Legal Business

With an external legal spend in excess of $1bn since 2010, BP launches panel review

Energy giant BP, which has paid around $1bn in external legal fees in relation to the Gulf of Mexico oil spill in 2010, has announced a review of its UK law firm adviser line-up.

Firms have been asked to tender for a place on the FTSE 100 company’s new roster, pending the expiry in May of a three-year panel put in place in 2011. The review will be completed towards the middle of 2014.