BP admits budget pressure a factor in Alaska spill

"Extreme budget pressures" from BP Plc.'s headquarters hindered pipeline maintenance at the Prudhoe Bay oil field in Alaska, leading to the worst oil spill on the North Slope last year, a senior company official told U.S. lawmakers on Wednesday.

"There were extreme budget pressures at Prudhoe Bay," said BP America CEO Bob Malone. "We recognize that those budget pressures put our employees in a very difficult place."

Members of the House Energy Committee investigating the March 2006 leak berated the British oil major for sitting on key documents related to the 200,000 gallon spill and said another hearing may be needed.

Read Full Article from Reuters.uk

- Posted: 2007-05-17 10:13:35

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