Figure 2: financial impacts of non-operating charges linked to the bp gulf of mexico oil spill response for the first two quarters of 2010 (bp 2010, p6) yet, the charge does not reflect any amounts relating to fi. As currents and winds spread the oil from the mile-deep spill site, all habitats were at risk of contamination estuaries and coral reefs are some of the most sensitive areas in the impact zone as they provide protection, feeding areas, and nurseries for a large diversity of species. On 5 july 2010, bp reported that its own expenditures on the oil spill had reached $312 billion, including the cost of the spill response, containment, relief well drilling, grants to the gulf states, claims paid, and federal costs. The bp oil spill was gushing in late may 2010 when lsu graduate student xuan chen found himself on an alabama beach collecting acrobat ants chen was one in an army of scientists probing an urgent. Bp: gbp ( ) usd ( ) responding to an oil spill in the north sea governments and other stakeholders, driven mainly by public health concerns.
The bp disaster invites comparison to the 1989 exxon valdez oil spill (evos), which resulted in immediate and chronic ecological, economic, social, and cultural damages (see ritchie, gill, & picou, in press. We extend attribution and stakeholder theory in the context of crisis reputation management by examining differences in stakeholder perceptions in the form of organization-related blame we presented eight stakeholder groups with factual information surrounding the deepwater horizon oil spill and. New york ( thestreet) -- five years after the deepwater horizon oil spill, bp (bp) has recovered most of the $40 billion it lost in market value the rebound, though, has had little to do with the. The british petroleum (bp) oil spill in the gulf of mexico flowed unabated for three months in 2010 it is the largest accidental marine oil spill in the history of the petroleum industry this event affected individuals and groups, know as stakeholders, in different ways according to the impact that the catastrophe meant to their situation.
There were at least three important stakeholders involved in this project: the bp administration, the employees of bp and society at large after the oil spill, it is clear to each one that the disaster could have been avoided and that the result wasn't good business for anybody. Five years after the oil spill in the gulf of mexico, here's what we do and don't know five years after the oil spill in the gulf of mexico, here's what we do and don't know. But the bp oil spill raises genuine csr questions — it's very much a question of corporate, social, responsibility bp is in the business of finding oil, refining it, and selling the gas (and propane, etc) that results.
Contractors were bp stakeholders that ran the deep horizon oil rig 11 of the contractor stakeholders lost their lives due to faulty equipment and poor safety procedures bp contracted and outsourced equipment and employees to avoid taxes, and having to comply with american safety standards. Bp today activated an extensive oil spill response in the us gulf of mexico following the fire and subsequent sinking of the transocean deepwater horizon drilling rig 130 miles south-east of new orleans bp is assisting transocean in an assessment of the well and subsea blow out preventer with. The interior departments - mineral management service bp plc and other big oil companies based their plans for responding to a big oil spill in the gulf of mexico on us government projections that gave very low odds of oil hitting shore, even in the case of a spill much larger than the current one, however, government models, which oil. Slightly over half of all coastal residents felt that bp's response was poor, and 413% said that the president's response to the oil spill was poor over the last few days we are seeing an effort by officials who are suggesting that, as the oil is less visible on the surface, the 'crisis is over. Ethics in the workplace case study: bp oil spill on april 20, 2010 off the gulf of mexico, there was a blowout of the macondo well which is owned by british petroleum also known as bp when the blowout took place it got immediate media attention because aspects of the event were known over the world.
Abstract we use the bp, plc oil spill to provide new evidence regarding the consequences of and motivations for environmental disclosures we find that among oil and gas firms drilling in us waters, those with greater environmental disclosure suffered smaller negative shareholder wealth effects following the spill. Six years ago today, the bp deepwater horizon oil spill occurred in the us gulf of mexico with devastating effects on the local environment and on public perception of offshore oil and gas drilling. Bp oil spill an important component of crisis management is response response can include several actions such as communication with stakeholders, the public and the government. A contemporary example of a crisis facing an organization is the 2010 bp oil spill in the gulf of mexico this particular crisis began on april 20, 2010 with an explosion and fire on the. The 2010 deepwater horizon oil spill in the gulf of mexico has been described as the worst environmental disaster in the united states, releasing about 49 million barrels (210 million us gal 780,000 m 3) of crude oil making it the largest marine oil spill.
The 2010 bp deepwater horizon offshore oil spill in the gulf of mexico, for example, occurred during prime mating and nesting season for many bird and marine species, and long-term environmental consequences of that spill won't be known for years oil spills can disrupt migratory patterns by contaminating areas where migrating birds normally stop. Some 160 kilometers of oyster reefs are being built along the alabama coast to help mitigate effects of the 2010 bp oil spillin front of one barrier island, concrete reef balls and bags filled. To examine how various stakeholder perceptions may differ depending on their organization's role in a crisis situation, we chose the 2010 deepwater horizon oil spill (herein after referred to as the deepwater horizon oil spill or the oil spill) to enhance the mundane realism of the study. Bp and the gulf oil spill (b) the commission found that all three stakeholders, bp, transocean, - tony hayward is quoted on skynew s saying the overall effects of the spill will be very.
Bp oil spill: largest shareholders cut stake as price falls bp's largest shareholders have cut their holdings in the troubled oil giant - with five of the group's top 10 shareholders selling. Spill's effects underwater efforts are under way to keep the oil spill in the gulf of mexico from reaching birds, mammals and critical shoreline habitats, but some marine biologists worry about the effects of the oil slick and the use of chemical dispersants on life underwater. The allegation that bp put profits ahead of the environment shouldn't be a surprise in fact, bp's failure to stop the worst oil spill in us history is indicative of a much larger problem with companies that have embraced one of the central ideas in management today: stakeholder theory the.
John sauven: as bp pushes ahead with plans to drill in the pristine bight, the oil leak off the coast of scotland serves as a timely reminder of the company's track record on environmental disasters.