There is little in common between BP

Tropical Storm Alex headed toward the Gulf of Mexico on Sunday, but while it was not expected to hit the oil spill area, experts warned strong waves and winds could hamper clean-up efforts there.

William J Broad

The deep seabed was once considered a biological desert. Life, the logic went, was synonymous with light and photosynthesis. The sun powered the planet

The oil spill in the Gulf of Mexico has not only attracted widespread attention and created a major political fallout in the US, but has posed some major issues that impact the future of global energy policy and the international response to the growing challenge of climate change.

WASHINGTON, 22 JUNE: As new evidence emerged of a breakdown in safety procedures at the Deepwater Horizon rig, the administrator of BP's oil spill compensation fund vowed to speed up payouts to victims of the disaster in the Gulf of Mexico.

President Barack Obama acted with determination and purpose in holding BP accountable in the ongoing Gulf of Mexico oil spill disaster, forcing the petroleum company to commit $20 billion to an escrow account (with no cap) that would contribute toward meeting clean-up costs and providing compensation.

London: Even as it continued to grapple with mounting problems, embattled British energy major BP Plc on Monday revised expenses related to the Mexican Gulf oil disaster upwards to $2 billion.

Under pressure from the American administration to speed up efforts to contain the oil spill and compensate victims of the disastrous slick, BP had announced a $20-billion claims fund.

John Elliott

London: BP is trying to raise $50 billion to cover the cost of the Gulf of Mexico spill and is preparing to sue its partners in the oil field, British newspapers said on Sunday.