BP (NYSE:BP): Closing price $40.57
The United Kingdom oil major’s internal investigation of the Deepwater Horizon occurance was without a crucial component in safety management, according to an expert witness for the plaintiffs suing BP along with other companies. Berkeley engineering professor Robert Bea testified that the firm’s investigation subsequent to the deadly accident failed to address possible systemic causes, among which would include actions taken by management. BP’s own evaluation, known as The Bly Report, examined the direct cause of the blowout on the rig and the part that equipment and crew on the rig played in the event, but failed to look at management decisions made leading up to the accident.
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