Bp Oil Spill, Deepwater Oil Drilling | featured news

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

BP Chief Executive Bob Dudley accused some politicians and the media on Monday of being too hasty to pin all the blame on his company for the devastating Gulf of Mexico spill - and emphasized the need for deep-water drilling.

Months after the nation’s worst oil disaster, the Obama administration will lift its moratorium on deep-water drilling in the Gulf of Mexico, the White House announced Tuesday morning.

BP said today its attempt to place a new cap on its ruptured undersea well was proceeding as planned. But while robots replace the old cap, crude is flowing freely.

The owner of the Deepwater Horizon rig, which is spewing oil into the Gulf of Mexico, on Tuesday criticized President Barack Obama's six-month ban on deepwater drilling.

President Barack Obama will announce on Thursday that a moratorium on deepwater oil drilling will continue for six months while a commission studies the reasons for the Gulf of Mexico spill, a White House aide said.