'BP to pay record fine for 2010 spill'

BP Plc is expected to pay a record US criminal penalty and plead guilty to criminal misconduct in the 2010 Deepwater Horizon disaster through a plea deal reached with the Department of Justice (DoJ) sources said.

Three sources said BP would plead guilty in exchange for a waiver of future prosecution on the charges. BP confirmed it was in “advanced discussions” with DoJ and Securities & Exchange Commission (SEC). Sources did not disclose the amount of BP’s payment, but one said it would be the largest criminal penalty in US history. That record is now held by Pfizer Inc, which paid $1.3 billion fine in 2009 for marketing fraud related to its Bextra pain medicine.

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