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U.S. Safety Board Says Lapses Led to BP Oil Spill

HOUSTON--The U.S. Chemical Safety Board said Tuesday Transocean Ltd. (RIG, RIGN.VX) and BP PLC (BP, BP.LN) had multiple deficiencies in their safety-management systems that contributed to the Deepwater Horizon catastrophe. The way the two companies and U.S. oil-industry organizations measured safety didn't focus on major accidents, but on personal-safety incidents and other lagging indicators, the agency said. The agency's remarks are part of a wide reaction by U.S. regulators to the deep-water blowout that in 2010 killed 11 people aboard a Transocean rig leased by BP, and led to a three-month offshore oil spill, the worst in U.S. history. The CSB, which typically investigates onshore accidents at major industrial sites, was asked by a Congressional committee to conduct an investigation on the disaster, despite opposition from some in the offshore industry who have alleged the U.S. Gulf of Mexico is outside the agency's area of jurisdiction. The CSB said a "robust system of process safety indicators" might have revealed many of the problems that led to the disaster, including discordant safety controls between BP and Transocean, over-reliance on manual intervention by the crew, fickle safety plans, and lack of follow-up after smaller or similar incidents. BP and Transocean didn't immediately respond to requests for comment. Write to Angel Gonzalez at angel.gonzalez@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Transocean (RIG)
DateTimeHeadline
08/21/201417:05:22Transocean Files 8K - Regulation FD
08/12/201417:10:17Transocean Files 8K - Other Events
08/07/201409:43:14U.S. Hot Stocks: Hot Stocks to Watch
07/02/201416:41:26Transocean Files 8K - Direct Or Off-Balance Sheet Financial Obligation
07/02/201416:41:26Transocean Files 8K - Termination Of Definitive Agreement
07/02/201416:41:26Transocean Files 8K - Entry Into Definitive Agreement
06/05/201421:12:20Investigators Fault Blowout Preventer in Deepwater Horizon Oil...
05/19/201417:10:15Transocean Files 8K - Changes To Articles
05/19/201417:10:15Transocean Files 8K - Changes Executive Management
05/08/201411:19:52Correction to Wednesday's Transocean Earnings Story
05/05/201419:17:39Transocean Ltd to Spin Off 8 Drilling Rigs Into New Company
02/27/201413:13:06MARKET SNAPSHOT: U.S. Stocks Rise; S&P 500 Eyes 1,850 Record
02/27/201410:58:13MARKET SNAPSHOT: U.S. Stocks Volatile; Yellen Speaks Before Senate
02/27/201409:36:24Hot Stocks: Hot Stocks to Watch
02/26/201419:17:10Sembcorp Marine Gets $1.08 Billion in Contracts from Transocean...
02/26/201418:40:02Transocean 4th-Quarter Net Down 49% on Higher Costs
11/15/201309:19:39Omega Advisors 3Q 13F: Largest Purchases
11/15/201309:19:36Omega Advisors 3Q 13F: Holdings As Of Sep 30
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30

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