Thursday, August 19, 2010

BP (NYSE:BP) Not Responding to Transocean (NYSE:RIG) Request for Oil Spill Documents

Documents which could shed light on the cause of the oil spill have been requested by Transocean (NYSE:RIG) from BP NYSE:BP), which owned the Deepwater Horizon oil rig that they had leased to BP.

In a letter to BP on Wednesday, Transocean attorney Steven Roberts pressed the issue harder, and sent a copy of the letter to members of Congress as well as the Obama administration.

A copy of Roberts' letter, revealed he told BP that "the task of fairly determining the cause and measures to improve the safety of all offshore workers cannot be completed in a manner that instills confidence in any findings.”

There were 16 categories of data Transocean is asking for, including tests on the blowout preventer, which would shed light on whether or not that was the ultimate cause of the accident.

The blowout preventer remains trapped in the oil well, and is part of the reason for the delay of the bottom kill, as concerns the permanent plugging of the well could damage it, compromising its use to determine whether it had failed to do its job.

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