BP fined £2.8Billion
BP, who have admitted 11 charges relating to the Gulf of Mexico Oil spill was fined £2.8bliion yesterday. The settlement with the US justice department will see payments spread over five years. The total includes a £790 million criminal fine and £1.5billion for the National Fish and Wildlife Foundation.
BP has reportedly already spent £9billion on clean up operations and a further £10billion on compensation.
City analysts are not really bothered as BP recently reported profits of £3billion for one quarter of the financial year.