August 2023
Intermediate to advanced
818 pages
28h 27m
English
Content preview from International Corporate Governance, 3rd Edition
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CASE STUDY 9BP
There are a number of recent cases of directors of major corporations who have encountered the environmental risks that can evolve into immense unforeseen costs. On
20 April 2010, there was an explosion of gas on the BP Deepwater Oil Rig of massive dimensions. Eleven oil workers were killed, and as the explosion created a huge leak in the drill pipeline millions of gallons of crude oil was spilt into the gulf of Mexico, creating the worst environmental disaster in US history. Ultimately the company pleaded guilty to manslaughter and other criminal charges and paid out tens of billions of dollars in a series of fines, penalties, and settlements (Mattera 2010).
On 5 February 2015, BP agreed to a $20.8 ...
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