BP To Pay $13 Million Settlement In 2005 Texas City Explosion

Oil giant BP has agreed to pay $13 million to settle charges of failing to fix safety violations at its Texas City oil refinery after a 2005 explosion killed fifteen workers.

 

The payment is the latest move toward resolving hundreds of violations at the plant alleged by the federal Occupational Health and Safety Administration.

BP paid $50 million in 2010 to settle some of the OSHA violations. The government had been seeking a total of $80 million in penalties, the largest fine in its history.

Resolving the fines could help BP in its effort to sell the Texas City refinery, the sixth-largest in the nation.

Overall, the company has paid more than $2 billion to settle lawsuits and fines stemming from the 2005 explosion.

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...