U.S. Lets BP Drill in Gulf Again

    A BP logo is seen in front of an apartment block near a petrol station in Moscow October 22, 2012. Rosneft announced on Monday a two-part deal worth around $55 billion that gives British oil company BP a stake of 19.75 percent in the state-controlled Russian energy firm and two seats on the board, and offers an exit for the TNK-BP's other shareholders AAR, as well. REUTERS/Maxim Shemetov (RUSSIA - Tags: BUSINESS ENERGY LOGO) - RTR39FCU

    Maxim Shemetov/Reuters

    The ban on bidding for U.S. government contracts imposed on BP in the aftermath of the 2010 Gulf of Mexico oil spill has been lifted. The move comes after the company agreed to a raft of safety, operations, and compliance requirements and said it would drop its lawsuit against the EPA. "Today's agreement will allow America's largest energy investor to compete again for federal contracts and leases," said BP America Chairman John Minge in a statement. The UK government had stepped in to vouch for the company back in December, calling the ban "excessive" and "destabilizing."

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