Monday, June 21, 2010

BP: Oil Leak Could Be As High As 100,000 Barrels per Day

The amazing BP stories (some say lies) continue to be exposed left right and center. According to Reuters, an internal BP document estimated that a "worst-case scenario rate for the Gulf of Mexico oil spill could be about 100,000 barrels per day".

Furthermore, Anadarko Petroleum, one of its partners in the doomed oil well, said that had been negligent in the way operated the installation.

Current U.S. government estimate of up to 60,000 barrels per day. Initially these were publicly stated as 1,000 bpd!

London's Sunday Times reported that BP is planning to raise $50B to cover the cost of the largest oil spill in U.S. history. How low its shares will go remains to be seen. Somehow, the stock still trades around $30.

Reuters adds that "the Financial Times said that BP CEO Tony Hayward was planning to travel to Russia to reassure President Dmitry Medvedev that the oil group is not on the brink of collapse".

Stumble Upon Toolbar

No comments:

Financial TV

Blog Archive

// adding Google analytics