| 1. Based on the history of the company‚ why did BP get involved in so much questionable conduct? BP’s history extends back to 1901 when William D’Arcy’s Anglo-Persian Oil Company first drilled for oil in Persia and after seven years of drilling and darcy’s nearly spent his net worth finally oil spewed out and became rich. Unfortunately later at 1914 BP was on the verge of bankruptcy due to the very low demand of oil in global market. Accordingly ‚BP’s Board strategy focused for decades
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species‚ and residents. The direction of the federal government action towards clean up and studies have aided in the research and responsible clean up activities to understand the risk in the Gulf of Mexico to prevent future contamination. ("Deepwater Horizon Accident And Response"‚ 2014). Prevention The Oil Pollution Act signed on August 1990 was signed in response to a growing concern following an oil spill called Exxon Valdez incident. The law was approved to prevent oil spills and to take immediate
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123 The Deepwater Horizon oil spill (also referred to as the BP oil spill‚ the Gulf of Mexico oil spill‚ the BP oil disaster‚ or the Macondo blowout) is an oil spill in the Gulf of Mexico which flowed for three months in 2010. It is the largest accidental marine oil spill in the history of the petroleum industry. The spill stemmed from a sea-floor oil gusher that resulted from the April 20‚ 2010‚ explosion of Deepwater Horizon‚ which drilled on the BP-operated Macondo Prospect. The explosion killed
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Miller Energy Resources – Proposed TN Sale to Quest Deal Points/Overview Relevant Points: Purchase price: $6 million‚ paid $500 thousand at closing and the balance in common stock (assumes minimum 45% ownership in Quest post rollback). Quest will define what the share structure looks like post roll back on the stock. Quest to provide definitive procedures and timeline for OTCQX or NYSE Market Miller to have the right to appoint two directors of a five man board‚ Kevin DeLeon and TBD Acquisition
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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 on 29th June 2010 - 302.9p – price on 19th August 2010 – 386.7p – [http://www
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timely development of the 2008 to 2010 period. The principal reasons backlog for this decline include the economic environmentally recession in 2008-09 and the establishment Under such government policy‚ we of a moratorium on deepwater drilling and estimate total spending by the GoM subsequent slowdown of permit issuance in offshore oil and natural gas industry to both GoM deep and shallow waters in 2010 increase by over 70 percent by 2013 and into 2011. We estimate
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necessary looking out for our country’s general interest‚ or at least many times they tend to ignore facts when they are reasoning. He starts out making his point by talking about how the Senate overruled the House of Representatives decisions on drilling on the Arctic Nation Wildlife Refuge in Alaska‚ saying that would not be significant quantity‚ even when “ANWR could produce‚ for 25 years‚ at least as much oil as America currently imports from Saudi Arabia”( par.1). He also stated when the energy
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The largest oil spill in the history of United States is the Deepwater Horizon oil spill‚ also known as the BP oil spill. The oil spill initially lasted eighty-seven days‚ and the after-effects are still happening today‚ almost seven years later‚ causing heart disease. The oil spills lasting effects have polluted many water habitats and is beginning to pollute our air. Because of its pollution in our air‚ people are beginning to have heart problems‚ such as heart disease and respiratory issues.
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Issue Management: Risk Management Unlike traditional risk management tools‚ which are usually based around tangible and quantifiable issues‚ scenario thinking encourages executives to step into the unknown and imagine a range of possible futures. - Doug Randall and Chris Ertel Managing risk is central to many corporate strategies. Reputations that take decades to build can be ruined in a matter of hours through incidents such as environmental accidents. “The definition
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anomalous results of negative pressure tests. Multi-tasking during the process of displacing mud from the well. Turn off the alarm because it woke up workers at 3am. 3. How did BP’s history and culture shape decision-making on the Deepwater Horizon rig? How did the political and regulatory environment affect
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