Gulf of Mexico environment returning to pre-Macondo conditions, report finds 3/16/2015 Share on facebookShare on twitterShare on linkedinShare on google_plusone_shareShare on print HOUSTON -- In the five years since the Deepwater Horizon oil spill, scientific data and studies are showing that the Gulf environment is returning to its baseline condition, according to a new report BP released Monday.
The Gulf of Mexico Environmental Recovery and Restoration report also indicates that impacts from the spill largely occurred in the spring and summer of 2010.
The report is based on scientific studies that government agencies, academic institutions, BP and others conducted as part of the spill response, the ongoing Natural Resource Damage Assessment (NRDA) process or through independent research. While individual studies are helpful, they tell only part of the story. This report, a wide-ranging compilation of reputable studies by respected researchers, provides a broader overview of the state of the Gulf environment.
“The data and studies summarized in this report are encouraging and provide evidence that the most dire predictions made after the spill did not come to pass,” said Laura Folse, BP’s executive V.P. for response and environmental restoration. “The Gulf is showing strong signs of environmental recovery, primarily due to its natural resilience and the unprecedented response and cleanup efforts.”
The report also looks at the large-scale, BP-funded early restoration projects to speed the recovery of natural resources in the Gulf that were injured as a result of the spill.
The report finds that:
Available data does not indicate the spill caused any significant long-term population-level impact to species in the Gulf. For example, NRDA data do not reveal ongoing adverse impacts to bird populations linked to the spill beyond the initial, limited acute mortality in 2010. National Oceanic and Atmospheric Administration (NOAA) data show that fish populations are robust, and commercial landings generally have been consistent with pre-spill trends and ranges. Findings published by a group of researchers, including scientists working with the NRDA trustees, show the accident did not affect most deepwater coral communities. Several key factors lessened the spill’s impact. The spill took place in deep water, far offshore and in a temperate climate, allowing the oil to break down. The type of light crude oil involved in this spill also degrades and evaporates faster than heavier oils. At the same time, the massive offshore response and shoreline cleanup—for which BP spent more than $14 billion and workers devoted more than 70 million personnel hours—mitigated the damage. And the Gulf, which contains many natural oil seeps and robust populations of oil-eating microbes, is extraordinarily resilient. Affected areas are recovering faster than predicted. For example, in 2010 the U.S. Coast G
Difficult one to call. However, bears do seem to have the upper hand at the moment with Brent down to $53, the threat of Iran's oil exports being ramped up and bp's own challenges with the US Feds, ref oil spill volumes and, of course, the Russian (Rosneft) dimension.
Different companies with different problems and different exposures to adverse conditions. The only common denominators are the oil price and general sector sentiment. I am not worried and the dividend is just around the corner. I have been holding since the post Macondo low (~365p) and any temporary weakness around divi day is welcomed as it only serves to increases my holding. So far the divis alone have increased it by 15% and if you take the increase in the SP into account its gone up even more.
On 3 February 2015, the Directors of BP p.l.c. announced that the interim dividend for the fourth quarter 2014 would be US$0.10 per ordinary share (US$0.60 per ADS). This interim dividend is to be paid on 27 March 2015 to shareholders on the share register on 13 February 2015. The dividend is payable in cash in sterling to holders of ordinary shares and in US dollars to holders of ADSs. A scrip dividend alternative has been made available for this dividend allowing shareholders to elect to receive their dividend in the form of new ordinary shares and ADS holders in the form of new ADSs.
Sterling dividends payable in cash will be converted from US dollars at an average of the market exchange rate over the four dealing days from 10 March 2015 to 13 March 2015 (£1 = US$1.49927). Accordingly, the amount of sterling dividend payable in cash on 27 March 2015 will be:
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.