Bp, Gulf Oil Spill | featured news

BP will pay approximately $4.5 billion and plead guilty to criminal charges as part of a settlement with the U.S. government over the deadly Deepwater Horizon rig explosion and massive oil spill in the Gulf of Mexico in 2010, the London-based oil giant announced Thursday.

The U.S. offshore drilling regulator could issue sanctions as early as next week against BP and the major contractors involved in last year's Gulf oil spill, an agency official said on Thursday.

The federal government's final report on the Gulf oil spill blames poor management, key missteps and a faulty cement job by BP and others for ...

A new oil sheen was spotted in the Gulf of Mexico, although energy company BP said Thursday the discovery had nothing to do with its operations and was far from the site of its disaster-hit Macondo well.

BP on Wednesday sued the maker of the device that failed to stop last year's calamitous Gulf oil spill and the owner of the rig that exploded, alleging that negligence by both helped cause the disaster.

In the year since the Gulf oil spill, officials along the coast have gone on a spending spree with BP money, dropping tens of millions of dollars on gadgets, vehicles and gear - much of which had little to do with the cleanup, an Associated Press investigation shows....

Several "preventable human and engineering failures were the immediate causes" of the BP Deepwater Horizon disaster last year, a presidentially appointed commission said in its much-awaited report Tuesday.

Shares in oil major BP hit a six-month high on Tuesday after The Daily Mail newspaper reported rival Royal Dutch Shell had considered a takeover bid during the Gulf of Mexico oil spill.

The Department of Justice filed a civil lawsuit against nine companies over the oil spill in the Gulf of Mexico.

BP and its chief subcontractors, Halliburton and Transocean, made decisions that increased the chances of a catastrophic blowout, a team of experts said.