BP is prepared to challenge the federal government's proposed fines against it over the 2010 Gulf of Mexico oil spill in a court hearing next week. The government estimated that 4.9 million barrels of oil were leaked, but BP believes the amount is exaggerated by at least 20% and includes 810,000 barrels of oil that the company secured from the well. "BP believes that a figure of 3.1 million barrels should be the uppermost limit of the number of barrels spilled that should be used in calculating a Clean Water Act penalty," the U.K. oil major said.

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