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BP fined record $4.5bn

BP is to pay $4.5bn (€3.53bn) in penalties after pleading guilty to felony misconduct in the Deepwater Horizon disaster that caused the worst offshore oil spill in US history.

The settlement includes a $1.256bn criminal fine, the largest in US history, the company said.

A settlement with the US Securities and Exchange Commission is also part of the deal.

There are also payments to the National Fish and Wildlife Foundation and the National Academy of Sciences.