2015 Event British Petroleum (BP) reaches a settlement with U.S. federal, state and local government entities regarding damages from its Deepwater Horizon rig explosion five years ago; BP will pay USD $18 billion through the year 2030 2011 Event BP announces plans to begin drilling for oil off the coast of Libya 2011 Event A German naval mine from World War II is discovered and dismantled by BP; removing the bomb avoided potential closure of 16 oil fields 2010 Event BP claims that if the ban on offshore drilling permits continues, it may not be able to pay compensation for the Deepwater Horizon oil spill 2010 Event In volume, BP's Deepwater Horizon oil spill has overtaken Ixtoc I to become the worst oceanic oil spill in U.S. recorded history 2010 Event BP CEO Tony Hayward testifies before the U.S. about the Gulf of Mexico oil disaster at the Deepwater Horizon rig that has caused the worst oil spill in U.S. history 2010 Event In response to the Gulf of Mexico oil disaster, BP agrees to finance a $20 billion fund to compensate those whose livelihood has been damaged 2010 Event BP's Deepwater Horizon offshore oil rig exploded in the Gulf of Mexico 1907 Event Royal Oil and Shell merge to form British Petroleum (BP) 354 Birthday [Christian] Aurelius Augustine, bp of Hippo in Roman Africa
