Wednesday, June 23, 2010

BP's (NYSE:BP) Storm and Containment Strategy

Now that the storm season is almost upon the Gulf of Mexico, BP (NYSE:BP) is working to improve the system it uses to capture oil, while at the same time making it easier for ships and crew to disconnect from them in order to quickly and safely leave.

For the new containment system itself, BP will put a new cap on the leaking oil well which will capture more oil before a storm and after the storm leaves.

Most of these changes are projected to be in place before July.

After these things BP should be able to capture up to 50,000 barrels of oil a day, giving a clearer picture of what is actually leaking into the Gulf, as wells as the liability connected to it.

While a new sensor to measure the oil escaping will be part of the new system, it seems the actual capturing of oil will be the most accurate measurement.

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