Citywire for Financial Professionals
Stay connected:

Citywire printed articles sponsored by:


View the article online at http://citywire.co.uk/money/article/a418978

BP challenged over plans to drill in Libya

BP’s plans to start drilling for oil and gas off Libya have been challenged amid increasing calls for a moratorium on deepwater operations, following the spill in the Gulf of Mexico, according to reports.

BP challenged over plans to drill in Libya

BP’s plans to start drilling for oil and gas off Libya have been challenged amid increasing calls for a moratorium on deepwater operations, following the spill in the Gulf of Mexico.

Italy’s environment minister Stefania Prestigiacomo has become the first European Union senior official to suggest a delay in drilling while the Mediterranean finds a ‘common voice’.

Prestigiacomo told the Financial Times that deepwater drilling in the Mediterranean gave ‘rise to serious concern’.

She added: ‘A moratorium could be a right approach for potentially dangerous drilling…to give Europe time to define a new and specific strategy for the Mediterranean especially in light of the risk exposed by the Deepwater Horizon spill.’

BP has a rig in place in Libya’s Gulf of Sirte but the date the drilling will begin in unknown.

BP is also facing a challenge in the US. The owners of BP’s 11,300 petrol stations are considering whether to revert to the traditional American Amoco brand in a bid to reverse the reputation of the brand, according to The Sunday Times.

In some stations, sales have fallen by 40% as consumers boycott the brand.

In Germany, BP is planning to sell its forecourt business, Aral, for £1.7 billion.

15 comments so far. Why not have your say?

jmortongoff

Aug 02, 2010 at 10:13

Would not BP be the most experienced company for deep sea drilling following the Gulf spill?

report this

Attila

Aug 02, 2010 at 10:38

They were before the latest spill!

report this

Steve Hall

Aug 02, 2010 at 10:46

I wonder if it was a Itailan oil company drilling if she would have made the same comments, or for that matter if the oil had been in Itailan waters.I dont think so.

report this

Malcolm Martins

Aug 02, 2010 at 11:00

The U.S. is determined to bring down B.P. and then take it over on the cheap.

We should all boycott Esso in Britain.

report this

Graham Barlow

Aug 02, 2010 at 11:36

BP have controlled the disaster, which looks as if it will be nothing like the Scale of the Exon Valdes disaster, The American litigation industry will exagerate and villify to the maximum to create opportunities to make money without producing anything. America and its lawyers love this kind of thing, like Generals toast for more warefare. Once the effects wear off it will all be forgotten as the Oil Junkies of America and now China and India rape the world in their craving for the black stuff.

report this

roland bridges

Aug 02, 2010 at 12:01

Will the Italian minister also call for a stop to it,s own oil company drilling off Angola and Namibia.

I am not holding my breath

report this

Mr Chips

Aug 02, 2010 at 13:10

The US launched the first volley against BPs rights to drill off-shore Libya. Now Italy have joined the affray. No doubt, as world oil reserves dwindle, international disputes will become common place and increasingly intense. However, the use of dispersants raises serious health issues and can not be dismissed or ignored. For that matter, so do the wars.

report this

John Coles

Aug 02, 2010 at 13:29

The maundering of Stefania Prestigiacomo does not constitute a "challenge".

report this

Tony.G.

Aug 02, 2010 at 14:15

I s anyone going to tell the truth about the g.o.m. spill.Was it the American part of B.P. that did the drilling.Was American equipment used. If so why is the rest of the company getting all the blaime. British Petrolium used to be great company before it took up with the yanks.

report this

Godfrey Billy

Aug 02, 2010 at 15:06

We all learn by mistakes and accidents, sometimes very costly as is the case in the gulf of mexico and no doubt BP has learned their lessons and they should be allowed to drill off Libyan coast and get on with what they know best.

report this

Suspicious one.

Aug 02, 2010 at 15:19

A typical knee jerk reaction from a politician anxious to gain a few votes at the next election. An Italian Obama no doubt.

report this

John H

Aug 02, 2010 at 19:18

I'm at a loss to understand why BP has taken all the flak over the matter. BP only leased the rig and an american company was running it and another american company made the blowout preventer that failed.

As for Barak Obama; I've lost any respect for him after his outbursts.

report this

Thoughtfull

Aug 02, 2010 at 21:34

I agree with your comments on real responsibilites John H.

The only thing missing is politics. The Obama election miracle has suddenly lost it's lustre and he is desperate to show that he can really be a pompous big man who is in control (of the world?)

Cameron's polical frankness in describing us as the junior partner saddens me; looks like he intends to continue to allow us to be the infantile **** licker. Sorry, I do not usually use such language, but Obama grinds.

report this

iain meek

Aug 02, 2010 at 22:01

I too would imagine that BP would be rather more careful in future deep sea drilling. Once bitten, twice shy.

Does anyone know why BP is continuing to take all the flak when so many American companies seem to have been more closely involved in the disaster? Or is this just part of the PR disaster?

report this

Brian Pearson

Aug 03, 2010 at 10:49

Maybe BP is takiing the flak to ensure the media do not bear their guns in the direction of other involved companies. Dont worry all! The BP situation was like dropping a stone in environmental and political waters. Eventually, as time goes bye, the ripples of recrimination will smooth out and another headline will take its place. Goodness knows, there are enough politically weighted headlines out there for the politicians to use..

report this

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

Sorry, this link is not
quite ready yet