BP Oil Spill Update – BP Set To Test New Seal Cap, Success Uncertain

Yesterday marked a turning point in BP’s efforts to contain the gushing oil from busted oil pipe 5000 feet in the Gulf of Mexico. BP was able to place a new containment seal onto the broken pipe, allowing engineers to attempt to finally shut down the gushing oil.

BP shares rose 2.9% to 410.35 pence in London on Tuesday, buoyed by rising optimism about the company’s latest attempt to stanch the leak and relief that the finale of the Gulf oil disaster may be in sight. BP’s stock has risen some 35% since hitting a 14-year low June 29 – according to the Wall Street Journal.

The company has stressed the fact that these types of procedures have never before been conducted at such depths, and success is not certain.

However, by looking at the live BP oil feed, this is best the busted pipe has looked since they started showing live feeds. It looks like BP has made substantial progress in the containment of the gushing oil leak.

Since nearly 3 months ago, BP’s busted oil pipe has been spewing nearly 60,000 barrels of oil a day into the Gulf of Mexico.

Here’s a new report on the BP oil spill from Al Jazeera: