According to the EPA’s press release:
Suspensions are a standard practice when a responsibility question is raised by action in a criminal case. The BP suspension will temporarily prevent the company and the named affiliates from getting new federal government contracts, grants or other covered transactions until the company can provide sufficient evidence to EPA demonstrating that it meets Federal business standards.
BP’s recent plea agreement on criminal charges arising from the explosion of the Deepwater Horizon that killed 11 workers and dumped more than 5 million barrels of crude in the Gulf of Mexico marked the company as one that would need to prove that it is a “responsible” party with which the federal government may do business.
The EPA does not indicate when the suspension may end, nor does it specify whether BP would be eligible to bid on new drilling prospects while the suspension is in effect.
Paul Ausick
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
