LONDON (Alliance News) - BP PLC has lost its bid to reduce the maximum civil fine of GBP8.9 billion that the company could face for its role in the 2010 Gulf of Mexico oil spill, the BBC reported Friday.
A US judge rejected BP's appeal to pay a cap of USD3,000 per barrel spilt in the Gulf of Mexico, with government prosecutors claiming BP should pay up to USD4,300 per barrel to account for inflation.
The court has yet to decide the amount of responsibility and final penalty the firm will pay for the disaster.
The 2010 explosion on the Deepwater Horizon drilling rig in the Gulf of Mexico killed 11 workers and caused the largest oil spill in US history.
http://www.bbc.co.uk/news/business-31545697
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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