Qualified advisers answering your
Financial Questions
call 0800 092 1245

BP encouraged by new attempt to stem oil flow

BP has issued a cautiously optimistic statement regarding the ongoing Gulf of Mexico oil crisis which has seen hundreds of thousands of barrels of oil pumped into the ocean over last few weeks. It is believed that a 4.25 m steel cap was placed upon the damaged pipeline and is currently redirecting around 1,000 barrels of oil a day, as well as gas, to the surface where it is being collected by storage vehicles (although there are many more barrels of oil still escaping into the sea).

There are growing calls for a change in the management structure of BP although so far the company has preferred to focus upon the disaster rather than any potential management changes. However, many people believe that a political and diplomatic hurricane is on the way with Pres. Obama and his fellow American politicians attempting to shift any potential blame from the US authorities to the UK - primarily because BP is a UK based company. The truth of the matter is that the US authorities control oil exploration and oil refineries in the region and ultimately the "buck" stops there.

Many believe that the future of BP is becoming ever more uncertain the longer the disaster continues and the final bill for the company will be absolutely enormous.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details