Exxon Mobil Corporation

Deepwater Horizon: This was no Armageddon

When BP's Deepwater Horizon exploded last April, the world feared the worst. But it has not come to pass, says David Usborne, and what's more, money is proving a more corrosive force than the oil

The US couples who bought their own slice of Downton Abbey

In downton abbey, a wealthy American heiress rides to the rescue of a British estate's hard-up owners. Now rich viewers in the US are being invited to buy their way on to the credits of the popular ITV series, in an attempt to fill the funding gap for quality British television drama.

Giant skimmer tested by BP to clean up oil spill

A ship described by its owners as the world's largest oil skimmer was tested in the Gulf of Mexico at the weekend – and represents the latest hope for relief workers trying to clean up the mess from BP's Deepwater Horizon oil well, which has now been spewing crude into the ocean for 76 days.

White House turns up heat on BP with flurry of new demands

The White House is ratcheting up pressure on BP over the Gulf of Mexico oil spill, as the company meets today to discuss the future of the dividend payments while it assesses the scale and costs of the unfolding environmental disaster.

US expects Gulf oil slick to hit land tomorrow

Senior Obama administration officials said on Thursday a widening oil spill in the US Gulf Coast will come ashore tomorrow evening and that it may take 90 days to shut off the oil leak valve.

No cash bonuses for top Goldman staff

The US investment bank Goldman Sachs says its 30 top managers will receive no cash bonuses this year. They will instead have to make do with shares which they will be banned from selling for five years and could lose if they fail to raise concerns over risk.

Iraqi government approves BP oil field offer

Iraq's government today approved a BP-led consortium's offer to develop a giant oil field in the south, moving forward with the only deal struck during a much-hyped but ultimately disappointing international oil auction.

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Exxon could face payout 20 years after oil spill

Just after midnight, almost 20 years ago, an unqualified crewman was at the helm of the Exxon Valdez super-tanker when it ran on to a reef sending 11 million gallons of crude oil spilling into the Prince William Sound.