US AG sets news conference on BP spill settlement

Attorney General Holder sets New Orleans news conference on $4.5 billion BP oil spill deal

Associated Press
BP agrees to pay $4.5B; 3 employees charged
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FILE - In this April 21, 2010 file image provided by the U.S. Coast Guard, fire boat response crews battle the blazing remnants of the off shore oil rig Deepwater Horizon. British oil company BP said Thursday Nov. 15, 2012 it is in advanced talks with U.S. agencies about settling criminal and other claims from the Gulf of Mexico well blowout two years ago. In a statement, BP said "no final agreement has yet been reached" and that any such deal would still be subject to court approvals. (AP Photo/US Coast Guard, File)

NEW ORLEANS (AP) -- U.S. Attorney General Eric Holder will speak in New Orleans about the government's $4.5 billion settlement with BP over the massive 2010 oil spill in the Gulf of Mexico.

The Department of Justice said Holder and top U.S. officials will hold a news conference at 1:00 p.m. CST about the wide-ranging settlement.

London-based BP PLC said in a statement it agreed to the penalty and to plead guilty to criminal charges including 11 felony counts of misconduct related to the deaths of 11 men in the rig explosion that triggered the oil spill.

The settlement total of $4.5 billion over five years includes nearly $1.3 billion in criminal fines — the largest such penalty ever — along with payments to several government agencies.

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