BP: Back in Business Following Gulf Catastrophe

The United States government has lifted a ban excluding BP from new federal contracts after the company filed a lawsuit claiming it was being unfairly penalized for the 2010 Deepwater Horizon oil spill, which spilled around 4.9 million barrels of oil into Gulf of Mexico waters and claimed 11 lives. The ban, instituted in November 2012, barred BP from participating in new federal contracts, but permitted the company to fulfill existing contractual agreements. 

According to the United States Environmental Protection Agency (EPA), the settlement and the decision to lift the ban came after BP committed to a set of safety, ethical and corporate governance requirements. 

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