BP to pay record $50 million criminal fine: sources
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The U.S. government on Thursday will announce a record $50 million criminal penalty against London-based BP Plc for a massive explosion at its Texas City refinery that killed 15 people in 2005, sources familiar with the deal said.
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Oil major BP on Thursday agreed to pay $373 million to settle U.S. charges stemming from a deadly Texas refinery explosion, an Alaska oil spill and allegations it manipulated the propane market.
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The U.S. Justice Department is  expected to seek indictments of up to four former BP Plc   traders as early as Thursday, the Wall Street Journal reported  in its online edition on Wednesday.
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Exxon argued that given the $3.5 billion it has paid in cleanup costs, fines and settlements after the Valdez spill, the $2.5 billion in punitive damages is beyond normal due process.
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WASHINGTON - By agreeing to pay $30 million, Chevron Corp. has reached the largest of five settlements in the government's ongoing investigation of illegal kickbacks made to Iraq in connection with the United Nation's oil-for-food program.
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US energy group El Paso Corp. has agreed to pay 7.7 million dollars in penalties amid an ongoing US probe into alleged kickbacks tied to the now defunct UN oil-for-food program with Iraq, officials said.
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Oil giant BP Plc  expects the  replacement of corroded pipelines at the Prudhoe Bay oil field  in Alaska to cost around $100 million, a company source said on  Thursday, but the total cost to BP will likely be several times  this figure.
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The oil company agreed to pay $373 million in fines and restitution to end investigations into whether it manipulated energy markets and violated environmental laws, the Justice Department said.
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U.S. crude oil futures hit a new  record on Tuesday at $50.01 a barrel as worries about the  stability of supplies from Iraq, Nigeria and Russia compounded  concerns over low fuel stocks ahead of peak winter demand.
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Energy giant BP has agreed to pay 303 million dollars to settle civil charges that it manipulated prices in the US propane market during 2004, the Wall Street Journal online reported Tuesday.
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The PIMCO mutual fund group has agreed to pay $50 million to settle fraud charges involving improper rapid dealing in mutual fund shares, the US Securities and Exchange Commission said Monday.
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LONDON - Crude oil futures contracts topped the psychological milestone of $50 per barrel for the first time Tuesday, surging to new record levels that could unsettle oil importing nations.    Analysts said instability in the Middle East; political unrest in Nigeria, Africa's top oil exporter; and the Caribbean's hurricanes were keeping traders on edge about world supplies...
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The PIMCO mutual fund group has  agreed to pay $50 million to settle fraud charges involving  improper rapid dealing in mutual fund shares, the U.S.  Securities and Exchange Commission said on Monday.
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HOUSTON - BP PLC has agreed to settle claims by four victims of an explosion in 2005 at its Texas refinery, ending the first trial over the disaster. The terms weren't disclosed.
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A proposed $50m fine for an explosion at a BP plant in Texas is too low, lawyers for the victims' families say.
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Energy giant BP, the world's third-biggest oil major, reported on Tuesday that its fourth-quarter net profit jumped sharply due to higher prices and volumes.
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A proposed $50m fine for an explosion at a BP plant in Texas is too low, lawyers for the victim's families say.