March 14, 2014 11:00 AM

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US lifts contract ban on BP

The United States has lifted a ban that prevented the oil giant BP from winning new government contracts.The ban was imposed as a penalty for the 2010 Gulf of Mexico oil spill, the worst in US history.The ban has been lifted after the firm agreed to a set of safety, operations and compliance requirements.As part of the agreement, BP will also drop its lawsuit against the US Environmental Protection Agency.

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