BP found grossly negligent in Gulf spill, faces billions in fines

(NEW ORLEANS) — A federal judge ruled that BP Plc was grossly negligent in causing the 2010 oil spill in the Gulf of Mexico, leaving the company exposed to billions of dollars in potential fines, Bloomberg BusinessWeek reported. The company's share fell as a report said the fines could be as much as $18 billion. The U.S. Justice Department said BP will be "held fully accountable," while the company suggested that it would appeal because the government failed to prove willful misconduct.

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By Professional Mariner Staff