oil spill

The U.S. has approved the first permit to resume deepwater drilling in the Gulf of Mexico since the BP oil spill a year ago. The Noble Energy project, 70 miles southeast of Venice, La., is slated to be deeper than the blown out BP well.

Stephen Baldwin has sued fellow actor Kevin Costner over the sale of technology used to help clean the BP oil spill in the Gulf of Mexico. Baldwin says Costner owes him a share of an $18 million deposit that BP made as part of a larger purchase.

The Obama administration will temporarily ban the sale of new offshore oil drilling leases in the eastern Gulf of Mexico and off the Atlantic coast, Interior Department Secretary Ken Salazar said Wednesday, a policy change made in response to lessons learned from BP's horrific Deepwater Horizon oil spill.

BP (BP) may have ignored potential risks related to the Deepwater Horizon drilling rig and the company suffered from a "lack of operating discipline" according to an interim report. The report from the National Academy of Engineering and National Research Council questions the competency of key...

The U.S. Interior Department has accused the White House of misrepresenting scientists' views to imply they were in favor of an oil-drilling ban. In actuality, the scientists hadn't been asked for their opinions on whether the ban would do any good, according to a department report.

The lead investigator for the presidential panel's investigation of April's Deepwater Horizon oil-spill disaster that killed 11 workers refuted previous reports that the rig's majority owner BP Plc and contractor Halliburton Co. compromised safety by cutting corners during the rig's construction, the New York Times reported.

Seven companies involved in the oil and gas industries will pay the U.S. government a total of $236.5 million to settle corruption charges. An investigation by the SEC and the Justice Department alleges that the companies bribed overseas officials to lower customs duties, extend drilling contacts and streamline the permit process for oil drilling.

BP (BP) will sell four deep-water oil and gas fields in the Gulf of Mexico for $650 million. The company will sell the fields to Marubeni Oil and Gas, a unit of Japan's Marubeni Corp., The Wall Street Journal said. The deal could be completed by early 2011. Sponsored Links The oil giant's net...

The role of BP lawyers in the company's report on the explosion in the Gulf of Mexico is casting doubts on the impartiality of the study.

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...