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BP pleads guilty to criminal charges over Gulf oil spill

Thursday, November 15, 2012 - 11:56am

BP reached a settlement today with the federal government to pay $4.5 billion for the 2010 oil spill disaster in the Gulf of Mexico.

This settlement is considered a record for a criminal penalty in the U.S. The largest previous corporate criminal penalty was imposed on Prizer in 2009 by the Department of Justice. That settlement was reached at $1.2 billion.

The explosion on the Deepwater Horizon rig killed 11 workers and set off a spill which continued for 87 days.

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