Reuters: Regulatory News: BP hoping for $15 bln spill settlement with DoJ-FT

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

BP hoping for $15 bln spill settlement with DoJ-FT Jun 9th 2012, 00:13 June 8 | Fri Jun 8, 2012 8:13pm EDT June 8 (Reuters) - BP Plc is hoping to reach an agreement with U.S. authorities which would require it to pay under $15 billion to settle all criminal and civil penalties arising from the 2010 Deepwater Horizon disaster, the Financial Times reported, citing a person familiar with the matter. The amount is less than the $20 to $25 billion the Department of Justice is seeking from the company. Negotiations between the DoJ and BP are accelerating and an agreement could be reached before the Democratic party's convention in September, the FT quoted the person as saying. Eleven people were killed in the explosion on April 20, 2010, and 4.9 million barrels of oil spewed from the mile-deep well in by far the worst offshore U.S. oil spill. The oil giant still faces claims by the U.S. government, which is pursuing violations of the Clean Water Act and other laws, which could result in fines totaling billions of dollars. BP also faces claims from Gulf states as well as its drilling partners. The company and the DoJ were not immediately available for comment outside normal business hours.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions