U.S. agrees to cut amount of BP fine

2/19/2013

U.S. agrees to cut amount of BP fine

LONDON -- The United States government has agreed not to count 810,000 bbl of oil captured before they became part of the Gulf of Mexico oil spill in 2010, cutting the amount of Clean Water Act (CWA) fine on BP by $3.4 bn, Bloomberg News reported, citing an order by United States District Judge Carl Barbier in New Orleans.

The collected oil "never came into contact with any ambient seawater and was not released into the environment" the report quoted the judge as saying in the order.

Following the agreement, BP's potential maximum civil pollution fine would be reduced to about $17.6 bn from about $21 bn, depending on whether the company is found to have been grossly negligent at a trial beginning February 25, the report said.

Dow Jones Newswires

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