News BP had originally projected that its settlement in the case would cost $7.8 billion but later boosted this to $9.2 billion

A panel of the 5th US Circuit Court of Appeals has affirmed a federal judge's approval of a multi-billion dollar settlement between BP Plc and businesses and individuals who lost money and property in the 2010 Gulf of Mexico oil spill.

Oil spill costs BP $6bn so far

Oil giant BP today said the Gulf of Mexico disaster had cost it 9.5 billion US dollars (£6.1 billion) so far as it confirmed the leaking well had been stopped for good.

Gulf disaster well 'is effectively dead'

A cement plug has permanently killed BP's runaway well nearly 2.5 miles below the sea floor in the Gulf of Mexico, five agonising months after an explosion sank a drilling rig and led to the worst offshore oil spill in US history.

Blown-out BP oil well finally sealed

A cement plug has permanently killed BP's runaway well nearly 2.5 miles below the sea floor in the Gulf of Mexico - five months after an explosion sank a drilling rig and led to the worst offshore oil spill in US history.

BP dropped from ethical benchmark

BP was kicked out of the ethical "FTSE4Good" index yesterday because of its role in the Gulf of Mexico oil spill. The index is used by many fund managers operating "ethical" investment funds to screen companies before making investments.

Gulf spill well 'no longer a threat'

The ruptured well which pumped almost five million barrels of oil into the Gulf of Mexico has been secured and no longer constitutes a threat, it has been confirmed.

Gulf oil disaster costs BP £5.2 billion

Oil giant BP said today that the cost of tackling the Gulf of Mexico disaster had risen to £5.2 billion so far.

BP pays £3bn into escrow fund as spill claims add up

BP yesterday paid the first $3bn installment into its $20bn escrow fund, which was set up two months ago to meet liabilities stemming from the Gulf of Mexico oil leak.

Royal Dutch Shell boosts profits by a third

Anglo-Dutch oil giant Royal Dutch Shell put beleaguered rival BP in the shade today with a 34% hike in second-quarter profits to 4.2 billion US dollars (£2.7 billion).

Record losses reveal cost of disaster and prompt $10bn sell-off

BP reported one of the worst-ever losses in British corporate history yesterday after estimating the total cost of the Gulf of Mexico oil spill at $32bn (£21bn).

Greenpeace close BP petrol stations

BP petrol stations were shut down by activists today in a bid to urge the oil company to adopt greener energy policies.

Anadarko looks at onshore oil

Anadarko Petroleum, the Texan partner in BP's Deepwater Horizon oil well which exploded in April, is eyeing a 75 per cent stake in the onshore Jolly Ranch scheme in Colorado.

BP board to decide on Hayward

The future of Tony Hayward, BP's chief executive, hangs in the balance this weekend as the BP board meets tomorrow to decide whether the beleaguered boss should quit over his role in the Gulf of Mexico oil spill.

No signs – yet – of leaks from BP's oil cap

BP was encouraged yesterday as the final hours ticked away on a two-day trial run of a cap on its Gulf of Mexico well. A spokesman said there were no signs of new leaks and oil was being kept out of the water.

Obama cautious on BP's oil leak breakthrough

President Barack Obama today said BP's breakthrough in temporarily stopping the flow of oil into the Gulf of Mexico was "good news", but warned there was still lots to do.

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