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News Summary: BP suspended from new US contracts

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The Associated Press | November 28, 2012 01:36 PM EST | AP


BP BASHED: The Obama administration put a temporary stop to new federal contracts with BP, citing the company's "lack of business integrity" and criminal proceedings stemming from the Deepwater Horizon disaster in 2010.

LEASE LIMBO: BP will be disqualified from winning new leases to drill for oil or gas on taxpayer-owned land until the suspension is lifted.

S.O.P.: The EPA said the suspension was standard practice when a criminal case raises responsibility questions about a company.