123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Education >> View Article

Bp Oil Spill

By Author: Sherry Roberts
Total Articles: 580

Cause and solution
There are several factors that caused the explosion that destroyed the Deepwater Horizon drilling rig in the Gulf of Mexico. The event lead to the death of 11 people and was one of the biggest oil leaks in history. According to BP, the accident was caused by failure of different safety systems meant to prevent such kind of accident (Steffy, 2010). The cause of the spill included valve failure, dodgy cement, pressure test misinterpreted, lack of gas alarm, and delay in spotting the leak.
The various documents by the federal investigators showed that one faulty piece of equipment is what allowed the uncontrolled gas and crude to blow out and destroyed the Deepwater Horizon rig; thus, causing the worst oil spill. Based on the causes of the deepwater spills, it is clear that there are some solutions that can be applied so as to help resolve the problem (Steffy, 2010). One thing is that a culture of tight safety and experienced regulators would have helped in preventing the BP Deepwater Horizon leak. There is a need for equipment modifications and new technologies that will help to minimize the risk of such oil leaks. A solution involves pushing the culture of safety that includes establishing new drilling guidelines, tougher inspection regimes, and operator certification requirements (Fairley, 2010). It is necessary that the oil and gas drillers should perform tests and maintenance on their blowout preventer. The blowout prevent equipment that does seal and control the gas and oil wells, and this did fail during the deepwater horizon spill.
BP survival
From the disaster, BP estimates that it did cost nearly $40 billion. The spill wiped out half of the company’s value, and the company’s share price dropped from 653 pence per share to 303 per share by June (Bryant, 2011). However, the recovery for the company has been steady. BP survived the disaster because it took responsibility for what had happened. After the incident, the goal of BP was to clean up the spill as fast as possible, restore the environment and the economy, and also restore its image. The company has the objective of admitting to the Americans that it was responsible for the explosion and it was held accountable for the crisis (Steffy, 2010). After understanding the impact of the disaster, BP decided to set up a $20 billion fund to cover the costs of the claims by residents who were affected by the spill.
BP also managed to survive the disaster through considering selling some of its assets in places such as Vietnam and Egypt. The strategy that the company used was one that considered shrinking to grow as that enabled the company to survive the disaster (Bryant, 2011). While selling some of its assets so as to ensure proper management, the company also considered some other strategies that would ensure that it improves the ecosystem. BP ensured that it was one of its key responsibilities to take care of the damage that had happened as a result of the oil spill. Therefore, the company ensured that it paid its fines, enhanced security, and also helped to clean up the oil spill that has occurred.

Steffy, L (2010). Shrinking to grow’ BP strategy for survival. From http://www.chron.com/business/steffy/article/Loren-Steffy-Shrinking-to-grow-BP-strategy-1703370.php
Bryant, B (2011). Deepwater Horizon and the Gulf oil spill. The Guardian From https://www.theguardian.com/environment/2011/apr/20/deepwater-horizon-key-questions-answered
Fairley, P (2010). How to prevent deepwater spills. MIT technology review. From https://www.technologyreview.com/s/419328/how-to-prevent-deepwater-spills/

Sherry Roberts is the author of this paper. A senior editor at Melda Research in custom nursing papers if you need a similar paper you can place your order for a custom research paper from custom written research paper.

More About the Author

Author is associated with MeldaResearch.Com which is a global Custom Essay Writing and Term Paper Writing Company. If you would like help in Research Papers and Term Paper Help you can visit Custom Writing Service

Total Views: 34Word Count: 610See All articles From Author

Education Articles

1. The Best Campus Traditions For Students Who Study In Canada
Author: Global Tree

2. What Is Angularjs?architecture And Features
Author: infocampus

3. Part Of Fashion World
Author: Vivek Kumar

4. What Do You Need To Know About Cdr Writing Services In Australia?
Author: Need To Know About CDR Writing Services In Austral

5. Ways To Prevent Underground Utility Strikes
Author: Peter Ashcroft

6. Add More Virtues To Your Non-profit Organization With Bulk Sms
Author: MsgClub

7. Python For Data Science
Author: nandhinidevi

8. Tnpsc Group 4 Apply Online
Author: jeyanth

9. Digital Cameras. How Many Mega Pixels Do I Really Want?
Author: saketh

10. Best Reasons To Study Mbbs Abroad
Author: Nadeem Saifi

11. Why Iot Is Becoming One Of The Most Advanced And Emerging Technologies?
Author: Vincampus

12. Top Bba Colleges In Delhi ncr
Author: Deepankar Julka

13. How Ai Is Helping To Bolster The Engineering Industry
Author: KR Mangalam University

14. Sbi Clerk Results 2019
Author: Rohan varma

15. How To Write Technical Paper At Its Best
Author: Sameera Sehgal

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: