BP won 24 new oil tracts Wednesday after a 16-month ban from new federal contracts was lifted from the company.
The oil and gas company reached a deal with the Environmental Protection Agency Friday, allowing it to participate in the latest round of bidding Tuesday. BP submitted a total of 31 bids, with the winning bids totaling $41.6 million. None of the winning bids, however, were for contracts in the Gulf of Mexico.
The EPA banned the company from placing bids on new federal contacts in November 2012, more than two and a half years after the Deepwater Horizon oil spill in April 2010 — considered the worst oil disaster in U.S. history.