Anyone listening to the news reports this morning would be forgiven for thinking that the Deepwater disaster is somehow “over” now that that the cap seems to be holding. So nearly ninety days in to this disaster we may be reaching the end of the beginning, but no more. In the short-term we do not … Read More
BP
Senators Accuse BP of “Blood Money” Handouts
For many in America, BP has been public enemy number one since the Deepwater disaster started on April 20th. It’s not only the disaster itself, but the way BP has handled itself before and since then that has added to the palatable anger. The failure by the company to stop the spill, the public gaffes … Read More
IEA: Up to 189 Million Gallons Leaked So Far
If you talk to Riki Ott, the fisherwoman and marine biologist who has written a book about the Exxon Valdez, one of the lasting unanswered questions is just how much oil was spill from the stricken tanker. The official version is 10.8 million gallons, but Ott has always maintained the real figure was considerably higher. … Read More
BP: Boldness and Blunders with no Hand on the Brake
Uncertainty still surrounds the success of the replacement cap on the BP well today, with the company expressing cautious optimism that this second, tighter cap has worked. BP will now attempt a “well integrity test” and this means it will find out how damaged the well is below the cap and how intact the casing … Read More
From Seven Sisters to One Super-Major?
Obama’s presidential Commission into the oil spill starts today and already the focus seems to be about how to improve safety offshore for future drilling in light of the BP disaster. That means the focus is how to drill offshore rather than whether to drill offshore. That is a huge difference. The Commission is unique … Read More
“If the relief wells fail, BP may be doomed”
In a date that seems to pander to the needs of the investors and politicians rather than the engineers, BP has set a deadline of 27 July to cap the leaking Macondo well. According to the Wall Street Journal the capping in not just a physical capping but “a bid to a bid to show … Read More
BP: A Good Value for “Bargain Hunters”?
David Cameron’s government is now said to be preparing for the worst: that BP will collapse and be broken up. One way that could be avoided is if key investors buy large chunks of the stricken oil giant. But one option might be just as unpalatable to the British as BP being broken up: the … Read More
Will BP’s Partners Cough up $400 Million?
As the clean-up cost for BP’s spill surpasses $3 billion, BP has demanded that its partners to pay about thirteen per cent of the costs so far or $400m. The demands were sent to Deepwater Horizon partners Anadarko – that owns 25 per cent of the well – and Japan’s Mitsui Oil Exploration that owns … Read More
From One Gulf to Another
Five years ago, I co-authored a book called “The Next Gulf- London, Washington and Oil Conflict in Nigeria”, that – as the title suggested – looked at the interlinked nature of oil politics from America, the UK and West Africa. In part the book details the grievances of the people of the Niger Delta – … Read More
BP’s Future Now Depends on Iraq
It is no coincidence that on “Tony’s Tour to Rebuild BP’s Battered Reputation”, its CEO Tony Hayward will visit China next week. BP may be getting a kicking in America, but China and Russia remain central to its plans. BP’s embattled chief executive has already met Igor Sechin, Russia’s Deputy Prime Minister, in Moscow on … Read More