BP and DOJ Reportedly Reach Settlement on Deepwater Horizon Disaster

<a href="http://www.flickr.com/photos/skytruth/4543311558/sizes/m/in/photostream/">Skytruth</a>/Flickr

Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.


The Department of Justice, the Securities & Exchange Commission, and BP have reportedly reached a settlement agreement over the criminal charges related to the 2010 Deepwater Horizon spill, with the oil giant agreeing to pay $4.5 billion in fines.

The Washington Post reports that the BP will pay $4 billion over five years to settle with the DOJ, and another $525 million to settle SEC complaints:

“We believe this resolution is in the best interest of BP and its shareholders,” said Carl-Henric Svanberg, BP’s Chairman. “It removes two significant legal risks and allows us to vigorously defend the company against the remaining civil claims.”

To reach the settlement, the company pleaded guilty to a handful of criminal complaints:

BP agreed to plead guilty to 11 felony counts of misconduct or neglect of ships’ officers relating to the loss of 11 lives on the drilling rig that caught fire and sank; one misdemeanor count under the Clean Water Act; one misdemeanor count under the Migratory Bird Treaty Act; and one felony count of obstruction of Congress.

BP could still face enormous civil penalties for Clean Water Act violations based on the number of gallons of oil released, and for damage to natural resources. The settlement with the DOJ and SEC does not include a deal with cleanup workers and local residents impacted by the spill and does nothing to end private lawsuits filed by investors.

WE'RE TAKING A SHORT BREAK…

from the big banner at the top of our pages asking for the donations that make Mother Jones' nonprofit journalism possible. But we still have upwards of $300,000 to raise by June 30, whether we get there is going to come down to the wire, and we can't afford to come up short.

If you value the reporting you get from Mother Jones and you can right now, please join your fellow readers who pitch in from time to time to keep our democracy-advancing, justice-seeking journalism charging hard (and to help us avoid a real budget crunch as June 30 approaches and our fiscal year ends).

payment methods

WE'RE TAKING A SHORT BREAK…

from the big banner at the top of our pages asking for the donations that make Mother Jones' nonprofit journalism possible. But we still have upwards of $300,000 to raise by June 30, whether we get there is going to come down to the wire, and we can't afford to come up short.

If you value the reporting you get from Mother Jones and you can right now, please join your fellow readers who pitch in from time to time to keep our democracy-advancing, justice-seeking journalism charging hard (and to help us avoid a real budget crunch as June 30 approaches and our fiscal year ends).

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate