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BP Expected to Plead Guilty

Will admit to criminal misconduct in Deepwater Horizon case

BP Plc, the fourth-largest company in the world (2011 revenue was in excess of $300 billion, according to CNN Money), has reportedly reached a plea agreement with the U.S. Department of Justice. In exchange for immunity from future prosecution in this case, the British multinational oil and gas company is expected to plead guilty to criminal misconduct in the Deepwater Horizon disaster of 2010. "BP has been locked in months-long negotiations with the U.S. government and Gulf Coast states to settle billions of dollars of civil and criminal liability claims resulting from the April 20, 2010, explosion aboard the Deepwater Horizon rig that killed 11 workers and fouled the shorelines of four Gulf Coast states in the worst offshore spill in U.S. history," according to Reuters, which first broke the news of the plea agreement after speaking to two anonymous sources "familiar with discussions." It's still unclear what form of misconduct the company will plead guilty to, but details are expected Thursday.

Via Reuters

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Filed To: News