Obama Admin Demands Updated Timeline From BP On Oil Capping Efforts

By Jared A. Favole Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--The Obama administration is demanding BP Plc (BP, BP.LN) provide the federal government an updated timeline of plans to cap the mile-deep well in the Gulf of Mexico that is spewing oil off the Louisiana coast. The letter, sent to BP Chief Managing Director Bob Dudley, comes as BP is considering replacing a damaged cap on the well with a newly designed one. The risk of replacing the cap is that it may not work and could increase the amount of oil gushing out for a few days. The government also wants an updated timeline on when relief wells, considered the ultimate solution to the catastrophe, will be completed. -By Jared A. Favole, Dow Jones Newswires; 202.862.9256; jared.favole@dowjones.com (END) Dow Jones Newswires July 08, 2010 13:29 ET (17:29 GMT)