BP Claims Progress on Long-Term Solution

According to a June 13 report from MarketWatch, BP PLC said it was taking steps to implement a more permanent arrangement to capture the oil spewing into the Gulf of Mexico, as U.S. officials continued to demand more compensation for the spill. Equipment had been installed and put in place over the weekend as BP worked to put together a system with the flexibility to respond to adverse weather conditions, such as a hurricane, and a bigger storage capacity, BP said. In addition, Helix Energy Solutions Group Inc. said late on June 13 that one of its three offshore oil and gas production facilities was contracted by BP to process and offload crude oil and associated gas.

(Source: MarketWatch)