Thu. Dec 9th, 2021

BP’s Oil Recovery Efforts Looking Positively

BP PLC’s (BPBP.LN) oil recovery efforts held steady Tuesday morning with their level of selection the earlier night, as the organization continued to partially divert crude spilling from a broken well within the U.S. Gulf of Mexico.

BP said it had recovered 12,605 barrels of oil throughout the first twelve hours of Tuesday, 8,475 of which was collected and 4,130 of which was flared. The previous 12-hour quantity was 12,325 barrels.

A team of experts has estimated that about 35,000 to 60,000 barrels are flowing from the broken well each and every day.

Although Tropical Storm Alex–expected to turn out to be Hurricane Alex shortly, based on the National Hurricane Center–is not headed toward the well, the storm is expected to delay BP’s plan to increase the amount of oil collected from the leaking well by a week.

The U.K. oil giant has been under intense pressure to successfully contain the spewing oil, which started in April when a deepwater drilling rig exploded and sank. The drilling of relief wells is due to become complete in August, at which point the company would pump heavy drilling fluids into the current well to restrict the oil flow, permitting it to be plugged with cement.

BP’s American depositary shares had been up 0.4% at $27.78 after several hours. The stock has lost more than half its value because the oil leak started.

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