Daily Oil Market News
Daily Oil Prices & Futures News on the Blackstuff
Sunday 24th of May 2015

Obama said to be “deeply frustrated” by oil spill

Obama said to be “deeply frustrated” by oil spill

As oil giant BP battles to contain the massive oil spill in the Gulf of Mexico, US President, Barack Obama, was said to be “deeply frustrated” that the oil leak had not been stopped.

In an investigation into find out what went wrong and who is responsible, BP told a Senate panel yesterday that a crucial safety device made by drilling firm Transocean failed.

However, Transocean argued that BP had been in charge and that a third company, Halliburton (a BP contractor), did not plug the exploratory well properly.

However, Halliburton executive Tim Probert argued that his company had adhered to all requirements set out by BP and industry practices.

BP has been battling to contain the oil spillage after the Deepwater Horizon platform sank two days after a massive explosion on 20 April, which left 11 workers dead.

Thousands of barrels of oil have been leaking into the Gulf of Mexico every day since the oil rig sank.

However, while BP has acknowledged it was “absolutely responsible” for the clean up operation, it has said it is not responsible for the accident and blamed the failed equipment, which belongs to Transocean.

Both companies are expecting lawsuits over the oil spillage and shares in both companies have fallen sharply.

Meanwhile, Mr Obama has sent Energy Secretary, Steven Chu, to the area to see if he can move things along.


Related news to Obama said to be “deeply frustrated” by oil spill

Previous: «
Next: »

Visited 2087 times, 2 so far today