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BP should now sell its Refinery of Texas City
BP should now sell its Refinery of Texas City

Here the discussion is not on the contaminants that BP had discharged in the Gulf of Mexico for more than a month in the spring of this year.

The discussion is on the petroleum company’s mismanagement which is troubling the company’s refinery in spite of its promises to improve

In the prevailing situation where BP is selling off its assets to finance the oil clean up in the Gulf of Mexico it should think of selling its refineries also.

The refinery of BP that is located in the Texas City has been an utter nuisance for the company since the petroleum giant acquired it on virtue of the Amoco merger of 1998.

BP all along tried to cut its expenses so that it could see some money out of the refinery but it was compelled to spend more than one billion of dollar to make improvements after the fatal explosion of 2005 which took many lives.

It had to spend an additional amount of one decimal five billion dollar for settling claims related to fifteen workers who died in the explosion and hundreds of other claims related to injuries.

It spent another $1.5 billion or so settling civil claims related to 15 workers who died in the blast and the hundreds more who filed injury claims.

Last Thursday BP had agreed to pay a sum of fifty million dollars for failing to take safety measures at the refinery of the Texas City since the blast. BP is still bargaining over thirty million dollars with the Occupational Safety and Health administration.

Then the incident of fume leaks come into the scenario where Texas City Attorney General Greg Abbott had charged BP of emitting five hundred thousand pounds of toxic fumes, after a fire on the sixth of April. BP allowed the fumes to leak rather than shutting down the leaking unit, for which BP could face millions of dollars as fines.