New York — As the Gulf oil spill gushed out of control, BP’s financial liabilities seemed big enough to sink the company. No more.

The oil giant BP said Wednesday in its internal report that a series of failures involving a number of companies ultimately led to the huge oil spill in the Gulf of Mexico.

A new blowout preventer has been placed atop BP’s problem oil well, a move that should allow crews to drill into the well deep underground and kill it for good in about a week.

BP has accepted some of the blame for the deadly rig disaster that led to the worst oil spill in United States history, according to a new report.

BP PLC plans to move ahead with replacing the blowout preventer that sits atop the well that unleashed the Deepwater Horizon oil spill, despite failing in attempts to remove pieces of drill pipe stuck inside the device, the federal oil-spill response chief said Friday.

ON THE GULF OF MEXICO (AP) — BP claimed a key victory Wednesday in its effort to plug its blown-out oil well in the Gulf of Mexico while the government said the vast majority of oil from the worst offshore spill in U.S. history was already gone.

Tuesday might just be the day that the disastrous Gulf oil leak is finally and completely stopped.

From Blackvoices.com: Soon after a BP wellhead exploded in the Gulf of Mexico spewing a jillion gallons in to the waters off the coast of Louisiana, the British company started the business of cleaning up the worst oil spill United States’ history.

From HuffingtonPost.com: In the tradition of “Without Bad Luck, We Wouldn’t Have Any Luck at All,” the National Hurricane Center this morning forecasted a 70% chance that Invest 97, now just south of the Bahamas, would form into a tropical cyclone.  Destination?  The central Gulf.  In his McBriefing yesterday, Kent Wells announced that instead of […]

From BVonMoney.com: BP is getting criticism from civil rights leaders about African Americans being left out of the highly profitable oil clean up process. According to a recent investigation by the NAACP, minority contractors are not being given an opportunity to make money by cleaning up the spill that has destroyed the livelihoods of so […]