Several U.S. agencies are preparing a criminal probe of at least three companies involved in the massive oil spill in the Gulf of Mexico, though it could take more than a year before any charges are filed, the Washington Post reported Wednesday.

BP Plc, Transocean Ltd. and Halliburton Co. are the initial targets of the wide-ranging probe, which aims “to examine whether their cozy relations with federal regulators contributed to the oil disaster in the Gulf of Mexico,” the newspaper said, citing law enforcement and other sources. Get the full story »