BP Had 360 Problems On Deepwater Horizon

Employees of BP plc BP said that they had found 360 problems related to overdue maintenance on the Deepwater Horizon rig, according to an investigation by the US Coast Guard and the Bureau of Ocean Energy Management. According to the FT, these “included problems with the alarms and an emergency shutdown panel. “ Why was the rig left to operate under such circumstances? That will be the question asked by the US government and lawyers for plaintiffs–the people and businesses that will file suit against BP and partners including Transocean RIG. If the testimony is confirmed, it could greatly increase liability claims against the firms, and it is not entirely clear whether those claims would be covered by the BP $20 billion escrow account. To read the rest, head over to 247WallSt.com