BP (NYSE:BP) has agreed to pay $50.6 million for its 2005 Texas Oil city refinery explosion that killed 15 workers. This record payment is because of the company's failure to correct hazards.
There is another $30 million that The Occupational Safety and Health Administration is still seeking to collect from BP. The amount is for other penalties that the company is contesting. This is the largest penalty ever issued by OSHA.
Hilda Solis, Labor Secretary said, "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." While Scott Dean, BP's spokesman adamantly denies that the company disregards safety in work conditions.
Between now and 2016, BP has agreed to invest $500 million in to upgrade safety conditions. Prior to this agreement, BP has contested the entire amount and only wanted to pay $50 million. Despite the hundreds of violations they were supposed to correct but didn't. OSHA said they gave the company ample time to complete the safety violations, but BP did not comply.
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