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BP to Pay $370 Million to Settle Safety and Price-Fixing Probes

7:56 AM MDT | November 1, 2007 | Chemical Week Editorial Staff

Penalty phase: Firm fined $50 million for Texas City accident. BP has agreed to pay an estimated $370 million to settle three major U.S. investigations into company wrongdoing: safety violations at its Texas City, TX site; propane price-fixing charges; and environmental fines related to leaks at its Prudhoe Bay, Alaska pipeline, officials say. The agreement includes a $50-million penalty for criminal violation of EPA’s Risk Management Plan (RMP) requirements in connection with the March 2005 explosion at its Texas City refinery that killed 15 workers and...

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