BP Offers To Plead Guilty For Alaska Spills

Law360, New York (November 28, 2007, 12:00 AM EST) -- Oil giant BP PLC is expected to plead guilty to a misdemeanor environmental crime on Thursday and pay a total of $20 million in federal and state penalties over oil spills in America's largest national oil field – Prudhoe Bay, Alaska.

If U.S. District Judge Ralph Beistline accepts the plea agreement, it will put a final stamp on the government's criminal case against BP.

Prosecutors accused BP of cutting costs β€œfor many years without regard for the ever-increasing costs of running an aging oil field.” They...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.