BP Suspended From US Contracts After $4.5B Deepwater Deal

Law360, New York (November 28, 2012, 1:40 PM EST) -- BP PLC has been suspended from contracting with the U.S. government after pleading guilty to felony misconduct and reaching a $4.5 billion settlement related to the Deepwater Horizon oil spill, the U.S. Environmental Protection Agency said Wednesday.

BP is a major supplier of fuel to the U.S. military, but the EPA was designated as the lead agency in deciding whether or not BP should have been suspended because of the spill's violation of the Clean Water Act. The agency said BP's response to the spill raised...
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