BP no longer banned from US government contracts

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BP no longer banned from US government contracts

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The US government has lifted a ban on BP bidding for new federal contracts.

That came after after the company reached an agreement with Washington on safety, ethical and corporate governance requirements.

It means BP can be considered for federal contracts on everything from fuel supply contracts to offshore oil exploration leases.

It is one of the largest suppliers of fuel to the US government.

The contract ban was imposed after the 2010 Gulf of Mexico spill.

BP had complained it was being unfairly penalised.

The company is still paying out millions of dollars to settle damages claims from Gulf residents in a contentious process BP says is being mismanaged by the administrator, Louisiana lawyer Patrick Juneau.

BP has set aside about $42 billion (30 billion euros) in charges related to the spill.

After news of the agreement, BP’s shares rose in London and New York, a sign investors were hopeful the company could now try to grow its US offshore operations.