State University of New York Institute of Technology
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BP suspended from US contract dealings

            The U.S. government has suspended BP from making any new federal contracts because of their "lack of integrity" in the 2010 Deepwater Horizon disaster. BP has agreed to criminal and civil penalties as well as the largest criminal fine in history. BP has to pay a settlement of $4.5 billion to cover the damage from the explosion on the Deepwater Horizon rig. Defense contract deals worth more than $2 billion are being withdrawn. According to the Financial Times, BP's activities with the U.S. account for about one-fifth of its total income from gas and oil. The suspension will last until BP can comply with ethics and business standards.

Link: http://www.globalethics.org/newsline/2012/12/03/business-integrity/


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