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BP Expected To Plead Guilty, Pay Record Fine In Gulf Oil Spill Criminal Case


Oil giant BP is preparing to plead guilty to criminal misconduct related to the 2010 Gulf Oil spill later today, according to two sources familiar with the case. The sources said the settlement deal will also include the largest-ever penalty in a criminal case, topping the more than $1 billion payment by pharmaceutical maker Pfizer in a drug marketing prosecution (Pfizer also paid about $1 billion in civil penalties).

London-based BP confirmed it is in "advanced discussions" with the U.S. Justice Department and Securities and Exchange Commission to put an end to the long-running criminal investigation. The agreement will not cover civil environmental damages under the Clean Water Act, BP said.