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.

Rosneft's TNK-BP takeover set to create biggest oil firm

Rosneft was on course to buy both halves of the TNK-BP Russian joint venture for an estimated $56bn (£35bn) last night after holding audacious overlapping takeover talks with the owners, BP and the AAR consortium.

Rosneft takeover of TNK-BP set to create biggest oil firm

BP to get stake in Russian giant with access to massive oil reserves in Arctic

Marathon takes over running of troubled refinery after BP sells up

The oil giant BP has sold its troubled Texas City oil refinery for $2.5bn (£1.6bn) to United States firm Marathon Petroleum.

BP sells off troubled refinery in US to help defray Deepwater costs

BP has sold its troubled Texas City oil refinery for $2.5bn (£1.5bn) to the US company Marathon Petroleum.

Album: Mama Rosin Bye Bye Bayou Moi J'Connais bbbb

Young Cajun garage-rockers Mama Rosin have found their perfect producer in Jon Spencer: an alliance of primitivist spirits keen to keep a roots music-form out of the museum, much as with Spencer's earlier work with bluesman RL Burnside.

Fine, boycott the Bard – but if BP doesn't pay for the arts, who will?

If oil be the fuel for us, drill on? (sorry, Shakespeare); Why the arts minister's Playstation should be confiscated and Martha Wainwright retreads the family warpath

Market Report: Erotica boom keeps WH Smith sizzling

Investors really must be keen on giant bars of Dairy Milk for £1. The newspapers-to-stationery seller WH Smith, up 15.5p to 597.5p, got investors excited with a pre-close trading update that revealed it expects to reach profit of £100m for the first time in more than a decade. Shares hit an all-time high yesterday, so its strategy of selling bottles of water and magazines to captive audiences in train stations and airports has paid off.

Cuadrilla looks to drill new well

Cuadrilla Resources is to submit a planning application for a horizontal well in Lancashire to discover the viability of recovering gas trapped within the county's shale foundations.

BP to sell American refinery

BP continued its giant sell-off after agreeing to dispose of its Carson refinery in California to America's Tesoro for $2.5bn (£1.6bn) yesterday.

Refinery sell-off raises $2.5bn towards BP's Gulf of Mexico spill bill

BP continued its giant sell-off after agreeing to dispose of its Carson refinery in California to America's Tesoro for $2.5bn (£1.6bn) yesterday.

BP profits dive in wake of $5bn writedowns

BP booked an extra $5bn (£3.2bn) in writedowns yesterday as profits slumped and the bill for the Gulf of Mexico oil spill spiralled higher.

The company has set aside $38bn to cover the bill for the Gulf of Mexico oil spill, which claimed 11 lives

BP's troubled waters

As problems continue to pile up, the oil giant's claim to have turned a corner is still seen as premature

BP still paying for Gulf of Mexico oil spill

The Gulf of Mexico oil spill continues to plague BP more than two years after the disaster as the energy giant has revealed another 847 million US dollar (£538 million) hit to cover rising legal costs.

New Russia blow for BP as oligarchs veto dividend

BP's already icy relationship with the Russian oligarchs who own the other half of its TNK-BP joint venture took another turn for the worse yesterday when they vetoed a $1bn (£640m) dividend.

London Olympics cannot act as a 'global policeman'

The London Olympics cannot act as a “global policeman” checking on everything done by all the major companies who are its partners and sponsors, according to a senior official of LOCOG, the games organising committee.

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