATE]
- BP to Pay $7.8 Billion in Gulf Oil Spill Settlement
- $14 Billion Settlement Deal in the Works in Deepwater Horizon Civil Trial ? BLOOMBERG
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