OIL giant BP has been suspended from new contracts with the US government because of the way it handled the Gulf rig disaster.
The US Environmental Protection Agency said the suspension was due to BP’s “lack of business integrity as demonstrated by the company’s conduct with regard to the Deepwater Horizon blow-out, explosion, oil spill, and response.”.
The news came as BP announced it had agreed to sell a range of North Sea oil fields to Taqa, the Abu Dhabi National Energy Company, in a £ 687m as it continues to raise cash to pay for the 2010 Gulf of Mexico oil spill.
Shares closed 1.9p lower at 429.4p.
