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BP is fighting the settlement it agreed to last summer that let the oil company avoid thousands of potential lawsuits over the 2010 Gulf of Mexico oil spill. BP now says the claim process is corrupt and wants to stop all the money flowing from its claims fund.
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Deep-sea natural gas reservoirs sometimes contain oil, but experts say it's highly unlikely Tuesday's accident in the Gulf of Mexico would leak anything like the BP spill. And there are signs suggesting the only thing crews have to deal with is leaking gas.
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The Coast Guard will be responsible for any reports of residual oil in areas outside BP's Louisiana patrol zone along the Gulf Coast. There's no end in sight for BP's cleanup efforts in Louisiana, a Coast Guard officer says.
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Oil giant BP has agreed to pay $1 billion for coastal restoration along the Gulf of Mexico because of the 2010 oil spill. But the nature of some of the projects, including boat ramps and a beachfront hotel, has some environmental groups raising questions about what counts as coastal restoration.
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A federal judge ruled that prosecutors failed to prove the executive knew about a pending congressional investigation into oil flowing into the Gulf of Mexico in 2010. The decision left in place a second charge against the executive, for allegedly making false statements to investigators about the oil flow rate.
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A federal judge will hear testimony Tuesday in a civil suit over who is to blame and who should be financially liable for the 2010 oil spill in the Gulf of Mexico. On Monday, the court in New Orleans heard more than eight hours of opening statements from lawyers for the government and several defendants.
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The federal government will seek to show BP was guilty of gross negligence. The company will make the case that the blame should be shared with other firms. It's possible a settlement will be reached.
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The British oil company said its net profit was about a billion dollars lower than a year earlier. BP has been shrinking as assets have been sold off to pay for its liabilities tied to the 2010 Gulf of Mexico oil spill.
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The deal also includes a record $4 billion in criminal penalties. Family members for some of those victims had urged stiffer sanctions.
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The federal agency cited BP's "lack of business integrity" in dealing with the 2010 Gulf oil spill. The London-based oil giant agreed to plead guilty to criminal misconduct in the case and also agreed to pay a record $4 billion in penalties.