by Tim Delaney | Apr 24, 2011
When the Deepwater Horizon blew up in April of 2010 and the Macondo well started spilling thousands of barrels of oil a day into the Gulf of Mexico, BP’s management had to deal with massive human, environmental, operational, and financial challenges. The controversy...
by Tim Delaney | Oct 10, 2010
Back in July, we discussed how much progress BP seemed to be making with safety (See “BP’s Safety Warning Signs,” July 11). From 2005 through 2009, the company went from the worst record among the majors to about the best in terms of injuries, deaths, and spills. But,...
by Tim Delaney | Aug 8, 2010
When Tony Hayward took over as Group CEO of BP in May of 2007, he acknowledged BP’s past failings and promised to correct them. He continued plans to make $7 billion in safety improvements. He took personal charge of BP’s group operations risk committee. He expanded...
by Tim Delaney | Jul 11, 2010
It’s tragically obvious now that BP has deep problems with operational risk management, but it’s no challenge to identify risks after the fact. For credit analysts the challenge is evaluating risks before they occur and to do it with limited information. ...
