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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
01/15/201518:00:42Transocean Files 8K - Regulation FD
01/05/201513:14:06MARKET SNAPSHOT: U.S. Stocks Nose Dive As Oil Prices Tumble
01/05/201511:12:27MARKET SNAPSHOT: U.S. Stocks Getting Walloped Amid Oil, Euro...
01/05/201510:53:21MARKET SNAPSHOT: U.S. Stocks Getting Walloped Amid Euro, Oil...
01/05/201510:19:27MARKET SNAPSHOT: U.S. Stocks Threaten 200-point Tumble Amid Euro...
01/05/201510:17:03MARKET SNAPSHOT: U.S. Stocks Tumble Amid Euro, Oil Turmoil
12/31/201418:02:12MARKET SNAPSHOT: Stocks Finish Solid Year On Down Note; Dow Drops...
12/24/201412:21:07MARKET SNAPSHOT: U.S. Stocks Inch Higher As Santa Rally Stays...
12/24/201411:03:29MARKET SNAPSHOT: U.S. Stocks Inch Higher As Santa Stays Jolly
12/22/201404:26:40Providence Resources Wins Transocean Contract Breach Litigation...
12/18/201417:55:33Transocean Files 8K - Material Impairments
11/30/201421:40:08Even After Selloff, Energy Stocks Find Few Buyers
11/28/201415:27:42MARKET SNAPSHOT: Stocks End Mixed; OPEC Sinks Energy Sector
11/28/201415:25:31MARKET SNAPSHOT: U.S. Stocks: OPEC Sinks Energy Sector, Airlines...
11/28/201415:14:57MARKET SNAPSHOT: U.S. Stocks Mixed; Energy Sector Slammed, Airlines...
11/28/201414:49:02MARKET SNAPSHOT: U.S. Stocks: Energy Sector Slammed After OPEC...
11/28/201407:01:14MARKET SNAPSHOT: U.S. Stocks: Energy Firms Slammed After OPEC...
11/12/201418:15:25Offshore Drilling Companies Delay Projects Amid Oil Glut
11/07/201414:12:15Transocean Files 8K - Other Events
09/05/201412:49:15LONDON MARKETS: BP Outperforms, RBS Drops In London Trade

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