Tuesday, June 8, 2010

BP (NYSE:BP) Captures 14,800 Barrels Monday

BP (NYSE:BP) is improving its capture rate of oil, as it increased to 14,800 barrels on the day, approaching the limitations of how much it can process on the one vessel in the area in the short term.

As a result of their success, BP is bringing another ship into the area in order to be able to process more of the captured oil as it increases in the amount collected. That ship is expected to reach the region in two to three days.

Once that ship arrives, it should be able to increase oil processing capacity from 5,000 to 10,000 barrels a day. The ship now doing the processing is only able to process 15,000 barrels a day, seemingly making the capturing process more successful than BP evidently originally thought it would be.

Sometime next month an even better cap will be put in place which should be able to capture even more oil and stop the ocean leak even better.

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