Wednesday, July 28, 2010

BP (NYSE:BP) Change of Leadership Won't Dampen Cleanup Efforts says Thad Allen

Government point man in the Gulf of Mexico oil spill, former Coast Guard Admiral Thad Allen, said the change of CEOs by BP (NYSE:BP) won't change the commitment to cleanup efforts in the region.

Commenting on the decision to remove Tony Hayward on October 1, Allen said, "I don't see any diminishing of performance or priorities," from the transition.

Effectively Bob Dudley will be CEO, as Hayward will obviously be a lame duck and non-entity; at least in the United States, where he has numerous PR disasters which made the situation worse than it had been from that perspective.

The schedule to being the "static kill' on Monday remains on target as well, which at the end of the week should finish off with the relief well ready to plug the well permanently on the bottom.

The static kill will focus on the top of the well, where cement and mud is injected into the well. The relief well does a similar thing from the bottom of the well.

Allen added the containment cap which has stopped the oil from flowing into the Gulf remains stable and continues to do the job it was intended to do.

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