Bp Oill Spill

Only available on StudyMode
  • Download(s) : 11
  • Published : April 15, 2013
Open Document
Text Preview
BP Oil Spill
Background
The British Petroleum Oil Spill incident is the largest in history that raises various issue environmental and ethical issues. On 20th of April 2010, an explosion of the drilling rig caused the oil spill close to the coast of Louisiana in the Gulf of Mexico, in which 11 employees were killed. It took around five months for the oil well to exert no further risk and be concealed, where many controversies arose throughout the period. BBC, 2010. Timeline: BP Oil Spill. BBC. Viewed 27/08/12. http://www.bbc.co.uk/news/world-us-canada-10656239 During the incident

The US Government initially set fire to the oil spill after nine days of the incident. Shortly after, the government announced the banning of new oil drilling operations along and held British Petroleum (BP) responsible for the incident financially. In mid-May (a month after the incident), BP took initiative to plug the well, which turned out to be a failure. In mid-June, BP has declared that no dividend will be paid to shareholders in the event that the company pays out $US 20 billion dollar for victim of the oil spill. During mid-July, the oil spill spread to all of the US Gulf States. In late July, the CEO of BP, Tony Haynard, declared that he would be stepping down from his position in October 2010 with compensation of around $US 1 million. In August, scientists informed that the oil spill seem to dissolve more rapid than expected. BBC, 2010.Timeline: BP Oil Spill. BBC. Viewed 27/08/12. http://www.bbc.co.uk/news/world-us-canada-10656239 Post Incident (after September 2010)

The Government had taken matter into the issue, where an investigation was placed on the cause of the incident. The reports showed that BP was the party mainly responsible for the incident, in which the company attempted to speed up their operations without any consideration for the level of risk as the company fell behind schedule. New York Times, 2012. Gulf of Mexico Oil Spill. New York Times. Viewed...
tracking img