BP's $4.5 billion settlement of federal criminal charges in the massive oil spill in the Gulf of Mexico off the US coast in 2010 is a record amount, and a significant sum of money.

BP Plc will pay $4.5 billion in penalties and plead guilty to felony misconduct in the Deepwater Horizon disaster, which killed 11 workers and caused the worst U.S. offshore oil spill ever.

Will pay $4.5 billion in penalties and plead guilty to felony misconduct in the Deepwater Horizon disaster

BP Plc will pay $4.5 billion in penalties and plead guilty to felony misconduct in the Deepwater Horizon disaster, which caused the worst US offshore oil spill ever. US Attorney General Eric Holder called the deal a "critical step forward" but was adamant that it did not end the criminal investigation of the spill.

New Delhi: The single biggest surprise on Sunday was easily S Jaipal Reddy’s transfer from the petroleum ministry, with many viewing it through the prism of his runins with corporate interests.

The state of Louisiana has asked a federal judge to declare a jury trial to decide on its claim for more than $1 billion from BP Plc to compensate the state for economic losses resulting from the 2

Business: Holding out hope for the future of Reliance Industries’ showcase KG-D6 hydrocarbon assets and India’s mining and energy industries, the government and the company have agreed on a develop

To focus on increasing gas and oil production

U.K.’s BP plc and Reliance Industries Limited (RIL) are going to focus on increasing oil and gas production from their assets in future despite having surrendered nine out of the 21 blocks due to poor prospects. BP, which had bought 30 per cent stake in RIL for $7.2 billion, is a partner in 21 blocks despite having bought stake in 23 blocks as the Cabinet had only approved its partnership in 21 blocks in the KG-D6 basin.

New Delhi UK's BP plc has relinquished or surrendered 9 out of the 21 oil and gas blocks where it had bought 30 per cent stake from Reliance Industries for USD 7.2 billion, due to poor hydrocarbon prospects.

BP had last year bought 30 per cent stake in a total of 23 oil and gas blocks of RIL including the gas discovery areas of KG-D6 and NEC-25. The Cabinet had however approved of BP taking stake in 21.

Panel Gives Conditional Approval For D6 Block, Gas Output Set To Rise

New Delhi The Supreme Court on Tuesday approved an arbitral panel comprising its two former chief justices, S P Bharucha and VN Khare, to resolve a dispute between Mukesh Ambani-run Reliance Industries (RIL) and the ministry of petroleum and natural gas over the recovery of cost for developing the eastern offshore KG-D6 gas fields.

Justice SS Nijjar while disposing of RIL’s plea said that the two arbitrators would appoint a third umpire arbitrator to resolve the differences.