BP fined $4.5 billion for Gulf of Mexico oil spill, but company may spend more buying its own stocks

Posted by Washington Post: Juliet Eilperin on November 19th, 2012
Mongabay: Last week the U.S. federal government fined BP $4.5 billion for the Deepwater Horizon disaster in 2010, which killed 11 workers and leaked nearly 5 million barrels of oil into the Gulf of Mexico. The oil giant also plead guilt to 12 felonies and two misdemeanors. However, even this fine-the largest in U.S. history-failed to dampen shareholder support of BP: stocks actually rose one percent following the announcement. Meanwhile, according to the Sunday Times, BP plans to spend $5.9 billion (over a......

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