BP Seen Escaping U.S. Contracting Ban After Oil Spill Settlement
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BP Plc, which reached a settlement with the U.S. government over the biggest oil spill in the nation's history, may escape a federal contracting ban.
In an agreement with the Justice Department announced yesterday, the London-based company will pay $4.5 billion, including a record $1.26 billion criminal fine, to end all criminal charges and resolve securities claims relating to the April 2010 well blowout in the Gulf of Mexico that killed 11 people.