BP estimates Deepwater Horizon liabilities

Oilpro News Desk ^ | July 15, 20162 days ago | Staff

[Rabin]

BP expects to take an after-tax non-operating charge of around $2.5 billion in its 2Q 2016 results, a total charge to the disaster of $61.6 billion.

[Rabin]

A drill rig is built per product & production design, massive, majestic, cutting edge physics and mechanical design. Fire and gas considerations are secondary, fast automatic I/O shut-in, is non existent. DP and explosion protective are WW2 vintage. 61 billion + 3.7 times that in PR gift to anti-energy "special interests".

When obvious problems don't get fixed an outcome is assured and the motivation is...

Raben

[Gene Eric]

So how many years can BP roll that loss?

[Notforprophet]

They are divesting a lot of technology, selling off assets to cover the loss.

[GreenLanternCorps]

If they had just followed basic safety procedures and not tried to cut a corner or two, they could have avoided all of this.

Penny wise and pound foolish.

Not to mention 11 men would still be alive...

[Eric in the Ozarks]

Over and over, BP chose to go cheap on safety measures at the refineries and off shore. Nearly two dozen dead Americans was the result.

They haven’t been penalized enough.