Oil giant BP faces more safety issues

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Bill Radke: British Petroleum is expected to be hit today with the biggest fine in the history of the Occupational Safety and Health Administration. Marketplace’s Stephen Beard has the story from London.

Stephen Beard: The $87 million fine stems from the explosion at BP’s Texas-city oil refinery in 2005. Fifteen workers died in that disaster. Officials from OSHA — quoted in the New York Times — say BP has failed to correct many safety problems at the facility. They claim that four years after the blast, the company still hasn’t complied with hundreds of safety notices.

James Batty is with Petroleum Intelligence News.

JAMES BATTY: It’s quite a surprise in a way. And it will be a big blow for the company. Ever since the explosion took place they’ve been constantly stressing safety, their emphasis on safety and improving their safety practices.

BP says it’s disappointed by OSHA’s actions. It has appealed to an independent review commission. The Texas explosion has proved the company’s costliest accident. It’s already paid more than $70 million in penalties and fines and has set aside more than $2 billion to meet legal claims.

In London this is Stephen Beard for Marketplace.