- 17 updates
Oil giant BP has agreed a $4.5bn (£2.8 billion) settlement with authorities for claims relating to the Deepwater Horizon disaster.
Bob Dudley, chief executive of BP, said:
BP agreed to plead guilty to 11 felony counts of misconduct or neglect of ships officers relating to loss of the lives of 11 workers, Reuters reports.
BP has agreed to pay 4.5 billion US dollars (£2.8 billion) to US authorities over six years to settle criminal and securities claims relating to the 2010 Deepwater Horizon disaster, the oil giant confirmed today.
Earlier, in a statement posted on its website, BP confirmed it is in advanced talks with the US Department of Justice and the Securities & Exchange Commission over the Deepwater disaster.
It said that "proposed resolutions" were "not expected to cover federal civil claims" and others including those under the Clean Water Act and state claims for economic losses
It added: "Until final agreements are reached, there can be no certainty any such resolutions will be entered into".
The US Department of Justice has reached a settlement with BP over criminal charges relating to the Deepwater Horizon oil spill in 2010, officials familiar with the case have told NBC News.
The settlement is said to include a massive monetary fine and criminal charges.
The announcement will be made by US Attorney General Eric Holder later today in New Orleans.
Two BP Plc employees face criminal charges for their role in the 2010 Deepwater Horizon disaster, a source has told Reuters.
BP is set to plead guilty to criminal charges related to the Deepwater Horizon disaster in 2010 today, sources have told Reuters.
Details of what could be the largest criminal fine in US history is expected to be confirmed by the US Department of Justice later.
The disaster killed eleven workers and led to the release of millions of barrels of crude oil into the Gulf of Mexico.
BP has confirmed that it is in "advanced discussions" with the Justice Department and US. Securities & Exchange Commission.
Latest ITV News reports
BP has agreed to pay a record $4.5bn fine to the US over the 2010 Deepwater Horizon oil spill disaster in the Gulf of Mexico.