Billions at stake as BP heads into second phase of Gulf spill trial

|About: BP p.l.c. (BP)|By:, SA News Editor

The second phase of the trial of BP (BP) over the 2010 Deepwater Horizon rig explosion is due to begin today, with the amount of crude that spilled into the Gulf of Mexico the focus of the hearings. BP is facing fines of $2.7-18B, depending on how much oil will be ruled to have leaked and whether BP is found guilty of "gross negligence."

The government argues that 4.2M of oil flowed into the sea over the 87 days it took to seal the leak, while BP says it was nearer 2.45M.

The company's opponents argue that it rejected a plan that could have halted the spill within a month so that it could "cover up" the rate at which crude was leaking, although the oil major rejects such charges. (Previous)