Thursday, May 27, 2010

BP (NYSE:BP) Stops "Top Kill"

BP (NYSE:BP) has temporarily halted their attempt to "Top Kill" or plug the oil leak in the Gulf of Mexico, saying there was far too much drilling fluid escaping while being injected into the well.

The assumption is they are revamping their techniques and will continue on once they're satisfied.

A technician stated it wasn't a major challenge, and "We're still quite optimistic. It is not assured and its not a done deal yet. All of this will require some time."

Plans are to continue pumping the fluid around midnight local time.

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