The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 493.00
Bid: 492.95
Ask: 493.10
Change: -10.70 (-2.12%)
Spread: 0.15 (0.03%)
Open: 498.00
High: 499.60
Low: 490.65
Prev. Close: 503.70
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-BP spill report ignored phone call on key test -lawyer

Tue, 05th Mar 2013 01:39

By Stephanie Grace

NEW ORLEANS, March 4 (Reuters) - BP's own investigation ofthe 2010 Gulf of Mexico spill ignored a phone call between BPsupervisors about a critical pressure test that wasmisinterpreted with deadly consequences, a lawyer for rig ownerTransocean Ltd contended in aggressive questioning onMonday.

As a civil trial that will determine blame for the disasterentered its second week, Transocean lawyer Brad Brian pushedBP's global head of safety and operational risk on why thereport did not mention that call even though investigatorsmentioned it in their notes.

The report by BP Plc placed most of the blame for theexplosion and spill on Transocean, whose Deepwater Horizon rig,under contract with BP, had been drilling a mile-deep well whena surge of gas caused a blowout that killed 11 workers.

"I think my team's thinking was ... it was mentioned, itwasn't in the form of consulting about it," replied Mark Bly,the BP executive who headed the company's investigation.

The U.S. Justice Department, Gulf Coast states affected bythe spill, and other plaintiffs - all of whom are suing BP,Transocean and other companies - argue that BP put profits oversafety in the drilling job, which was over-budget and overdue.

Lawyers for the plaintiffs have argued that had well siteleader Don Vidrine heeded concerns of onshore senior drillingengineer Mark Hafle about that pressure test and stopped theoperation, the disaster at the Macondo well could have beenaverted.

London-based BP has acknowledged that engineersmisinterpreted the results of the test, but holds both itselfand Transocean responsible for that.

Brian also questioned whether Bly and his investigative teamlooked into whether BP's decisions were driven by saving timeand money. "We didn't look at that specific question," Bly said.

The trial has now entered its second week before U.S.District Judge Carl Barbier in the first of three phases. Thefirst phase focuses on allocation of blame among the companiesinvolved.

Later on Monday, Andrew Hurst, a geology and petroleumgeology professor at the University of Aberdeen, Scotland,testified on behalf of the plaintiffs that rock layers whereMacondo was drilled are particularly fragile because the area isthe site of the second-largest underwater landslide in the worldand was the site of an undersea earthquake in 2006.

He said the drilling operation could have left the rock sofragile that cement pumped into it could not bind to the rock asrequired.

"My opinion is that formation around the bore holedisintegrated," Hurst testified. "I can't see how anything elsecould have happened."

Under cross examination, BP attorney Matt Regan stressedthat Hurst's observations about thermal conditions and pressurewhere BP drilled would apply to the vast majority of such sites,and that many in the industry do not follow his prescribedprocedures.

He also asked Hurst whether his conclusions were based on"Macondo specific data" or general observations. Hurst respondedthat he based his opinions on science, conceding that he did nottry to "form a prognosis" for the Macondo well.

The case is In re: Oil Spill by the Oil Rig "DeepwaterHorizon" in the Gulf of Mexico, on April 20, 2010, No.10-md-02179, in the U.S. District Court, Eastern District ofLouisiana.

More News
9 Apr 2024 17:13

FTSE 100 ends down as defence stocks offset commodity gains

Easter food spending lifts UK retail sales in March

*

Read more
9 Apr 2024 16:53

LONDON MARKET CLOSE: Stocks struggle in nervy trade before US data

(Alliance News) - European equities closed lower on Tuesday, with sentiment downbeat ahead of Wednesday's US inflation reading, though impetus could be found in gold, which hit another record high.

Read more
9 Apr 2024 15:12

London close: Stocks slip ahead of ECB, US inflation print

(Sharecast News) - London markets closed lower on Tuesday, as investors braced for a key US inflation reading as well as a policy announcement from the European Central Bank later in the week.

Read more
9 Apr 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 treads water despite boost from miners

(Alliance News) - Equities in London lacked impetus heading into Tuesday, as investors moved with caution ahead of a US inflation print on Wednesday and the European Central Bank's interest rate decision a day later.

Read more
9 Apr 2024 10:21

PRESS: Shell could make London exit if value gap to US does not close

(Alliance News) - Shell PLC fired a warning shot to that it could be prepared to move its listing to the US in a fresh blow to London's financial centre.

Read more
9 Apr 2024 08:53

TOP NEWS: BP predicts upstream production will rise in first quarter

(Alliance News) - BP PLC on Tuesday said it expects first quarter upstream production to be higher than the previous three month period but cautioned lower prices would hurt performance elsewhere.

Read more
9 Apr 2024 08:44

LONDON MARKET OPEN: Stocks shaky ahead of US CPI data, ECB decision

(Alliance News) - Stock prices in London opened mostly lower on Tuesday, as investors look ahead to a key inflation reading from the US, as well as the latest interest rate decision from the European Central Bank.

Read more
9 Apr 2024 07:51

BP expects rise in first-quarter upstream energy output

April 9 (Reuters) - BP said on Tuesday it expects first-quarter upstream production of both oil and gas as well as low-carbon energy to be higher than the previous three months.

Read more
9 Apr 2024 07:39

LONDON BRIEFING: HSBC sells Argentinian arm for USD550 million

(Alliance News) - Stocks in London are called to open lower on Tuesday, as investors nervously look ahead to US inflation data and the European Central Bank's latest interest rate decision.

Read more
9 Apr 2024 07:24

BP sees higher Q1 upstream production

(Sharecast News) - Oil giant BP said it expected first-quarter upstream production to be higher than the previous three months.

Read more
5 Apr 2024 12:00

LONDON MARKET MIDDAY: Stocks drop on Israel-Iran tensions and Fed talk

(Alliance News) - Stock prices in London were firmly down at midday on Friday, as rising tensions between Israel and Iran alongside doubts around the timing of US interest rate cuts hurt investor sentiment.

Read more
5 Apr 2024 08:47

LONDON MARKET OPEN: Europe slumps on US rate worry and rising tensions

(Alliance News) - Stocks in Europe had a downbeat start to the day on Friday, with investors unnerved by rising geopolitical tensions and hawkish remarks from US central bankers.

Read more
4 Apr 2024 16:55

LONDON MARKET CLOSE: US initial jobless claims hotter than expected

(Alliance News) - Stock prices in London closed up on Thursday, as investors first digested words from US Federal Reserve Chair Jerome Powell overnight, before reacting to hotter-than-expected US initial jobless claims.

Read more
4 Apr 2024 11:58

LONDON MARKET MIDDAY: Stocks up as Fed chair calms some rate nerves

(Alliance News) - Stock prices in London were in the green on Thursday afternoon, with mining stocks powering the FTSE 100 higher, as investors digested words from Federal Reserve Chair Jerome Powell.

Read more
2 Apr 2024 23:07

Sector movers: Builders and REITS slip, geopolitics boost Big Oil and gold miners

(Sharecast News) - Personal Goods was at the bottom of the pile on the FTSE 350 at the start of the second quarter, as fashion retailer Burberry Group's shares fell back towards their five-year lows.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.