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Posts on ‘December 16th, 2010’

BP sued by the US government over Gulf oil spill

By Hugo Duncan
Last updated at 10:36 PM on 15th December 2010

The US government last night sued BP in an effort to recoup billions of dollars in the wake of the Gulf of Mexico oil spill.

The Obama administration is seeking unlimited damages from BP and other firms linked with the disaster. It is also suing BP’s insurer Lloyd’s of London.

The move could put pressure on BP’s share price when the stockmarket opens today, potentially making the firm more attractive to a bidder. Rival Royal Dutch Shell is tipped as a predator.

Damaging times: The Obama administration wants recompense for the Deepwater Horizon disaster
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