Inside these posts: Environment

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Blown-out BP well is declared dead

The site of the Deepwater Horizon/BP oil spill in the Gulf of Mexico. (HO/AFP/Getty Images)

With an an injection of cement 18,000 feet below the ocean’s surface, the BP well in the Gulf of Mexico was declared dead after nearly five months of heartache, misery and worry.

The news was “real good,” said Canty, a 31-year-old shrimper, but it wasn’t likely to change his life immediately. His shrimp boat is still contracted out indefinitely to BP, he said, and for the time being, he expects to remain among the 25,200 people hired to finish cleaning up the largest offshore oil spill in U.S. history. Get the full story »

BP: Multiple companies to blame for oil spill

A fire boat response crews battle the blazing remnants of the Deepwater Horizon on April 21. (AP /US Coast Guard)

Shares in BP PLC tracked slightly higher after the release of an internal report on the disastrous oil spill in the Gulf of Mexico that deflects much of the blame onto rig owner Transocean Ltd. and contractor Halliburton Co. The stock bounced as high as $6.44 after the report was made public Wednesday, before retreating a little to trade up 1.8 percent in early afternoon trading London time.

BP took some of the blame for April 20 explosion on the Deepwater Horizon rig that killed 11 workers and started the worst oil spill in U.S. history. It acknowledged in the report that its own employees misinterpreted a safety test that should have raised a red flag about a potential blowout of the Macondo well. Get the full story »