BP to Pay $373 Million in Federal Probe | Thursday October 25, 1:02 PM EDT
WASHINGTON (AP) — Oil and gas giant BP PLC agreed Thursday to pay $373 million in fines and restitution to end investigations into whether it manipulated energy markets and violated environmental laws, the Justice Department said.
Additionally, four former BP employees were indicted by a federal grand jury in Chicago on 20 counts of mail and wire fraud charges connected to the price-fixing scheme.
BP, Europe's second-largest energy company, will pay an estimated $50 million as part of an agreement to plead guilty for violating the Clean Air Act as a result of a 2005 explosion at its Texas City refinery that killed 15 employees and injured more than 170 others.
Additionally, it will pay $20 million in criminal fines and restitution to the state of Alaska and the National Fish and Wildlife Foundation for pipeline leaks ofcrude oil that polluted tundra and a frozen lake in Alaska.
The rest of the fines aim to punish BP for conspiring to manipulate propane prices. ...
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