Support the news
BP has been banned from seeking new contracts with the federal government. It's the latest blow, with the company set to appear in a New Orleans federal court next month to work out its guilty pleas to criminal charges in connection with the Deepwater Horizon explosion. The oil giant has agreed to pay a record $4.5 billion in a criminal settlement with the U.S. Justice Department. But far more money could be at stake in civil litigation stemming from the oil disaster.