BP Plc, whose Macondo well blowout in the Gulf of Mexico caused the worst offshore oil spill in U.S. history last year, co-owns the well that was granted the first deepwater drilling permit since the disaster.
BP is Noble Energy Inc's partner in the well, holding a 46.5 percent interest, BP said.
On Thursday, Fred Bartlit, Chief Counsel of the BP Oil Spill Commission, issued a report in which he put blame squarely on BP for the disaster, including a failure to adequately supervise its Halliburton and Transocean subcontractors.
The seven-member Commission, appointed by President Obama before the well had even been capped, issued its "final" report on January 11. Although it cited many of the same BP-specific problems detailed by Bartlit, it implicated the entire oil and gas exploration and production industry, and called for "systemic reforms."
Today I discussed the increasing pressure on BP to suspend its dividend with Matt Miller of Wealth-X, along with CNBC co-hosts Amada Drury and Larry Kudlow. Rep. Peter Welch (D-VT) has organized a letter signed by 50 members of Congress demanding such a suspension. Here's a transcript:
It’s revealing that the “greenest” of the big international oil companies is now responsible for one of the worst ecological disasters in history. Maybe BP should have concentrated on its core mission of efficiently and safely producing oil instead of trying to make us believe that BP stands for “Beyond Petroleum.”
Most big companies zealously guard their brand names. British Petroleum seems embarrassed by theirs. Even as the Deepwater Horizon gushes into its 42nd day, the BP website proclaims: