The Environmental Protection Agency has announced that BP will be banned from entering into new contracts with the federal government as a result of 2010's Deepwater Horizon oil spill. On November 15, the company agreed to plead guilty criminal misconduct in the nation's largest recorded oil spill. The company also agreed to pay $4.5 billion in penalities for the incident.
BP's ban on new government contracts will continue until the company proves that it can follow federal rules and practices. The British energy company's current contracts with the U.S. federal government will not be affected the ban.