Tuesday, June 8, 2010

BP (NYSE:BP) Replacing Containment cap

In July BP (NYSE:BP) has plans to replace the existing containment cap with one that will fit better, capturing more of the oil.

At this time the amount of oil being captured by the cap is increasing at a consistent basis, approaching 15,000 barrels a day.

The new cap will "provide a better, tighter fit," said BP spokesman Robert Wine, and will help them reach the goal of capturing about 90 percent of the oil escaping into the Gulf of Mexico.

As far as gallons go, the existing cap is capturing over 460,000 a day.

Relief wells are still being dug as the means to permanently stop the flow of oil, and will be finished at earliest by August.

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