British oil giant BP could face a record fine for the Deepwater Horizon oil spill in the Gulf of Mexico in 2010.

The British Oil company BP is selling off its stake in a joint venture to the state-run Russian oil company Rosneft.

The state-controlled Russian oil firm Rosneft is reported ready to enter a multi-billion dollar joint venture with the British oil giant BP to create the world’s biggest listed oil company.

The British oil company BP is reporting a sharp drop in profits. The company made just $238 million last quarter, compared with more than $5 billion a year ago.

A former BP engineer has been arrested and charged with intentionally destroying evidence related to how much oil was spilling from the company's broken well in the Gulf of Mexico in 2010.

A new book explores how BP's management led to Deepwater Horizon disaster in the Gulf of Mexico, and whether it could happen again.

The big oil company BP has settled with thousands of Gulf Coast residents and businesses for their economic losses and medical claims from its massive 2010 oil spill — to the tune of $7.8 billion.

The Gulf oil spill trial is set to start Monday, and could cost the oil giant billions.

British oil giant BP has filed court papers demanding the Houston-based firm Halliburton pay billions of dollars in clean-up and compensation costs for the 2010 oil spill in the Gulf of Mexico.

In the lawsuit, BP holds Halliburton responsible for the failure of a cement lid placed over the blown out deepwater oil well, and thus the entire cleanup for the incident.