BP Regains Ability to Do Work For Government
The oil company behind the largest offshore oil spill in U.S. history can once again perform work for the federal government.
Under an agreement announced Thursday, more than two dozen BP entities and its Houston-based oil production and exploration arm can secure new government contracts. The company had been suspended from performing any new government work since November 2012. That's when BP agreed to plead guilty to criminal charges involving the death of 11 workers and lying to Congress about how much oil was spilling into the Gulf of Mexico.
For five years, BP will have to abide by a series of ethics, safety and other requirements. An independent auditor will also verify its compliance with the deal.
The company also agreed Thursday to drop its lawsuit challenging the suspension.