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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
06/26/201510:20:05Current Report Filing (8-k)
06/22/201516:33:01Current Report Filing (8-k)
06/22/201516:22:28Transocean Ltd. Provides Fleet Update Summary
06/18/201510:29:043 Stocks to Watch in Oil and Gas Drilling
06/16/201513:00:03The 3 Best Stocks to Watch in Offshore Drilling
06/12/201509:05:023 Stocks to Watch in Deep-Sea Drilling
06/11/201516:04:02Analysts Debate: Is Seadrill Ltd. a Value or a Value Trap?
06/11/201509:58:02Offshore Drillers: 3 Big Risk Factors That Could Send Share Prices...
06/10/201509:00:04U.S. Stock Futures Rise
06/07/201511:01:023 of the Best Stocks to Invest in Offshore Drilling
06/02/201521:04:03TIAA-CREF: What This $8.6 Billion Trust Has Been Selling
06/01/201517:21:05Statement of Changes in Beneficial Ownership (4)
06/01/201517:16:20Initial Statement of Beneficial Ownership (3)
05/27/201518:03:04Transocean Hires Mark May as CFO
05/27/201516:41:06Current Report Filing (8-k)
05/27/201516:36:03Transocean Ltd. Announces Departure of Esa Ikaheimonen; Appoints...
05/24/201511:00:03Oil Stocks: 2 to Avoid, and 1 to Buy
05/22/201517:00:03Should You Follow Goldman Sachs Advice on Oil Stocks?
05/22/201512:04:02The 3 Best Stocks to Invest in to Profit From Rising Dayrates
05/21/201515:32:28Securities Registration: Employee Benefit Plan (s-8)

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