BP agrees to pay record $50.6m fine for Texas explosion

[dipsydoodle]

Source: BBC News

BP has agreed to pay a record $50.6m (£32.5m) fine for failing to correct safety hazards at its Texas City plant.

An explosion at the refinery in 2005 killed 15 people.

The US Occupational Safety and Health Administration (OSHA) said the penalty "rightly reflects BP's disregard for workplace safety". BP said it had worked to enhance safety at the plant.

OSHA is still working to collect another $30m from the company for other penalties that BP is contesting.

Read more: http://www.bbc.co.uk/news/business-10960486

---

Bloomberg link :

WASHINGTON - The U.S. Department of Labor’s Occupational Safety and Health Administration today announced that BP Products North America Inc. will pay a full penalty of $50.6 million stemming from the 2005 explosion at its Texas City, Texas, refinery that killed 15 workers and injured 170 others. The agreement resolves failure-to-abate citations issued after a 2009 follow-up investigation. In addition to paying the record fine, BP has agreed to take immediate steps to protect those now working at the refinery, allocating a minimum of $500 million to that effort.

“This agreement achieves our goal of protecting workers at the refinery and ensuring that critical safety upgrades are made as quickly as possible,” said Secretary of Labor Hilda L. Solis. “The size of the penalty rightly reflects BP’s disregard for workplace safety and shows that we will enforce the law so workers can return home safe at the end of their day.”

Under the agreement, BP immediately will begin performing safety reviews of the refinery equipment according to set schedules and make permanent corrections. The agreement also identifies many items in need of immediate attention; the company has agreed to address those concerns quickly and to hire independent experts to monitor its efforts. Additionally, the agreement provides an unprecedented level of oversight of BP’s safety program including regular meetings with OSHA, frequent site inspections and the submission of quarterly reports for the agency’s review. Finally, in a step toward workplace safety corporate-wide, BP agrees to establish a liaison between its North American and London boards of directors and OSHA, which will allow the agency to raise compliance problems at the highest level.

“Safer conditions at this refinery should result from this arrangement, which goes far beyond what can normally be achieved through abatement of problems identified in citations,” said Assistant Secretary of Labor for OSHA Dr. David Michaels. “Make no mistake, OSHA will be watching to ensure that BP complies with the agreement and safeguards its workers.”

http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=BP:US&sid=auSggUcpZfFM

[BolivarianHero]

1. Unrecommend.

Should be at least 10 times that.

[anigbrowl]

3. Wait, you're unreccing because you don't like the *facts* of the news story?

[AndyA]

2. I thought they'd already been levied a fine of $86 million, or something like that

for this accident. Is this an additional fine, or a reduced fine?

[Omaha Steve]

4. BP pays record fine of $50.6 million for deadly explosion (killed 15 and injured 170 other workers)

Source: The Hill

By Vicki Needham

BP will pay a record $50.6 million penalty for failing to fix safety problems that led to the 2005 explosion at a Texas refinery that killed 15 and injured 170 other workers.

BP also has agreed to spend $500 million to improve working conditions at the Texas City refinery, the Labor Department announced Thursday night.

"The size of the penalty rightly reflects BP's disregard for workplace safety and shows that we will enforce the law so workers can return home safe at the end of their day," said Labor Secretary Hilda Solis in a statement. "This agreement achieves our goal of protecting workers at the refinery and ensuring that critical safety upgrades are made as quickly as possible.

The oil giant paid a then-record $21 million fine after the explosion five years ago, while also agreeing to improve safety conditions.

Read more: http://thehill.com/blogs/on-the-money/corporate-governance/114087-bp-pays-record-fine-of-506-million-for-deadly-explosion

[90-percent]

5. Rachel tonight

She said that the fine for the explosion was $20 million. this new record $50 million from OSHA is for violations that occurred AFTER the explosion.

Correct me if I'm wrong, please.

-90% Jimmy

[jobendorfer]

6. if the fine were $5 billion --

it might -- briefly -- get their attention, as that would possibly affect next quarter's earnings.

J.

[Archae]

7. Sometimes China has the right idea.

They execute the bastards.

Ok, ok. No executions.
But going to jail for murder might get their attention.

[dixiegrrrrl]

8. Aynone know where these fines end up?

who they actually go to in the gov't?
How they are actually paid: lump sum, quarterly, etc?

I am just cynical enough to think that the gov't is finally imposing fines to add to much needed revenue stream.
Or to give to the pentagon. whatever.