BP (BP) will join an oil spill response group formed by fellow oil giants Exxon Mobil (XOM), ConocoPhillips (COP), Chevron (CVX) and Royal Dutch Shell (RDS.A).

BP will make its underwater well containment equipment and personnel available to the group, called the Marine Well Containment Co., The Washington Post said.

The other four oil companies said they would spend $1 billion on equipment and training to be deployed in any future Gulf of Mexico oil spill. Exxon Mobil will operate the group.

BP arranged for the manufacture of containment devices only after the April 20 Deepwater Horizon disaster, which left crude oil spewing into the Gulf of Mexico.

Increase your money and finance knowledge from home

Socially Responsible Investing

Invest in companies with a conscience.

View Course »

Income Investing

Grow your nest-egg.

View Course »

Add a Comment

*0 / 3000 Character Maximum