U.S. lifts ban blocking BP from new government contracts

WASHINGTON, March 13 Thu Mar 13, 2014 4:42pm EDT

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WASHINGTON, March 13 (Reuters) - BP said on Thursday it has reached an agreement with the U.S. Environmental Protection Agency lifting the ban that prohibited the company from bidding on new federal contracts.

As part of the agreement, BP agreed to a set of safety, ethical and corporate governance requirements.

The company was barred from entering into new contracts with the federal government, including offshore drilling leases, in response to the company's role in the massive 2010 BP oil spill.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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