BP’s latest response to the oil spill in the Gulf of Mexico

BP has stated that a

"sequence of failures involving a number of different parties"

was the reason for the Deepwater Horizon oil spill disaster in April.

As part of a new report into the disaster, BP state that they are culpable for some of the blame but also placed blame on other companies involved. They are currently facing legal claims from many companies across the gulf who state that their businesses have been affected by the spill.

The oil well was finally capped on the 15th of July and a permanent seal is hoped to be completed in the next few weeks.

As part of the 193 page report, BP states that Transocean and cement contractor Halliburton were also to blame.

In relation to Transocean’s involvement they stated:

"Over a 40-minute period, the Transocean rig crew failed to recognise and act on the influx of hydrocarbons into the well"

In criticism of Halliburton BP stated:

"To put it simply, there was a bad cement job and a failure of the shoe track barrier at the bottom of the well, which let hydrocarbons from the reservoir into the production casing,"

BP’s costs are rising and they have already spent about $399m on claims alone. The current estimate of total costs incurred stands at $8bn but this figure is expected to rise. The spill containment and spill clean-up continues across four US States.