Report: BP takes blame for Gulf oil spill (Houston)
BP Plc has accepted responsibility for the Deepwater Horizon rig disaster, according to a conference call and report released Wednesday from Tudor, Pickering, Holt & Co. Securities Inc.
“Finally, there were a little bit of fireworks when BP admitted that they are liable for the issue and (Transocean Ltd.’s) CEO keyed in on that statement,” the report stated.
After weeks of bandying about blame, the fact that BP is falling on its sword does not come as a surprise to industry insiders.
According to statements made to the HBJ over the last week, the move was expected because BP is a brand that is tangible to end-consumers, mainly from BP-branded gas stations. Switzerland-based Transocean Ltd., on the other hand, is not, and oil and gas exploration companies will continue to hire and depend on the world’s largest offshore driller, spill or no spill.
Continuing the blame game, insiders say, would only cause increased scrutiny on Transocean, which would be bad for the entire offshore industry.
Both BP and Transocean appeared before the Senate Committee on Energy & Natural Resources on May 11 in a testimony that remained mostly even-tempered, according to Houston-based Tudor Pickering.
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