From the Associated Press:

The Occupational Safety and Health Administration has issued a record $87 million fine against oil giant BP PLC for failing to correct safety hazards after a 2005 explosion killed 15 people at its Texas City refinery.

The fine — the largest in OSHA's history — comes after a 6-month inspection revealed hundreds of violations of a 2005 agreement to repair hazards at the refinery.

As NPR's Frank Langfitt reported in 2006, investigators determined that cost-cutting and faulty equipment were at fault: