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16 Jul 2006


BP reaches agreement with Colombian farmers

BP has reached agreement with a group of Colombian farmers who had accused the oil giant of devastating their farms with an oil pipeline that caused soil erosion, the farmers' lawyer said on Sunday...The farmers had threatened to pursue a lawsuit in London...As part of the agreement BP will establish an "Environmental and Social Improvement Trust Fund". "The Colombian farmers are pleased with the outcome of the mediation and are of the view that BP Colombia has acted in a fair, committed and sympathetic manner," Martyn Day, lawyer for the farmers, said...BP said...it was pleased to have secured an "amicable settlement" with no admissions of liability.