BP competes again in the US

BP can tender again for contracts in the US after coming to an agreement with authorities in relation to safety and governance obligataions

BP has reached an agreement with the US Environmental Protection Agency (EPA) to resolve all matters related to its debarment from government contracts following the Gulf of Mexico oil spill in April 2010.

The EPA described the oil giant as lacking in “integrity” in November 2012 and cited the criminal negligence of the firm as the reason for barring it from tendering for new government contracts. BP has now agreed to obligations relating to safety and operations, ethics and compliance, and corporate governance.

The explosion on the Deepwater Horizon rig killed 11 people and resulted in the release of 4.9 million barrels of oil into the sea. The company reports that settling claims and financing clean-up and restoration work has so far cost it more than $26 billion.