In the years preceding last year’s Deepwater Horizon explosion in the Gulf of Mexico, the oil industry and federal regulators put the first exploration and production, according to an independent report. The petroleum industry and federal regulators more focused on exploration and production over safety in the years preceding the 2010 Gulf of Mexico oil spill, which set the stage for the worst offshore environmental disaster in U.S. history, according to a new independent report the National Academy of Engineering and the National Research Council. Read more
Two competing oil spill response systems developed for the Gulf of Mexico in the aftermath of the massive BP oil spill could eventually join forces, a BP executive said on Monday.
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BP has asked U.S. regulators for permission to resume drilling in the Gulf of Mexico, two company officials said on Sunday, creating a delicate situation for the Obama seeking the safety concerns to balance with a desire to increase domestic oil production.
The petition comes less than 12 months after it had leased a BP oil rig exploded, causing a huge oil slick and killing 11 workers. The accident marred BP’s image and raised questions about its safety procedures. Last week, the Justice Department confirmed that a range of civil and criminal penalties against BP consider, including possible murder charges for the death of the rig workers, as part of its ongoing investigation into the accident. Read more
BP is the commissioning of a feature film about the Deepwater Horizon oil disaster – but the company says it is not intended to scrub her clean reputation.
Generally reviled for his role in the ecological disaster in the Gulf of Mexico this year, the company quietly responded with short Web videos that the myriad ways to react to the leak appeared. The videos were produced by World Television, the same corporate video company based in London, which operates on the job longer.
“They have a film of the spill to make in the first place for an internal audience as an archive of a momentous event in the history of the company (not affected as by the tragedy and its aftermath),” Robert Wine, a BP spokesman, said in an e-mail. Read more
BP seized on a report better than expected quarterly results Tuesday as further evidence that its activity is rebounding and that the company quickly put the worst of the Gulf oil slick behind.
Although third quarter results were substantially less than one year ago, BP returned to profit after the deadly explosion rig Deepwater Horizon in April the second quarter results sent in red.
The third quarter net profit fell to $ 1,790,000,000 from $ 5,340,000,000 in the period from July to September one year ago. The London-based oil major profits achieved, despite a huge load – 7.7 billion U.S. dollars – for spill-related costs. The charge was higher than analysts expected and a great reminder of the continuing toll of the disaster on the farm. Read more
NEW YORK – U.S. crude oil futures ended higher for the third consecutive session on Tuesday in thin,
pre-holiday trade, driven by rising expectations for economic growth and increased demand for gasoline and heating oil.
Front-month gasoline January RBF1 touched a session high $ 2.4013 per gallon, the highest intraday price since May 4th in front-month RBOB hit $ 2.4315 a gallon, still supported by higher expectations of a holiday driving demand.
Also, the supply of the New York Harbor was hit by the continued closure of a gasoline-making unit at the Hovensa LLC refinery in St. Croix, U.S. Virgin Islands, and the ditch arbitrage window for fuel shipments from Europe. (more…)
Charleston, W.Va. A new report to Congress says the Environmental Protection Agency’s decision to give license for Appalachian surface mines for extra scrutiny to threaten nearly 18,000 jobs in the region. The National Mining Association says the report by the Republican minority staff of the Senate Environment and Public Works Committee shows scores of companies are also threatened. Republican Senator James Inhofe of Oklahoma released the report Friday. (more…)
Ships passing in the sights and sounds of broken oil BP and stood fast Friday as the remnants of Tropical Storm Bonnie blew directly to the spill site, threatens a full evacuation, which would leave engineers clueless about whether a temporary cap on the painter was holding power. Vessels connected to deep-sea robots equipped with cameras and seismic equipment would be among the last to flee and would ride out the rough weather, if possible, a retired Coast Guard Adm. Thad Allen said. (more…)
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