BP approves $9 billion Mad Dog project in Gulf, a first since spill

By Jessica Resnick-Ault LONDON (Reuters) - Oil major BP has approved a $9-billion (7.14 billion pound) investment in its Mad Dog project in the Gulf of Mexico, its first major new platform in the region since a 2010 explosion at its Macondo well led to the worst offshore disaster in U.S. history. The platform is the first BP-operated project that the company has sanctioned in the Gulf of Mexico since the April 2010 spill at its Macondo well, the worst offshore oil disaster in U.S. history.