The Economic Impact of the BP Oil Spill In April of 2010‚ a British Petroleum operated oil drilling rig off the Gulf of Mexico‚ the Deepwater Horizon‚ exploded suddenly after high pressure methane gas from the oil well rose to the drilling rig‚ causing it to ignite and then sink to the bottom of the ocean floor. The explosion caused a sea-floor level oil blowout‚ and crude oil was leaked into the surrounding water for three months before a solution was found. After eighty-seven long days‚ the wellhead
Premium Petroleum Oil platform Exxon Valdez oil spill
The BP oil spill‚ more famously referred to as the Deepwater Horizon Spill‚ occurred in 2010 in the Gulf of Mexico and flowed unmitigated for as long as 3 months. The BP oil spill has fared as the largest marine oil spill ever confronted in the history of the petroleum industry. The oil spill on the 20th of April 2010 was primarily the result of a gas release followed by an explosion in the Deepwater Horizon oil rig‚ in the Gulf of Mexico‚ established on the Mocando exploration well designed for
Premium Petroleum Drilling rig Exxon Valdez oil spill
TNK-BP is a joint venture company owned by British Petroleum‚ more commonly known as BP‚ and the Alfa‚ Access/Renova group‚ more commonly known as AAR. Both BP and AAR each own 50% of TNK-BP. TNK-BP was created in 2003 after a merger between BP and TNK that settled the dispute between the two companies over Sidanco and its subsidiary Chernogorneft’s ownership that had been on- going for years. The partnership combined BP’s knowledge‚ equipment‚ and experience; and Russia’s new supply
Premium Petroleum Natural gas Corporation
How BP failed at crisis communication British Petroleum (BP) suffered a large-scale public relations and crisis communication disaster‚ when an oil-drilling rig accident on 20th April 2010 incurred a spillage of several million gallons of crude oil into the Gulf of Mexico. This catastrophic spill has been regarded as one of the most severe environmental damages recorded in the U.S. history‚ causing public animosity and frustration‚ substantially because of inappropriate BP´s crisis communication
Premium Public relations Petroleum Exxon Valdez oil spill
Research and Analysis Report An Analysis of the Financial Situation of BP P.L.C. Prepared by Yuehua Song Actual words: 4‚952words Date: September 2007 content 1.0 INTRODUCTION 2 1.1 Topic Chosen 2 1.2 Reasons for Choosing the Topic 2 1.3 Aims and Objectives 3 1.3.1 Aims 3 1.3.2 Objectives 3 1.4 Sources of Information 6 1.4.1 Annual Reports and Accounts of BP 2002-2006 6 1.4.2 Annual Reports of Shell 2002-2006 7 1.4.3 Analysts’ Reports 7 1.4.4
Premium Financial ratio Peak oil Petroleum
Assignment One This paper aims at identifying the communication problems facing BP‚ pointing out the concerns the key stakeholders may have‚ and discussing the steps that BP should use to deal with the key stakeholders. The main communication problem facing BP is failure to satisfy their stakeholders‚ the pubic‚ and the U.S. government. With each failure to stem the flow‚ BP’s communication problem makes the situation worse; BP becomes the target of criticism from all quarters. The cause of the communication
Free Federal government of the United States President of the United States United States
Deep Horizon oil rig occurred in the Gulf of Mexico Near Louisiana. Fifteen out the of one hundred fifty men who were on board were injured. Approximately two days later‚ the rig sang and oil began spewing. The oil leaked for over one hundred days. The BP oil disaster in the gulf has posed a threat on the people and the environment that surround the oil spill. The effects of offshore drilling can be catastrophic‚ especially after seeing what has happened in the Gulf. There are many concerns that come
Premium Petroleum Mexico Natural gas
Business Communications BP and the Gulf of Mexico Oil Spill 04-71-100-05 Dr. R. Kobe Meshal Mustafa January 31th‚ 2013 An explosion took place on the Deep Water Horizon on April 20th‚ 2013. I will be discussing the main communication problem that BP faced. First I will discuss the causes of the problem‚ second I will talk about the symptoms. Thirdly‚ I will discuss the key stakeholder groups and the issues they are concerned about. Lastly‚ I will discuss how BP can use the communication model
Premium Public relations Communication Stakeholder
will look at British Petroleum‚ BP‚ one of the largest oil companies in the world. Following the Gulf Oil Spill does BP have sustainability in this market? This paper will examine the early history of the company. It will look at the competitive advantages of the organization by looking at its SWOT analysis. The company’s market strategy will be examined including its growing interest into alternative fuels. Its internal structure will be compared to the persona that BP is trying to convey that they
Premium Petroleum
SAXENARAGHAV YADAVROHAN ANANDDATE OF SUBMISSION: 24TH AUGUST‚ 2010 | | Effect of BP oil spill and subsequent market reaction on the assets of pension funds and mutual funds Case Facts:- * 20th April 2010 – an explosion caused by blowout on Deepwater Horizon rig kills 11 crewman (including 9 Transocean employees) and ignites a fireball visible from 35 miles. * Deepwater Horizon was leased to BP from March 2008 to September 2013 * Share price on 21st April 2010 – 648.20p & lowest
Premium Management Project management Organization