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Title: BP Plans to Start Drilling Off Libya as U.S. Senators Seek Lockerbie Probe
Source: Bloomberg
URL Source: http://www.bloomberg.com/news/2010- ... seek-lockerbie-link-probe.html
Published: Jul 14, 2010
Author: Eduard Gismatullin
Post Date: 2010-07-14 11:59:47 by Brian S
Keywords: None
Views: 1332
Comments: 7

BP Plc should stop a planned drilling campaign in Libya while links between the oil producer and the release of Lockerbie bomber Abdelbaset al-Megrahi are investigated, a group of U.S. Senators said.

The London-based company has a rig in place to start a well in the Gulf of Sirt after completing a seismic survey last year. BP also plans to drill onshore in the Ghadames basin by the end of the year, Robert Wine, a spokesman for BP, said today.

BP, under political pressure to stop and clean up the worst oil spill in U.S. history, signed an exploration agreement with Libya’s National Oil Corp. in May 2007 during a visit by then- U.K. Prime Minister Tony Blair. U.S. senators, who yesterday asked Secretary of State Hillary Clinton to examine whether BP helped secure al-Megrahi’s freedom from a Scottish jail to facilitate the deal, held a press conference today demanding BP stop drilling in Libya.

“Evidence in the Deepwater Horizon disaster seems to suggest that BP would put profit ahead of people,” Senators Frank Lautenberg and Robert Menendez of New Jersey and Charles Schumer and Kirsten Gillibrand of New York wrote in the letter to Clinton yesterday. “The question we now have to answer is, was this corporation willing to trade justice in the murder of 270 innocent people for oil profits?”

Menendez, Schumer and Lautenberg held a press conference in Washington this morning “to call for BP to suspend its oil drilling plans in Libya,” Mike Morey, a spokesman for Schumer, wrote in an e-mail.

Oil Reserves

Libya has proved oil reserves of 44.3 billion barrels, the most in Africa, according to the BP Statistical Review of World Energy. BP’s worldwide operations have come under examination after an unstable well caused an explosion on the Deepwater Horizon rig in the Gulf of Mexico on April 20, killing 11 and starting an oil spill.

“Libya due to start in a matter of weeks,” Wine said today in an e-mail. “Rig is being made ready, final preparations and checks are underway.”

In August 2009, the Scottish government freed al-Megrahi on compassionate grounds. He was the only person found guilty of the 1988 bombing of Pan Am Flight 103 over Lockerbie, Scotland, that killed 270 people.

‘Public Record’

“It is a matter of public record that in late 2007 BP discussed with the U.K. government our concern at the slow progress in concluding a Prisoner Transfer Agreement,” the company said today.

“We were aware that a delay might have negative consequences for U.K. commercial interests, including ratification of BP’s exploration agreement. However, we did not express a view about the specific form of the agreement, which was a matter for the U.K. and Libyan governments,” it said in statement e-mailed to Bloomberg News.

Libya formally accepted responsibility for the Lockerbie attack in 2003 and agreed to pay up to $2.7 billion in damages to families of the victims. Libyan leader Muammar Qaddafi finished settling claims of U.S. Lockerbie victims with a $1.5 billion installment last year.

The country was removed from the U.S. list of states sponsoring terrorism in 2006 after Qaddafi agreed to give up chemical weapons and compensate Lockerbie victims. Subscribe to *Spill-Baby-Spill*

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#1. To: Brian S (#0)

Day 86....and more and more jobs are being lost due to Owe-bama's insanity.

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-07-14   12:01:55 ET  Reply   Trace   Private Reply  


#2. To: Brian S (#0)

The country was removed from the U.S. list of states sponsoring terrorism in 2006 after Qaddafi agreed to give up chemical weapons and compensate Lockerbie victims.

Good. It'll give Hillary something to do while she's waiting for the next War for Israel.

Too bad that we're only now focusing on Blair.

BS. Let me translate. The country was removed from the U.S. list of states sponsoring terrorism in 2006 after the Cheney's Energy Task Force realized that ZERO was coming out of Iraq. Qaddafi agreed to give up chemical weapons(he had none;} and compensate Lockerbie victims (small change).

mcgowanjm  posted on  2010-07-14   12:44:28 ET  Reply   Trace   Private Reply  


#3. To: Brian S (#0)

BP, under political pressure to stop and clean up the worst oil spill in U.S. history, signed an exploration agreement with Libya’s National Oil Corp. in May 2007 during a visit by then- U.K. Prime Minister Tony Blair. U.S. senators, who yesterday asked Secretary of State Hillary Clinton to examine whether BP helped secure al-Megrahi’s freedom from a Scottish jail to facilitate the deal, held a press conference today demanding BP stop drilling in Libya.

“Evidence in the Deepwater Horizon disaster seems to suggest that BP would put profit ahead of people,” Senators Frank Lautenberg and Robert Menendez of New Jersey and Charles Schumer and Kirsten Gillibrand of New York wrote in the letter to Clinton yesterday.

But what does 'stop and clean up' mean?

Russia too? TNK-BP?

http://gcaptain.com/forum/offshore/4805-deepwater-horizon-transocean-oil-rig-fire-186.html#post39604

In my view, and my small amount of experience with a well blowing water, heavy mud, as fast as possible (at least as fast as you think it is flowing) and lots of mud. In bp's case they will be using water based kill mud (anyone aware of mention of anything else?) which will get a better sealing effect from the mud if it starts going sideways. I share the same logic and totally agree with your perspective. However we have to be mindful of that weak/loss zone encountered beneath the reservoir that took 3000 bbl. When, as you said, kill mud finally counterbalances formation pressure, would not " overkill" pun intended, in terms of excess mud wt and SPM fracture into this weak zone ? p/s: I also did consider the share price trends CM1 just mentioned, a few days ago....you'll never know with these shameless greedy avaricious low life....whose motto in life is "WHO CARES !!!". If this is the case and they screw things up, the price will drop like a stone and never recover. I guess this could be a chance for share holders to cut their loss and quit with some lose change while they can. Interesting times lay ahead, lets just wait and see what they will pull out of the top hat next. http://finance.yahoo.com/echarts?s=B...urce=undefined

mcgowanjm  posted on  2010-07-14   12:47:39 ET  Reply   Trace   Private Reply  


#4. To: Brian S (#0)

“The question we now have to answer is, was this corporation willing to trade justice in the murder of 270 innocent people for oil profits?”

And a huge BWAHAHAHAHAHAHAHA

Since the SCOTUS pulled that coup in 12122000.

Since cheney/SS/NORAD did 9/11.

Since we invaded Iraq in our War of Terror/for Oil.

We traded 'justice' in so long ago that a Totalitarian Police State seems like normal.

BWAHAHAHAHAHAHA

mcgowanjm  posted on  2010-07-14   12:49:52 ET  Reply   Trace   Private Reply  


#5. To: Brian S (#0)

BP received their moneys worth from Odinga and the Oilers.

-----------------------------------------------------------
Toss: ADL,CAIR and the Vatican into the pit they belong in.

WhiteSands  posted on  2010-07-14   19:02:57 ET  Reply   Trace   Private Reply  


#6. To: Brian S (#0)

No hope:

They needed 8/9,000 psi.

They got 2 000 and stopped:

Pressure has held steady for a couple of minutes at 2,000 psi, instead of the hoped-for 8,000-9,000 psi.

Allen said that at least 6 hours of measurements would be needed, so this is not a definite failure yet. I am hoping that this is a malfunction in the gauges, and that - after the problem is fixed - the real readings will be much higher.

But at least initially it looks bad ...

BP should have never tried this hair-brain plan.

Update: The video feeds now (4:25 pm Pacific Standard Time) show that the well integrity test has been halted. Specifically, the reduced oil flow observed during the test has now turned back into a gusher. No word yet on when BP will try the test again ... if at all.

mcgowanjm  posted on  2010-07-14   19:44:16 ET  Reply   Trace   Private Reply  


#7. To: All (#6)

New: What the fuck is bp doing?

Recently-retired Shell Oil President John Hofmeister made a similar point today:

I think the fundamental issue… is there are serious concerns about the integrity of the casing that is the well itself.

And that by putting the cap on and doing the stress tests… that the integrity of the steel is insufficient to hold the pressure of the well.

And if you lose the casing its game over.

It’s like having a volcano on the bottom of the sea.

If you lose the casing and oil starts coming up on the outside of the casing you cant stop it.

There’s nothing you can do that would stop it…other than implode the well.

There are many in the industry that feel the casing must have been damaged because of the power of that well, the pressure of that reservoir.

Hofmeister stresses:

Let's not do the "stress tests" until we're ready to go with the relief wells... Better have relief wells up and operating before [you run any integrity tests].

The US Collapse proceeds.

mcgowanjm  posted on  2010-07-14   19:46:17 ET  Reply   Trace   Private Reply  


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