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Business News

BP fined $25m over Alaska oil spill

BP has agreed to pay a $25m (£15m) civil penalty plus interest to settle a federal investigation into a 2006 pipeline oil spill on Alaska's North Slope, according to court papers filed yesterday.

To address the oil spill in Alaska, the company has "started implementation and operation of some corrective measures, including replacement of the Prudhoe Bay oil transit lines, improved leak detection on the oil transit lines, and improved operation and maintenance of the pipeline system," the proposed consent decree said.

The fine is small by oil industry standards.