Saturday, June 12, 2010

BP (NYSE:BP) Submits New Oil Capture Plan to Federal Government

A new oil capture plan from BP (NYSE:BP) has been submitted to the federal government which will increase the amount of oil BP is capturing on a daily basis.

The plan would involve changing the current drilling ship with other vessels built to withstand harsher conditions, presumably if the hurricane season becomes a factor in the accident.

BP captured near the upper end of its capacity on Friday, collecting and processing 15,400 barrels of oil from the well, with estimates they could handle up to about 18,000 barrels a day, although that limit hasn't been tested yet.

Using these ships would allow BP to capture more oil while they wait for their two relief wells to be drilled, which would make the solution permanent.

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