November 28, 2012 - 20:49 AMT
PanARMENIAN.Net - BP has been temporarily suspended from new U.S. government contracts over the 2010 Gulf of Mexico oil spill, in a fresh blow that could have wide implications for its U.S. operations, Financial Times reported.
The U.S. Environmental Protection Agency announced on Wednesday, November 28 it had suspended the energy group ?due to BP?s lack of business integrity? as demonstrated by its conduct with regard to the Deepwater Horizon disaster.
The EPA said the suspension would temporarily prevent BP from getting ?new federal government contracts, grants or other covered transactions? until it could provide sufficient evidence that it met federal business standards. But it said the move did not affect existing agreements BP has with the government.
Under government regulations, suspensions generally may not exceed 18 months. But if there are ongoing legal proceedings at the time a suspension is issued, it can continue until those proceedings have ended. BP is facing trial on February 25 in New Orleans on civil claims arising from the disaster.
A person familiar with the matter said that to remove the bar, BP would have to show it has ?properly addressed the conditions which gave rise to the suspension?.
Source: http://www.panarmenian.net/eng/news/134762/
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