US to Allow BP to Bid on New Oil Drilling Leases in Gulf

Oct. 13, 2011 05:53PM PST

Rigzone reported that the U.S. lawmakers have decided to allow BP to bid on new oil-drilling leases that go up for sale in the Gulf of Mexico later in 2011.

As quoted in the market news:

While testifying at a House hearing Thursday, offshore safety chief Michael Bromwich said his agency “considered and thought about this issue quite a lot,” but eventually determined to allow the British oil giant to bid for leases in an upcoming auction known as Lease Sale 218.
“We don’t think it’s appropriate [to exclude BP] in these circumstances,” said Bromwich, director of the Interior Department’s Bureau of Safety and Environmental Enforcement.
On Wednesday, the Interior Department issued its first set of citations related to the spill at the Deepwater Horizon rig, accusing BP and two of its contractors of breaking several rules. The citations are likely to carry fines.

Click here to read the full Rigzone report