BP Oil Collection Rate Bounces Back After Tue Lightning Fire

17th Jun 2010 01:11

DOW JONES NEWSWIRES BP PLC's (BP, BP.LN) rate of oil collection bounced back Wednesday morning, after the previous morning's efforts were hampered by a lightning strike and a faulty sensor. The company said it collected 7,040 barrels of oil in the first 12 hours of Wednesday in the U.S. Gulf of Mexico, up from Tuesday morning's 5,610-barrel rate. BP shut down its oil containment and recovery operation then for several hours as a safety precaution, following a fire aboard the vessel that has been processing the oil. The sensor problem shut down operations for about 30 minutes. The company has been under intense pressure to successfully contain the spewing oil, which began in April when a deepwater drilling rig exploded and sank. The company's repeated failures at a temporary solution to the leak heightened scrutiny of its response, and it is still working on a permanent fix to the well. A team of scientists estimates that about 35,000 to 60,000 barrels are flowing from the broken well each day. BP's American depositary shares were up 0.7% at $32.07 after hours. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; [email protected] (END) Dow Jones Newswires June 16, 2010 20:11 ET (00:11 GMT)