• Home
  • News
  • BP Expected to Settle Refinery, Market Manipulation Charges

Verdicts & Settlements

BP Expected to Settle Refinery, Market Manipulation Charges

Posted Oct 24, 2007 8:47 AM CDT
By Debra Cassens Weiss

  • Print
  • Reprints
  • Share

The British energy company BP is expected to plead guilty to environmental charges to settle a criminal investigation into an explosion at a Texas oil refinery two years ago that killed 15 people.

The Wall Street Journal (sub. req.) reports the oil giant is expected to pay a $50 million fine in connection with the explosion. In a separate case, the company is expected to pay $303 million to resolve civil allegations that it manipulated the propane market.

The refinery settlement shows the Justice Department is willing to take a tough stance in environmental and worker safety prosecutions, the New York Times reports.

The company’s legal woes are not yet over. It has set aside $1.6 billion to pay claims in 1,000 pending civil suits filed in connection with the refinery accident, the Times says.


Add a Comment

We welcome your comments, but please adhere to our comment policy. Flag comment for moderator.