Thursday, June 3, 2010

BP (NYSE:BP) Pipe Cut Irregular, May Not Trap Most of Oil

BP (NYSE:BP) finally had some good news from their attempt to stem the oil flow in the Gulf of Mexico, as they did successfully cut the pipe they needed to in order to place a cap over it to siphon oil to tankers on the surface.

The problem is the cut in the pipe was found to be irregular, and that could pose problems as to how tight it will fit when the cap is placed on the pipe.

Two challenges emerge from this. One, it will be harder to cap the pipe in the first place, and two, if it is capped, like mentioned above, it isn't certain as to how strong the seal would be and how much oil would continue escaping.

Of course any improvement is welcome, but it casts a shadow over the possible success of the capping if it doesn't capture near the amount of oil as hoped.

Later in the day BP will attempt to lower the cap in the attempt to place it on the pipe.

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