via BBC News Two people are missing and four have been injured by a fire on a shallow-bed oil rig in the Gulf of Mexico, off the Louisiana coast, officials say. The four people who were hurt were in critical condition in hospital, a spokeswoman said. Earlier, the US Coast Guard said two people […]

New York — As the Gulf oil spill gushed out of control, BP’s financial liabilities seemed big enough to sink the company. No more.

An offshore oil rig has exploded in the Gulf of Mexico, west of the site of the April blast that caused the massive oil spill.

BP has agreed to put roughly $20 billion into an escrow account to cover costs related to the oil spill in the Gulf of Mexico, a senior White House official told CNN Wednesday. The official said the agreement was worked out ahead of a highly-anticipated meeting between BP executives and President Obama in Washington. The […]

The effort to place a massive containment dome over a gushing underwater wellhead in the Gulf of Mexico was dealt a setback when a large volume of hydrates — icelike crystals that form when gas combines with water — accumulated inside the vessel, a BP official said Saturday. The dome was moved off to the […]

BP will “absolutely be paying for the cleanup operation” of the huge oil spill in the Gulf of Mexico, chief executive Tony Hayward said Monday. “There’s no doubt about that.” “It is indeed BP’s responsibility to deal with this and we’re dealing with it,” Hayward told NPR’s “Morning Edition.” And, he added, “where legitimate claims […]

Louisiana Governor Bobby Jindal has warned that the sprawling Gulf of Mexico oil slick threatens the very way of life of people in his state. As President Barack Obama prepared to fly in to see the devastation for himself, experts said the slick had tripled in size in just days. Attorneys general from five affected […]

The U.S. Coast Guard prepared to set fire Wednesday to portions of a growing oil slick in the Gulf of Mexico to keep the pool of crude away from sensitive ecological areas in the Mississippi River Delta. Efforts to cap the well that was opened up last week when the Deepwater Horizon drill rig blew […]