In what will be the “biggest criminal penalty in US history”, oil giant BP will be whacked with a record fine of between $3 billion (£1.9 billion) and $5 billion (£3.2 billion).
The BBC has reported that the fine would be levied to settle criminal charges related to the 2010 Deepwater Horizon disaster which killed 11 workers and released millions of barrels of crude into the Gulf of Mexico.
The BBC’s business editor says that “up to four BP staff will be arrested”.
“BP is thought to be relieved that it has reached a settlement, because the potential liability was unlimited,” he added.
BP’s fine would top the $1.3 billion paid by Pfizer in 2009
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