Reuters: Plea bargain in BP oil spill case could come today

Reuters reports this morning that a plea deal could come as soon as today in the criminal case arising from the 2010 Gulf of Mexico oil spill.

The report said that BP itself is expected to plead guilty to criminal charges arising from the incident and pay a record fine.

BP, in a press release issued today, confirmed that it is in discussions with federal authorities. The company's statement also said that any deal with the U.S. Department of Justice would have no impact on any federal or state efforts to invoke civil penalty provisions of environmental laws or private lawsuits not already settled.

A plea deal may also cover allegations that BP violated criminal provisions of federal securities law, according to the BP statement.

Reuters also reports that two BP employees may be indicted in connection with the incident, which was the largest oil spill accident in history. Eleven people were killed, while 17 more were injured, when the Deepwater Horizon drilling rig exploded.  

UPDATE (10:00 AM MST) - BP said this morning that it will plead guilty to 14 criminal charges and pay a record $4.5 billion in fines and fees.

"All of us at BP deeply regret the tragic loss of life caused by the by Deepwater Horizon accident as well as the impact of the spill on the Gulf Coast region," Bob Dudley, BP's Group Chief Executive, said in a statement. "We apologize for our role in the accident, and as today's resolution with the U.S. government further reflects, we have accepted responsibility for our actions."

BP will pay $4 billion for violation of U.S. environmental laws over the next five years. It will also pay $525 million to resolve criminal allegations under federal securities laws.

The company will also take an additional $3.85 billion charge against income. That follows a $38.1 billion hit against the company's bottom line already experienced since the Deepwater Horizon incident.