BP Creates New Safety Division

BP plans to create a new safety division in the aftermath of this summer’s oil spill disaster in the Gulf of Mexico, CNN reported this week. The “powerful new unit” will have the authority to intervene in all aspects of BP’s technical activities, according to the company. The safety division is one of the new

BP Spreads The Blame

BP has rolled out the results of a four-month internal investigation into the causes of the April 20 blowout of its Macondo oil well in the Gulf of Mexico, which resulted in the Gulf oil spill. The company spread blame among its contractors, as it pointed to a “complex and interlinked series” of failures from

Robert Dudley Promoted To CEO of BP

BP officially announced today that Tony Hayward is stepping down as CEO and being replaced by Robert Dudley effective Oct. 1, the Associated Press reported. As an American, Dudley marks BP PLC’s first ever non-British chief executive, the company said as it reported a record quarterly $17 billion loss and set aside $32.2 billion to

BP’s Hayward To Be Replaced

BP’s Tony Hayward, whose blunders in relation handling the oil spill in the press have created an outcry, is on his way out as CEO, a U.S. government official told the Associated Press. The senior U.S. official who spoke on condition of anonymity because an announcement had not been made, told the Associated Press he

BP Selling Upstream U.S. Assets To Apache

BP is selling its upstream assets in the U.S., Canada and Egypt to Apache Corp., outlined in a number of agreements this week.  The deals together total $7 billion, and comprise BP’s Permian Basin assets in Texas and south-east New Mexico in the U.S.; its Western Canadian upstream gas assets; and the Western Desert business

BP Claim Payments Climb Past $100M

BP has paid $104 million to residents along the Gulf Coast for claims filed as a result of the oil spill in the Gulf of Mexico, the company reported in a press release. “Our focus has been on getting money into the hands of fishermen, shrimpers, condo owners and others who have not been able

BP Donates $25 Million to GRI

BP has announced significant progress in its half-billion dollar pledge to the Gulf of Mexico Research Initiative (GRI). Three research institutions in the Gulf region will receive a total of $25 million in fast-track funding for high-priority studies of the distribution, composition and ecological interactions of oil and dispersant. On May 24, BP announced a

BP To Fund Wildlife Rehabilitation

BP announced it plans to donate the net revenue from oil recovered from the MC252 oil spill to create a new wildlife fund that would create, restore, improve and protect wildlife habitat along the coastline of Louisiana, Mississippi, Alabama and Florida.  The creation of this fund exceeds the company’s  obligations under the Oil Pollution Act

Oil Spill Investigation Continues

BP’s internal investigation team has started sharing initial perspectives of its review of the causes of the tragic Deepwater Horizon fire and oil spill. The investigation is a fact-finding effort that is still underway, and has already identified various issues for further inquiry. BP has shared these early perspectives with the Department of the Interior

BP Investigates Spill Impact

BP today announced a commitment of up to $500 million to an open research program studying the impact of the Deepwater Horizon incident, and its associated response, on the marine and shoreline environment of the Gulf of Mexico. “BP has made a commitment to doing everything we can to lessen the impact of this tragic

BP Pledges Transparency Regarding Spill

BP has reiterated its promise to be open and transparent in its response to the oil spill in the Gulf of Mexico, the company announced in a press release. BP confirmed its continuing commitment to co-operate with the Department of Homeland Security (DHS) and the Environmental Protection Agency (EPA) in facilitating access by the US

BP Refutes Atlantis Accusations

BP has responded to allegations that its Atlantis platform in the Gulf of Mexico operated with incomplete and inaccurate engineering documents. In light of claims recently made in the media that flawed or missing documentation posed a threat to safe operation of the platform, BP said it had thoroughly investigated these allegations when they were

BP Responds To Gulf Oil Spill

BP is ramping up its response to the oil spill in the US Gulf of Mexico. More than 2,500 personnel are now involved in the response effort and well-advanced preparations are being made for a major protection and cleaning effort on the shorelines of Louisiana, Mississippi, Alabama and Florida. A fourth onshore command centre, in

BP Looks To Future Goals

BP has outlined plans to further boost efficiency and reduce costs as it plans to improve its annual underlying pre-tax profitability by more than $3 billion over the next two to three years, the company announced in a press release. In addition, the company has extended its medium-term oil and gas production outlook, projecting that

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