Wednesday, May 5, 2010

BP (NYSE:BP) Stops First Oil Leak

The first of three oil leaks has been plugged by BP (NYSE:BP) (LON:BP), as ongoing efforts to stop the oil spill continues after the explosion on the Deepwater Horizon oil rig last month.

This is the first of hopefully more successful efforts to contain the oil spill, which is leaking about 5,000 barrels of oil a day into the ocean.

In what is the best hope for quick containment, BP will attempt to have a containment dome on the oil well in place by May 10, which would deal with the largest leak, which would bring the oil to a ship on the surface.

BP leased the oil rig from Transocean Ltd (NYSE:RIG).

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