Saturday, June 19, 2010

Anadarko (NYSE:APC) Says BP (NYSE:BP) Reckless

Anadarko Petroleum (NYSE:APC), which owns a 25 percent stake in the oil well leaking into the Gulf of Mexico, went on the offensive today, calling BP (NYSE:BP) reckless concerning the accident.

"The mounting evidence clearly demonstrates that this tragedy was preventable and the direct result of BP's reckless decisions and actions," said Anadarko Chairman and Chief Executive Jim Hackett in a statement.

This is obviously a preemptive strike against Anadarko toward BP, as they know ultimately the focus will go off of BP solely and spread to other oil companies with a connection to the disaster.

Calls for these specific companies to possibly contribute to the escrow fund has already been made, and BP stated on Friday they have the right to bill their partners for a part of the claims made against them.

These two events must have triggered the response, which was very strongly worded, and left no doubt as to the primary guilt of BP in the incident, and implied they were completely responsible for the explosion of the Deepwater Horizon oil rig which led to the oil spill.

No comments: