BP shares fall 2% on manslaughter report

BP shares closed down 2.2% in London yesterday on a report its managers could face manslaughter charges following the Gulf of Mexico oil spill, which could lead to much higher fines over the disaster.

US prosecutors are considering whether to pursue manslaughter charges against BP managers for decisions made before the explosion last April on the rig that killed 11 workers and caused the biggest offshore spill in U.S. history, according to a report from Bloomberg.

The Department of Justice is investigating possible criminal charges related to the deaths of the workers, a US official said.

These charges could include manslaughter, but the official declined to confirm this was under consideration. 

BP has admitted mistakes in the run-up to the rig blast but has denied accusations it was 'grossly negligent,' a charge which could add tens of billions to the final bill it pays for the disaster. 

If BP is found to be grossly negligent, the maximum possible fine it faces would rise to more than $21bn from around $5bn. 

It could also mean the company could not force its partners in the well, Anadarko Petroleum Corp and Mitsui & Co, to pay their 35% share of the total clean-up bill, now estimated at $42bn. 

It could also open the floodgates to legal claims worth many billions. 

BP declined to comment. 

BP shares closed down 2.2% in London, against a 0.3% drop in the STOXX Europe 600 Oil and Gas index.

BP America President Lamar McKay has said the company has spent $19bn recovering from the disaster so far, and now had a better handle on the ultimate cost of the spill.