Daily Archives: June 17, 2010

Anna Fifield

Anna Fifield is the FT’s US political correspondent and has been covering the Washington end of the BP oil spill since the Deepwater Horizon rig exploded on April 20. She blogged live from the hearing room.

5:28pm: Mr Hayward and the other BP executives were escorted under heavy police and security guard out to black SUVs that were waiting at the nearest exit. One photographer who apparently got too close to Mr Hayward was seen being pushed away from the executives by a Capitol police officer.

And with that, this blog comes to a close.

5:26pm: Mr Stupak is bringing the hearing to a close. “We could go here all night and I’m sure people would like to,” he said, but said that instead lawmakers would have 10 days to ask additional questions.

“I agree we’re the most important committee in Congress but even this committee must come to an end,” he said.

Mr Stupak, however, told Mr Hayward that lawmakers had been frustrated with all his “I don’t know” answers and said he should be better prepared to answer their questions during the next session. Read more

Anna Fifield

Anna Fifield is the FT’s US political correspondent and has been covering the Washington end of the BP oil spill since the Deepwater Horizon rig exploded on April 20. She blogged live from the hearing room.

12:52pm: The hearing was adjourned for another recess as lawmakers return to the House chamber to vote. it will resume at 2pm Washington time.

12:38pm: The hearing soon descended into angry arguing.

“When you became CEO three years ago, you said safety would be your top priority, that you would focus on it like a laser,” Mr Waxman told Mr Hayward. “Have you met that commitment that you made?”

Mr Hayward responded that BP had “made a lot of progress… major changes,” since he became chief executive and said he was “distraught” by the Gulf spill. Read more

Anna Fifield

Live updates as the BP chief executive testifies on the Deepwater Horizon accident and the continuing Gulf oil leak.  Read more

Kate Mackenzie

The oil industry opposes compulsory drilling of relief wells as a failsafe measure against future blowouts. Although cost is certainly a factor, some of their arguments are compelling.  Read more

Kate Mackenzie

Simmons & Co International, the energy investment bank founded by author and peak oilist Matt Simmons, has announced that Simmons himself is retiring as chairman emeritus there. His views on the Gulf spill and other issues such as US gas production have diverged from the bank’s in recent months. Read more

There’s been a mixed reaction from City analysts to BP’s decision to halt dividend payments for the rest of the year and pay $20bn into a Gulf of Mexico claims fund. Read more

Kate Mackenzie

BP shares are enjoying something of an uptick today: [chart] Yet just a week ago, before the dividend fears really took hold, this wouldn’t have been such a good result.  Read more

Kate Mackenzie

The experience of oil companies in a couple of ultra-deepwater developments suggests that, for whatever reason, these projects don’t always meet expectations.  Read more

Kate Mackenzie

FT White House correspondent Anna Fifield will be providing updates on Energy Source live from Tony Hayward’s appearance before a House committee later on Thursday. Read more

Kate Mackenzie

- BP backs $20bn spill fund – FT

- Obama struggles to take control of events – FT

- Svanberg admits deal will annoy investors – FT

- BP chief to apologise for ‘complex’ Gulf accident – Bloomberg

- Australia must ‘revisit’ regulations after spill – Bloomberg [And more] Read more