Wednesday, September 1, 2010

BP (NYSE:BP) Won't Resume Blowout Preventer Removal Till Friday at Earliest

Government point man Thad Allen said BP (NYSE:BP) won't be able to resume the effort to remove the blowout preventer until at the earliest: Friday. It's more likely it'll be later than that.

Large waves continue to hamper the salvage efforts, and until that changes, there's nothing the oil company will be allowed or able to do.

Allen added it could even be next week before work can start up again.

The blowout preventer is the key piece of equipment which should be able to shed light on what caused the explosion which killed 11 workers on the Deepwater Horizon oil rig in April.

BP's challenge is to remove it in a way where no damage could compromise the preventer, so a conclusion can be drawn concerning liability.

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