FACTBOX-Developments in the Gulf of Mexico oil spill

June 8 (Reuters) - Here are developments in the Gulf of Mexico oil spill, the largest in U.S. history:

SPILL CONTAINMENT EFFORTS

* BP (BP.L) (BP.N) said it collected 14,800 barrels of oil on Monday, 33 percent more than Sunday. [ID:nN08248189]

OIL SLICK THREAT

U.S. experts investigating reports of undersea oil plumes emanating from BP's stricken well have confirmed the presence of low levels of oil below the surface. Jane Lubchenco, head of the National Oceanic and Atmospheric Administration, told a briefing in Washington. [ID:nN08256378]

POLITICS

* BP Chief Executive Tony Hayward will testify before House Energy and Commerce subcommittee on June 17, a company spokesman said. [ID:nN08272907]

* The six-month U.S. moratorium on deep water oil drilling should cut 2011 crude output by about 25 million barrels, the top U.S. energy forecaster said on Tuesday. [ID:nN08261937]

* The Obama Administration signaled on Tuesday that the oil industry faces stringent oversight after the Gulf oil disaster, even as the administration moved to partially reopen offshore drilling. [ID:nN08254997]

* The Senate Judiciary Committee was holding a hearing titled, "The Risky Business of Big Oil: Have Recent Court Decisions and Liability Caps Encouraged Irresponsible Corporate Behavior?"

COMPANY NEWS

* BP shares closed down 5 percent in London on Tuesday. In New York, BP's American depositary shares closed down nearly 6 percent.

* The shares of offshore oil and gas driller Transocean Ltd RIGN.S(RIG.N) tumbled in New York trading to their lowest in 18 months. [ID:nnN08262741]

GLOBAL REACTION

* Oil and gas producers Norway and Britain on Tuesday moved to reduce the risks of their offshore drilling following BP's well blowout and oil spill in the Gulf of Mexico. [ID:nLDE6571SP]

QUOTE OF THE DAY

"And I don't sit around just talking to experts because this is a college seminar; we talk to these folks because they potentially have the best answers, so I know whose ass to kick," President Obama said in an interview with NBC News' "Today."