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BP Releases Investigative Report to Shift Blame for Oil Spill
International Energy Network News: British Petroleum (BP) released an internal investigation report into the Gulf of Mexico oil spill on the 8th, which pointed out "a series of errors", such as mechanical failures, human judgment errors, and design issues. While BP identified some of its own faults, it pointed most of the blame at other companies.On the same day, BP listed multiple reasons that caused the explosion of the Deepwater Horizon drilling platform in the Gulf of Mexico and caused a large amount of crude oil to leak. It admitted that BP employees misinterpreted the test results when conducting safety tests.
But as the media had previously expected, the investigation report pointed most of the blame to other companies: BP said that the staff of the drilling contractor "Transocean" did not realize the red flags; it accused Halliburton of the oil well cementing work responsible for Mistakes.
BP CEO Hayward issued a statement that day: "It is clear that a complex series of events, rather than an independent error, led to the disaster."
Since the release of BP's report on the morning of the 8th, BP's London stock price has risen significantly.
Analysts pointed out that by successfully transferring responsibility to two other companies, it will help alleviate investors' concerns about BP independently bearing heavy financial compensation. According to the U.S. Clean Water Act, if the charge of "gross negligence" against BP is established, the company will face a sky-high fine of US$21 billion; if not, the fine will be reduced to US$5 billion.
Following BP's internal investigation, the U.S. Department of Justice, Congress and investigative teams appointed by President Obama will also release their own findings.
The Deepwater Horizon drilling platform exploded on April 20 this year, killing 11 workers. The platform sank two days later, causing a massive oil spill. The leak was not completely sealed until July 15, resulting in the worst oil spill in U.S. history.
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