Added by James Morley on September 20, 2010
US officials stated that British Petroleum Plc (BP) has sealed the Gulf of Mexico well with cement and that the Maconondo 252 well is no longer a threat to the gulf. President Barack Obama has welcomed this new development and stated that it’s an important milestone in the Gulf of Mexico disaster. Obama added that the administration will now focus on the recovery of the area and helping locals to restore the environment and rebuilt their livelihoods.
Last Thursday, on September 15, BP started pumping cement in the Macondo well to seal the reservoir. After filling the well with cement on Friday, the UK company did a pressure test two days later, on Sunday, to prove that the well was sealed for good. This oil spill was the worst in the entire history of the US and the deep-sea well that ruptured back in April has continued to spill oil into the sea for the last five months leading to an overall spew of 4 million barrels of oil.
After the disaster, BP’s market value decreased by $70bn and the company’s chief executive, Tony Hayward, will be replaced with Bob Dudley starting October 1st, after taking upon himself all the anger of the public with regard to the oil spill.