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.

BP back in business in Gulf of Mexico – a year after 'Deepwater Horizon'

BP has been given permission to restart deep drilling in the Gulf of Mexico, one year after the Deepwater Horizon explosion killed 11 workers and caused the worst oil spill in history. The group plants to drill 10 existing wells from this summer, following a deal with US regulators to continue work halted by a moratorium imposed after 200 million gallons of oil were leaked into the Gulf.

Lloyd's faces tough 2011 after Japan

Lloyd's of London warned yesterday that the market faced another hard year after a series of major disasters almost halved its profits in 2010 before this year's earthquakes in Japan and New Zealand.

BP executives may face jail for manslaughter over Gulf disaster

Managers of BP could face manslaughter charges when prosecutors in the United States finally conclude their criminal investigation into the Deepwater Horizon explosion in the Gulf of Mexico last April that killed 11 rig workers and triggered the worst oil spill in US history.

BP's deal with Rosneft on the verge of collapse

BP's controversial $16bn share swap and arctic exploration deal with Russia's Rosneft was thrown into disarray last night, with an independent arbitration panel ruling it could not go ahead. The ruling dealt a potentially fatal blow to BP's most ambitious attempt to move beyond the crisis of its Gulf of Mexico oil spill last year.

A Day That Shook The World: Exxon Valdez oil spill

On 24 March 1989 an Exxon Valdez oil tanker struck reef of the coast of Alaska, spilling around 750,000 barrels of oil.

Johann Hari: Demanding cheaper oil is disastrous

The most popular cry in politics today is a pledge to deny reality and cut petrol prices. Give us our fix! Make it cheap! Make it now!

Patten: I won't be popular at the BBC

Lord Patten told MPs yesterday that if he was confirmed as the new chairman of the BBC he would expect to be unpopular – and predicted that "there will be all hell let loose" as the corporation is forced to cut spending on programming.

Shell oil exploration threatens one of the world's great wonders

Anglo-Dutch conglomerate applies for permit to drill just 30 miles off World Heritage-listed coral reef in Western Australia

Leading article: Oil exploration: not a price worth paying

Have the world's oil companies learned nothing from the Deepwater Horizon spill which poured 200 million gallons of crude oil into the Gulf of Mexico for three months last year? It seems not. The petroleum giant Shell has now applied to start exploration drilling just off Ningaloo Reef, one of Western Australia's most treasured marine-life nature reserves. It is famous for its whale sharks and one of the most bio-diverse coral reef systems in the planet's oceans.

BP bonuses for two directors despite US oil disaster

Two senior directors at BP will still be paid bonuses for 2010, despite the Deepwater Horizon explosion in April which killed 11 people and resulted in the worst oil spill in US history.

Oil spill link suspected as dead dolphins wash ashore

The discovery of more than 80 dead dolphins in the Gulf of Mexico is raising fresh concerns about the effect on sea life from last year's massive BP oil spill.

Oil spill compensation claims could soar over lawyer's links to BP

Judge's ruling could mean thousands will head straight to court

Shell profits soar to £11.5bn

The Anglo-Dutch firm outshone its troubled rival BP as it revealed a near-doubling in annual profits.

BP hit by UK safety order and alleged US market fixing

BP was defending itself on multiple fronts yesterday after the UK health and safety watchdog ordered it to fix safety lapses on some North Sea rigs while American regulators mulled charges over alleged manipulations of the gas market.

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