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BP Resolution With DOJ Includes $4 Billion Paid in Installments

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Nov. 15 (Bloomberg) -- BP Plc reached a settlement with the U.S. Department of Justice for $4 billion to end all criminal charges relating to the worst U.S. oil spill.

The payments will be made in installments over a period of five years, the London-based company said in a statement today. BP will also pay to $525 million to settle charges with the Securities and Exchange Commission.

The company pleaded to a total of 14 charges including 11 felony counts of misconduct or neglect of ships officers and one count of obstruction of congress.

Link to Statement:{NSN MDJE0Y3HBS3K <GO>}

Link to Company News:{BP/ LN <Equity> CN <GO>}

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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