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BP wins new US oil contracts four years after Deepwater Horizon disaster


British oil giant BP won 24 bids to begin offshore exploration in the Gulf of Mexico this week, just days after federal authorities lifted a ban imposed against the company for its involvement in the 2010 Deepwater Horizon oil spill off the coast of Louisiana. As Reuters reports, BP submitted 31 bids ahead of Wednesdays auction in New Orleans, held by the US Interior Department. Its 24 winning bids are valued at $41.6 billion, though competitors Shell, Chevron, and Freeport McMoRan submitted winning bids that are worth more. BP had been barred from bidding on new federal contracts for over a year following the Deepwater Horizon spill, but the ban was lifted last week after the company struck an agreement with the Environmental Protection Agency (EPA).

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