Agreement lets BP seek Gulf of Mexico contracts

03/14/2014 | Bloomberg

BP has reached an agreement with the Environmental Protection Agency that will once again allow the company to seek leases and government contracts in the Gulf of Mexico. The EPA had banned BP from pursuing such contracts in 2012, two years after an oil spill in the Gulf. Meanwhile, a New Orleans judge is still determining how to apportion blame for the incident, and the oil company could be slapped with billions of dollars in fines as a result of that case.

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