As per a Reuters poll, BP’s Gulf of Mexico oil spill affected its profits and its production in the third quarter.
The third-quarter replacement cost profit for BP went down by 2% to $4.60 billion in spite of a 12% increase in the prices of crude oil, 29% rise in natural gas prices in the United States, and two times increase in the U. K. gas prices.
The number of operator ships plying back and forth from the Gulf of Mexico is supposed to be withdrawn by the British Petroleum. The initiative is part of a bigger plan and motive.
The company wishes to cut down on its capital investment and total yearly spending. Also, in accordance with the Macondo oil spill it wants to rebalance its assortment of resources.
Oil giant BP is fully aware of the fact that the amount of fine to be levied by the US government, for the infamous Gulf of Mexico oil spill, will largely depend on the quantity of oil spilled. As such, the company is getting ready for the legal scuffle with the US government over the fines, and is working on formulating its own estimates of how much oil spewed from its ruptured well.
The cost that BP has had to pay up to now for the Deepwater Horizon catastrophe has struck $10bn.
The containing and cleaning process of the gigantic oil spill has hit almost $10bn, after the Government of the United States announced that spill well had at last been plugged, which is five months after the blast occurred in the oil well.
On Friday, Retired Coast Guard Admiral, Thad W. Allen, stated that the relief well which was placed more than 17,000 feet below the floor of the Gulf of Mexico, has finally reached the Macondo oil well, which is owned by British Petroleum. As a result, the oil well is now secured and, Allen added, with not a shred of doubt, the well is secured and there are no traces of oil discharge.
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