All BP (NYSE:BP) can do at this time in the Gulf of Mexico is stand on the sidelines and watch as Chevron (NYSE:CVX), Exxon (NYSE:XOM) and Shell (NYSE:RDS-A) move ahead with their attempts to expand their Gulf presence and gain advantage over their rival.
Major companies can now apply for permits now that the oil moratorium has been lifted in the Gulf, and though technically BP could as well, they know at this time it would be a waste of time and energy, and will focus on cleaning up its image and going through the process of having it determined whether or not they're considered negligent in the matter.
Once that is cleared up, they may feel more free to pursue Gulf permits, which CEO Bob Dudley has implied the company will continue to do, as they have no intention of willingly leaving the Gulf unless forced to.
This will give their competitors a key advantage going forward, and BP will have to weigh that against taking the time to resist in lawsuits and claims which may not be legitimate, but better to settle and get behind them rather than waste precious time.
For now, their competitors have the upper hand in the Gulf and are taking measures to expand that advantage as much as possible.
Showing posts with label Gulf Permits. Show all posts
Showing posts with label Gulf Permits. Show all posts
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