gulf oil spill update

BP Oil Spill Panel Calls for Reforms, Stronger Oversight

Oil industry practices and government rules must be subjected to substantial reform to prevent future accidents similar to BP's Deepwater Horizon oil rig disaster in the Gulf of Mexico last April, said a report released Tuesday by the presidential panel probing the incident.

BP Station Owners: Surviving a Debacle and Rebounding

During the height of the bad publicity from the BP oil spill, there was much speculation about whether independent gas station owners would ditch the beleaguered oil company's brand. By and large, though, that didn't happen, and in the months since the disaster, business at many BP stations has rebounded.

BP Weighs Sale of North Sea Assets to Cover Gulf Costs

BP is apparently considering the $1 billion sale of some of its assets in the North Sea as it tries to cover cleanup costs from the Gulf of Mexico oil spill. The company's Macondo well in the Gulf of Mexico exploded in April, leading to the most massive oil spill in U.S. history.

White House Kept a Lid on Oil Spill's Worst-Case Scenario

The White House blocked government scientists' efforts to disclose the worst-case environmental scenario related to the April 20 explosion of BP's Deepwater Horizon rig, the Associated Press reported Wednesday, citing a panel appointed by President Barack Obama to examine the spill.

Legal Briefing: Sex Discrimination Suits Hit Goldman, Tyson

Investment banks and chicken slaughterhouses don't have much in common, but evidently they both aren't the easiest places for women to make a living, based on the gender discrimination lawsuits filed against Goldman Sachs and Tyson Foods this week.

BP Says "Multiple Companies" Responsible for Gulf Oil Disaster

A report by BP (BP) says that "multiple companies and work teams" are responsible for the Gulf oil disaster that killed 11 workers and spewed out millions of gallons of oil into the ocean. "It is evident that a series of complex events, rather than a single mistake or failure, led to the tragedy," outgoing CEO Tony Hayward said in a statement. "Multiple parties, including BP, Halliburton and Transocean, were involved."

BP Spill Created Giant Underwater Oil Plume

Scientists say they found a massive 22-mile long oily plume underwater created by the BP oil spill. The 1.2-mile-wide, 650-foot-high oily soup provides some clues to where the crude has gone as surface slicks shrink and disappear.

BP May Decide Today to Move Ahead With Bottom Kill

BP (BP) and U.S. authorities may make the decision today to move ahead with the so-called bottom kill operation to finally seal the ruptured Macondo oil well in the Gulf of Mexico. The bottom kill would be a four-day process of pumping cement into the well from below, closing it off from the reservoir of oil that feeds it. The well has already been sealed from the top.

Tropical Depression Delays BP Relief Well in Gulf of Mexico

Bad weather delayed work on the final feet of the relief well that is intended to permanently fix BP%u2019s (BP) ruptured oil well in the Gulf of Mexico. A tropical depression is heading for the site from a position off the coast of Florida, and it is expected to strengthen and become a tropical storm today, The Associated Press reported.

BP Delays Crucial Test of New Cap on Gulf Oil Well

BP (BP) delayed a crucial test that will determine if it can close a new cap on the leaking oil well in the Gulf of Mexico. The London-based oil giant delayed tests that were meant to assess whether the well can handle the pressure of closing the cap at the wellhead, Reuters reported. The test was scheduled for Tuesday.