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BP, Anadarko Might Face Heavy Fines After Oil Spill Ruling

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June 5, 2014

BP Plc (NYSE: BP) and Anadarko Petroleum Corp. (NYSE: APA) could face billions of dollars in fines after an appeals court ruled they were automatically liable for pollution law violations as co-owners of the well that blew out and started the 2010 Gulf of Mexico oil spill, according to Bloomberg June 5.

The U.S. Court of Appeals in New Orleans June 4 upheld a lower court decision that allows the U.S. to seek a maximum fine of $18 billion from London-based BP if it is found grossly negligent for its ...

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