Oil Spill, Bp Oil Spill | featured news

BP is to place $20bn in an independent fund to pay out compensation to victims of the Gulf oil spill, US media report.

The president says he'll discuss how BP must pay claims "fairly and quickly" to compensate oil spill victims. He also says he'll name separate commanders for Florida, Alabama and Louisiana to speed response to states' residents.

President Obama previewed part of his Oval Office address in an appearance here Tuesday morning, saying he will talk about the need for BP to pay out claims "quickly and fairly'' to compensate victims of the worst environmental disaster in U.S.

Executives from other major oil companies turned on BP Plc and defended their own drilling practices during a congressional hearing on Tuesday as they sought to stave off new government regulations in the wake of BP's oil spill in the Gulf of Mexico.

The  cost of cleaning the Gulf oil spill and compensating its victims won’t be known for years.

Geese and ducks were coated with oil and a park was closed as officials started a cleanup effort expect to last weeks.

Oil from the worst spill in U.S. history could soon end up at gas stations, construction sites and even grocery stores .

Environmentalists plan to stage a worldwide protest against BP on Saturday as the petroleum giant takes hits from politicians and Gulf residents.

Government scientists say as many as 40,000 barrels of oil per day have been gushing into the gulf. BP has said the blown-out well will not be plugged before August.

Government scientists said Thursday that as many as 40,000 barrels of oil have been flowing daily from the blown-out BP well, doubling earlier estimates and greatly expanding the scope of what is already the largest spill in U.S.

US President Barack Obama is due to meet relatives of the 11 workers killed in an explosion on the BP oil platform in the Gulf of Mexico.A presidential spokesman said he would express his condolences to relatives.

BP shares sunk Thursday in London as U.S. politicians pressed the British oil company to halt its dividend payments and fork out greater compensation for American workers.