Analysis of the Bp Oil Spill

BP is a global oil and gas company. The initials stand for British Petroleum. Its headquarters is located in London, England. BP is the third largest energy producing company in the world based on revenue. It operates in over 80 countries, producing approximately 3.8 million barrels of oil each day. BP’s largest division is BP America, the biggest producer of oil and gas in the United States. It is active in every aspect of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. BP has also made major investments in renewable energies such as biofuels, hydrogen, solar power, and wind power. BP has oil reserves of approximately 18.3 billion barrels.

BP’s largest and most recent offense is the Deepwater Horizon Oil Spill that happened in the Gulf of Mexico. The spill is also known as the BP oil spill, the Gulf of Mexico oil spill, the BP oil disaster, and the Macondo blowout. On April 20, 2010, the offshore drilling rig Deepwater Horizon exploded after a blowout. At approximately 9:45 p.m. methane gas from the well shot all the way up and out of the drill column. The gas expanded onto the platform and then ignited and exploded. The platform was engulfed by fire. Most of the workers escaped on the lifeboat and were evacuated by boat or helicopter for medical treatment. The rig burned for roughly 36 hours and sank two days later. The explosion killed 11 people and caused the largest accidental oil spill in history. The drilling rig was owned and operated by Transocean Ltd on behalf of BP. At the time of the explosion there were 126 people on board the rig, including seven BP employees and 79 Transocean employees. The explosion caused a sea-floor oil gusher. The rate of oil spillage ranged from 35,000 to 60,000 barrels of oil per day, the exact rate is uncertain. 53,000 barrels per day were spilled just before the well was capped. The beginning flow rate was 62,000 barrels per day. As the reservoir of oil began depleting, the rate slowed down. The spill lasted for three months. Approximately 4,900,000 barrels of oil were spilled in total. On Wednesday July 14 BP began testing a tight-fitting cap to plug the well and stop the flow of oil into the Gulf of Mexico. BP started by shutting off pipes that were funneling oil to ships on the surface, allowing the full force of the gusher to go to the cap. Deep-sea robots then began closing three openings in the cap that let oil get through. On July 15, 2010 the leak was successfully stopped. On September 19, 2010 the federal government declared the well “effectively dead”. The oil spill damaged thousands of square miles of the Gulf Coast area, threatening the coasts of Louisiana, Mississippi, Alabama, Texas, and Florida. The spread of oil was increased by strong southerly winds. By April 25, 2010 the oil spill covered 580 square miles. By April 30, 2010 it covered an estimated 3,850 square miles. The