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Article

25 Oct 2007

Author:
AFP

BP 'abuses' end in US fines of 373 mln dlrs

BP agreed to pay 373 million dollars in fines and restitution to settle several US government probes, including allegations of trading abuses, officials said Thursday…The global energy giant agreed to pay the fines, some of which were criminal penalties, for environmental violations relating to a Texas refinery blast in 2005, crude oil pipeline leaks in Alaska, and to defer a prosecution for fixing prices in the propane gas market…BP America chairman and president Bob Malone said…"These agreements are an admission that, in these instances, our operations failed to meet our own standards and the requirements of the law. For that, we apologize."