Monday, June 28, 2010

Additional BP (NYSE:BP) Oil-Capture Capacity Delayed

Tropical Storm Alex, whether it turns toward the BP (NYSE:BP) oil spill or not, has already affected the plans of BP to add capture capacity to the oil spilling into the Gulf.

The company was about to add a third vessel to the oil collection efforts, which had the possibility of capturing the majority of oil escaping into the region.

After the third vessel is hooked up it could capture up to 53,000 barrels a day. Depending on how much is actually escaping into the Gulf, that could cover the vast majority of it.

Up to 60,000 barrels are estimated to be leaking into the Gulf on a daily basis, with worst-case scenario from BP placing it as high as 100,000; although that latter number is doubtful.

Unless the storm changes course, the existing oil-capture systems are expected to be unaffected by the tropical storm.

Waves up to 12 feet high are going to cause the delay of attaching the third vessel to capture oil.

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