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BP p.l.c. Message Board

  • retiredbill retiredbill Jan 29, 2013 1:26 PM Flag

    Judge OKs $4B BP oil spill criminal settlement

    Hey Rcccrossie, Woot The Toot and A_Pane_in_the_Glarse, now tell us how you really feel?
    What a Bunch of Fools! lol

    Jan. 29, 2013
    Judge OKs $4B BP oil spill criminal settlement
    Judge approves BP's guilty plea to criminal charges, $4 billion in oil spill penalties

    NEW ORLEANS (AP) -- A federal judge has approved an agreement for BP PLC to plead guilty to manslaughter and other charges and pay a record $4 billion in criminal penalties for the company's role in the massive 2010 oil spill in the Gulf of Mexico.

    BP agreed in November to plead guilty to charges involving the deaths of 11 workers aboard the drilling rig that exploded and for lying to Congress.

    Before ruling on Tuesday, U.S. District Judge Sarah Vance heard testimony from relatives of workers who died when BP's blown-out Macondo well triggered an explosion on the Deepwater Horizon rig in April 2010.

    More than 200 million gallons of oil spewed from the well about 50 miles southeast of the Louisiana coast before it was capped three months later.

    Cheers to those that had Faith in Bob Dudley!
    Thanks Bob for Righting the BP Ship!!!

    Bill

    Sentiment: Strong Buy

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    • Well, that settles the criminal charges. Let's hope the EPA fine will be quickly finalized as well. Even though the amount could be greater than the criminal fine, just having it quantified will signal a restoration of stability in some sense. BP needs to tread lightly for a good long time to bring back investor confidence. Meanwhile, consistent financial performance will bolster PPS and a lead to a likely increase in the dividend. Best of luck.

    • "Hey Rcccrossie, Woot The Toot and A_Pane_in_the_Glarse, now tell us how you really feel?
      What a Bunch of Fools! lol"

      Don't worry, they will have new useless #$%$ to bash with before you can say uncertainty removed.

      Sentiment: Buy

 
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