FX.co ★ BP to pay $10 bln in fines for disastrous oil spill

A U.S. federal judge ruled that British giant BP bears the majority of responsibility among the companies involved in the Deepwater Horizon oil spill in the Gulf of Mexico in 2010, which has been the worst ever environmental disaster in the U.S. A ruling exposes BP plc to $18 billion in penalties. The energy giant already has agreed to pay $42 billion in criminal fines and compensation to people and businesses affected by the disaster. U.S. District Judge Carl Barbier stated that BP exhibited "gross negligence" and "willful misconduct" in the lead-up to explosion and spill. Under the Clean Water Act, a polluter can be forced to pay a maximum of either $1,100 or $4,300 per barrel of spilled oil. The higher limit applies if the company is found grossly negligent as BP was in Barbier's ruling.
The British oil major urged Barbier to use an estimate of 2.45 million barrels, or nearly 103 million gallons, in calculating any Clean Water Act penalties. However, the government experts believe that the oil company underestimated the damage considerably. The U.S. authorities reckon that 4.2 million barrels, or 176 million gallons, gushed into the Gulf.
BP said in a news release that it would appeal the ruling, saying the company "believes that an impartial view of the record does not support the erroneous conclusion reached by the District Court."
Besides, BP filed a motion with the court to have Mr Patrick Juneau, who was appointed as claims administrator in 2012, dismissed from his post after he allegedly misled a court about a potential conflict of interest.