Advertisement
Singapore markets close in 7 hours 22 minutes
  • Straits Times Index

    3,258.70
    -34.43 (-1.05%)
     
  • Nikkei

    37,893.30
    -566.78 (-1.47%)
     
  • Hang Seng

    17,144.12
    -57.15 (-0.33%)
     
  • FTSE 100

    8,040.38
    -4.43 (-0.06%)
     
  • Bitcoin USD

    64,552.18
    -2,183.03 (-3.27%)
     
  • CMC Crypto 200

    1,393.71
    -30.39 (-2.13%)
     
  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     
  • Dow

    38,460.92
    -42.77 (-0.11%)
     
  • Nasdaq

    15,712.75
    +16.11 (+0.10%)
     
  • Gold

    2,330.70
    -7.70 (-0.33%)
     
  • Crude Oil

    82.76
    -0.05 (-0.06%)
     
  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     
  • FTSE Bursa Malaysia

    1,571.83
    +0.35 (+0.02%)
     
  • Jakarta Composite Index

    7,174.53
    -7,110.81 (-49.78%)
     
  • PSE Index

    6,572.75
    0.00 (0.00%)
     

BP loses bid to cut maximum Gulf of Mexico spill fine

A BP logo is seen at a petrol station in London January 15, 2015. BP is expected to announce job cuts in its North Sea operations on Thursday, the BBC reported. REUTERS/Luke MacGregor

(Reuters) - A federal judge on Thursday rejected BP Plc's (BP.L) attempt to reduce the maximum civil fine it could face over its role in the 2010 Gulf of Mexico oil spill.

U.S. District Judge Carl Barbier in New Orleans agreed with the federal government that the maximum civil penalty that BP could face under the federal Clean Water Act is $4,300 (2,789 pounds) per barrel spilled, not the $3,000 sought by BP.

The decision means BP could still face as much as $13.7 billion of civil fines from the spill. Barbier has not decided how much BP should pay, and it is unclear when he will decide.

(Reporting by Jonathan Stempel in New York; Editing by Cynthia Osterman)