Saturday, May 29, 2010

BP (NYSE:BP) Fined for Safety Violations

BP (NYSE:BP) didn't need any more bad news, but they unfortunately got it, as they have agreed to pay a fine of $69,200 for safety violations at its Cherry Point refinery in Washington.

The plant, located in Blaine, Washington, produces 225,000 barrels a day, and BP received 13 serious safety violations for it recently.

While BP could have appealed the citations, they wisely decided to let it go and pay them, as the increased and prolonged process would have done little to help their reputation.

Twelve of the thirteen violations related to the management of hazardous chemicals.

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