Tuesday, October 26, 2010

BP's (NYSE:BP) Well Design Under Fire Again

A day after BP (NYSE:BP) CEO Bob Dudley came out swinging to support and defend the company, competitors from major oil companies - Chevron (NYSE:CVX) and Total SA (NYSE:TOT) - came out and criticized the well design of BP on the Macondo Well, saying wasn't the best for the type of well it was.

Talking to a parliamentary committee in the UK, Richard Cohagan, managing director of Chevron UK, and Roland Festor, managing director of Total's Exploration and Production unit in the UK, said the the design of the Macondo Well wasn't the type that should have been used in a reservoir like Macondo.

This seems to be an ongoing attempt by most major oil companies to say their practices wouldn't have resulted in the explosion and resultant disaster.

Even so, Chevron and Total executives wouldn't commit to saying the design of the well was the cause of the explosion and oil leaking into the Gulf of Mexico.

BP with their internal investigation concluded there was no relationship between the design of the well and the accident. Investigations are ongoing as to the cause of the disaster.

1 comment:

  1. This is the most retarded post ever - hate this blog spam getting linked to Google Finance... proof-read your posts at least, please.