Group items tagged

Energy company BP grappled with containing a massive oil leak on the floor of the Gulf of Mexico as officials prepared to open investigations Tuesday into the cause and long-term political affects of the spill.

State-run Oil and Natural Gas Corporation (ONGC) chairman R.S. Sharma Thursday said the BP oil spill off the Gulf of Mexico has become a "game changer" for the hydrocarbon industry and will sharply increase insurance costs.

US President Barack Obama Monday said that several months would be required to bring the environmentally disastrous oil spill in the Gulf of Mexico under control.

The British government is concerned that criticism towards energy company BP for its failure to curb the oil spill in the Gulf of Mexico may hamper the country's relationship with the US.

The US government is preparing for a months-long disaster in the Gulf of Mexico after the latest attempt by oil giant BP to plug a gushing well were declared a failure.

British oil company BP was trying to raise an extra $50 billion to cover the cost of the devastating oil leak in the Gulf of Mexico, the weekly Sunday Times reported Sunday.

US stocks fell Tuesday after oil giant BP declared that its most promising effort yet to cap an oil leak in the Gulf of Mexico had failed.