BP has said that it is not the only oil Company responsible for oil spill in the Gulf of Mexico. The Company is firm on the view that the claims of its negligence in the oil spill are baseless.

BP engineers were given the task to plug in the damaged wells of the Gulf of Mexico. On Sunday, the U. S. Government's top oil spill official stated that the leakage has been detected on the ocean floor by the engineers of BP. It showed that the capping of the wells, from where the oil came out, was not done properly.

One of the worst oil spills in decades was caused last April by an explosion in the Deepwater Horizon rig in the Mexican Gulf. This disaster took the lives of 11 innocent souls.

Houston's Apache Corp., an exploration and production Company has its eye on BP's assets worth $10-billion, including stakes in Alaskan oil fields. It is BP's latest attempt to cease oil spill in the Gulf of Mexico. The asset disposal focus on a range of properties that do not contribute to its profits.

It is expected that the U. S. Government has allowed the oil giant, Exxon to launch a £100 billion acquisition bid for BP. The British Company has been in discussions to sell its assets to Houston-based, Apache.

Many thousands gallons of oil are let loose to spill into the contaminated waters of the Gulf of Mexico whilst the BP engineers craft to bed in a new repression structure they expect shall trap it all in the pending days.

With miners and banks trading lower and offsetting gains for oil giant BP, British shares on Monday were fraught for direction. While U. S. markets were closed for a holiday, other European shares also traded in a taut range.

The world's biggest oil skimming pot is expected to be formed, as the officials have commenced the testing on Friday. This vessel will be constructed in a way that it can swallow in large volumes of crude which has been discharged in the Gulf of Mexico from BP's well.

Troubled oil company, British Petroleum (BP) has got another shocker. The Obama administration has imposed a fine of $5.2 million on the company for misreporting about the amount energy production that takes place on an Indian reserved area in Colorado. As per the Interior Department, BP had given false reports about the royalty rates that it charges for natural gas in the Southern Ute.

The first hurricane storm in the Atlantic named Alex has hit the clean up efforts of BP for the oil spill in the Gulf of Mexico.

The hurricane Alex has upgraded from a tropical storm status in late last night and is now expected to hit the coasts of Mexico and Texas later on today. This storm is expected to stop the clean up efforts for next several days to come.