BP to pay U.S. govt. 4.5 bln USD to solve oil spill claims

HOUSTON, Nov. 15 (Xinhua) -- British oil giant BP said Thursday it has agreed to pay 4.5 billion U.S. dollars in fines and other payments to the United States government and plead guilty to misconduct and negligence charges in connection with the 2010 oil spill in the Gulf of Mexico.

London-based BP confirmed in a statement released Thursday that it has reached an agreement with the U.S. Justice Department to resolve all federal criminal charges and all claims by the Securities and Exchange Commission against the company stemming from the 2010 Deepwater Horizon rig explosion, the subsequent oil spill and the response.

The payments include a 4 billion fine to be paid over a period of five years, with much of it to go to government environmental agencies. Another 525 million dollars, to be paid over three years, will be used to settle securities claims with the U.S. Securities and Exchange Commission, according to the statement.

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