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BP In Talks with DoJ, SEC to Settle Criminal Claims Related to Gulf Oil Spill; Agrees to Pay Extra $4.5 Bln; Shares Up Slightly

Bp ( BP ) is up 0.27% to $40.27 in midday trading after it revealed that it is talks with the Department of Justice and Securities and Exchange Commission related to proposed resolutions of all US federal government criminal and SEC claims against BP in connection with the Deepwater Horizon oil spill in the Gulf of Mexico in 2010.

The proposed resolutions, however, are not expected to cover federal civil claims, including Clean Water Act claims, federal and state Natural Resource Damages claims; private civil claims in MDL 2179 that were not covered by the PSC settlement, private securities claims pending in MDL 2185 or state economic loss claims.

BP will plead guilty to the criminal charges and has agreed to pay $4.5 billion, in addition to billions it has already paid in fines and claims, according to a Reuters report.

BP trades in a 52-week range of $36.25 - $48.34.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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