USA: FILE-BP OIL SPILL Oil spill ruling knocks BP shares to worst one-day loss since 2010

Record ID: 345052

  • Title: USA: FILE-BP OIL SPILL Oil spill ruling knocks BP shares to worst one-day loss since 2010
  • Date: 4th September 2014
  • Summary: NEAR VENICE AND QUEEN BESS ISLAND, LOUISIANA, UNITED STATES (JUNE 5, 2010) (REUTERS) AERIAL SHOWING BOOMS AND MARSHES COVERED IN OIL QUEEN BESS ISLAND, LOUISIANA, UNITED STATES (JUNE 5, 2010) (REUTERS) SIDE OF BOAT MOVING THROUGH OIL
  • Embargoed: 19th September 2014 13:00
  • Keywords:
  • Location: Usa
  • Country: USA
  • Topics: General
  • Reuters ID: LVAAQGGYOGF0TKT6H6HMKUUM1KWE
  • Story Text: A U.S. judge has decided that BP Plc was "grossly negligent" and "reckless" in the Gulf of Mexico oil spill four years ago, a ruling that could add nearly $18 billion in fines to more than $42 billion in charges the company took for the worst offshore environmental disaster in U.S. history.
    "The court's finding will ensure that the company is held fully accountable for it's recklessness. This case. which was vigorously pursued by United State's, I think stellar legal team, marks another significant step forward in the Justice Departments continuing efforts to seek justice on behalf of the American people for this disaster. And we are confident that this will work as a strong deterrent to anyone who is tempted top sacrifice safety and the environment in the pursuit of profit," said U.S. Attorney General Eric Holder.
    BP said it would appeal Thursday's ruling by U.S. District Judge Carl Barbier in New Orleans, Louisiana, who held a trial without a jury last year to determine who was responsible for the April 20, 2010 rig explosion and spill that killed 11 workers and spewed oil for nearly three months onto the shorelines of several states.
    Shares of BP in the United States fell 5 percent to $45.31, eroding about $8.8 billion of market value. BP shares in London closed down nearly 6 percent, the worst one day slide in more than four years.
  • Copyright Holder: FILE REUTERS (CAN SELL)
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