Reuters: BP Plc agreed to pay $785,662 to settle alleged violations of U.S. environmental regulations at its Texas City, Texas, refinery, the federal Environmental Protection Agency said on Monday. BP will pay a civil penalty of $420,662 for failure to complete and submit toxic chemical release reports between 2002 and 2005 and failure to maintain records for 2004. BP will pay $365,000 to upgrade Texas City’s ability to respond to chemical releases. The money will go to purchase an …