"BP said Thursday it was close to striking a deal with the U.S. government that would resolve criminal claims resulting from the 2010 Deepwater Horizon disaster in the Gulf of Mexico.
The London-based oil company said no agreement has been finalized, but that negotiations with the Department of Justice and the Securities and Exchange Commission were "advanced."
Any settlement would be subject to federal judicial review, and would not absolve the company of any civil claims. In addition, BP still faces a potential fine from the U.S. federal government tied to environmental damages in the Gulf.
While BP (BP) denies an agreement is already in place, several media have reported the oil company has agreed to admit guilt and pay a fine that would be the largest criminal penalty in U.S. history.
If true, that pushes the potential settlement's price tag well past $1 billion.
http://money.cnn.com/2012/11/15/news/bp-oil-spill-settlement/index.html?hpt=hp_t1
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