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BP To Be Fined Record Amount For Deepwater

Energy firm BP is close to settling claims arising from the Deepwater disaster, with the corporate fine expected to be somewhere between $3 and $5 billion, says the BBC. Up to four staff may be arrested, and the firm is expected to plead guilty to criminal charges in exchange for a waiver on all future criminal prosecutions.

The explosion, in April 2010, took 11 lives and caused millions of barrels of crude oil to escape into the Gulf of Mexico, decimating the environment and many people's livelihoods, and eventually forced the resignation of the firm's CEO, Tony Hayward. Nevertheless, the firm managed to turn a profit in Q4 of the same year.