A day of reckoning arrived for British Petroleum on Thursday as the oil giant agreed to plead guilty to a raft of charges in the deadly Gulf of Mexico spill and pay a record $4.5 billion, including th

BP said on Friday it reached a $7.8 billion deal to settle claims from fishermen and other private claimants affected by the Gulf of Mexico oil spill ahead of the start of a blockbuster US trial.

The

Tens of billions of dollars will be at stake when BP heads to a US court on February to determine how much it owes for the massive Gulf of Mexico oil spill and how much it can shift to subcontractors.

British energy giant BP said on Monday it had recovered $4.0 billion in costs linked to last year's devastating Gulf of Mexico oil spill from US group Anadarko Petroleum Company.

"BP today announced

Engineers monitored a newly-capped oil well in the Gulf of Mexico on Sunday amid cautious optimism the months-long spill behind the worst environmental disaster in US history has been finally containe

New Orleans, July 16: BP said on Friday that the early test results were heartening and there were no signs of fresh oil leaks, as the cap sealing its stricken undersea well in the Gulf of Mexico held

For the first time in nearly three months, oil has stopped flowing into the Gulf of Mexico as a robotic submersible slowly closed a valve on BP's ruptured well's new sealing cap.

The technological br

Louisiana, July 14: BP was poised to carry out a make-or-break test on Wednesday on the integrity of the leaking Gulf of Mexico oil well, following a delay imposed by US authorities.

The former Coast

Washington, July 13: The most ambitious attempt yet to halt the oil gushing from the floor of the Gulf of Mexico was underway as a new, tight-fitting cap was successfully placed on the damaged well-he

Washington, July 9: It is amazing but true. Even as tonnes of oil spill in the Gulf of Mexico, experts have discovered two new fish species in the now polluted waters.

A research describes the new sp