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Share Price Information for BP (BP.)

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Share Price: 509.40
Bid: 510.30
Ask: 510.40
Change: -11.00 (-2.11%)
Spread: 0.10 (0.02%)
Open: 520.00
High: 521.80
Low: 508.50
Prev. Close: 520.40
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Hurricane Would Be 'Major Challenge' To Gulf Of Mexico Efforts -NOAA

Mon, 28th Jun 2010 04:29

By Cassandra Sweet Of DOW JONES NEWSWIRES As BP PLC (BP) works to plug an oil leak in the Gulf of Mexico and scientists work to figure out how the oil is affecting underwater sea life, the active hurricane season forecast for this summer is a major concern. "A hurricane would present a major challenge to the Gulf" disaster recovery and management efforts, said Jane Lubchenco, head of the National Oceanic and Atmospheric Administration. "The earlier it is, the more challenging it would be." While tropical storm Alex moved toward the Gulf Sunday on a path likely to avoid the oil spill, it served as a reminder that the National Hurricane Center, run by the NOAA, has predicted a more active Atlantic hurricane season than normal, with a potential for up to 14 hurricanes, up to seven of which could be major. While BP works to collect several thousand barrels of oil a day, the company is at least a few weeks away from completing relief wells that it hopes will permanently stanch the flow of oil from the broken Macondo well nearly a mile below the surface. If Mother Nature can hold off on any hurricanes until after BP plugs the hole, it would do the Gulf a world of good, as a hurricane headed for the Gulf could disrupt current containment efforts and preparation of the relief wells. Scientists have estimated that as much as 60,000 barrels of oil are spewing from the broken well into the ocean each day. BP said Sunday it collected 22,750 barrels of oil on Saturday. Government scientists and scientists from research institutions studying the area around the spill have found that underwater oxygen levels--a key concern for marine life--are at safe levels, Lubchenco said in an interview late Friday. In a federal report released Wednesday, scientists concluded that droplets of oil are sitting deep underwater in the Gulf, but that the oil didn't appear to have cut the amount of underwater oxygen to levels that would hurt marine life. 'There's No Underwater Lake Of Black Stuff' Scientists are continuing to test water samples from various depths and areas in the Gulf to determine where the underwater oil is, and where it's going, Lubchenco said. Because the oil is leaking from so deep beneath the surface, much of it is staying underwater, she said. Methane gas beneath the seafloor is pushing the oil at high pressure out of the broken well, causing the spewing oil to scatter into droplets, rather than stay together in a stream, she said. As the oil mixes with water it breaks up into even smaller pieces. Small oil droplets tend to remain underwater and are difficult to find, Lubchenco said. The droplets also are a result of chemical dispersants that BP has been spraying on the oil to break it up and prevent it from washing ashore. While the dispersants themselves are toxic, they're less toxic than the oil, she said. "It's the lesser of two evils," said Lubchenco, a Ph.D. marine ecologist who taught at Harvard University and Oregon State University before being selected to head NOAA. The droplets are so small, they're not visible to the naked eye, Lubchenco said. Scientists have to collect samples from deep underwater and bring them to the surface to be analyzed. Lubchenco said the underwater oil plume is more of a "cloud" or a "mist." "There's no underwater lake of black stuff," she said. Lubchenco said scientists will have a better idea where the underwater oil is migrating and how it's affecting marine life "in another couple of weeks." -By Cassandra Sweet, Dow Jones Newswires; 415-269-4446; cassandra.sweet@dowjones.com (END) Dow Jones Newswires June 27, 2010 23:29 ET (03:29 GMT)
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BP appoints Kate Thomson as its permanent finance chief

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LONDON MARKET OPEN: Shells begins USD3.5 billion buyback; eyes on BoE

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UK earnings, trading statements calendar - next 7 days

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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