Case Study BP and the Gulf of Mexico Oil Spill - 3602 Words

Table of Contents Question 1 ............................................................................................................................................................2 Do you agree with Tony Hayward’s quote at the end of the case? .................................................................2 Was this disaster strictly a BP failure or an industry accident?........................................................................2 What factors affect the competitive environment of the oil industry? ...........................................................2 Question 2†¦show more content†¦The Deepwater Horizon rig explosion, from the extensive evidence of correspondence and accounts of involved persons, puts the fault primarily on the decisions made by BP and its partners on the deepwater rig. While loose regulatory policies and widely-accepted industry practices allowed for this accident to happen, the decisions made by BP and to some extent by Transocean and Halliburton, were the main reason for the explosion. As the National Commission report put it: â€Å"The immediate causes of the Macondo well blowout can be traced to a series of identifiable mistakes made by BP, Halliburton, and Transocean† and â€Å"The decisions made by these companies reveal systemic failures in risk management raising questions about the safety culture of the industry.† (â€Å"Deep Water Summary To President,† n.d.) What factors affect the competitive environment of the oil industry? To understand the factors that affect the competitive environment of the oil industry, a useful framework would be a PESTLE analysis. The factors that affect the competitive environment of the oil industry are outlined in the table below: Page 2 of 9 Table 1: PESTLE Analysis PESTLE Analysis (â€Å"Top 20 Risk Factors Facing the Oil Gas Industry - Energy Digital,† n.d.) Political Increased regulation following the DeepwaterShow MoreRelatedBp And The Gulf Of Mexico Oil Spill Case Study3246 Words   |  13 Pages BP and the Gulf of Mexico Oil Spill Case Study Tamatha French Management 6000 Hawaii Pacific University â€Æ' Introduction and Background On April 20, 2010, the petroleum industry suffered the largest maritime disaster oil spill in its history known as the Deepwater Horizon oil spill. The Deepwater Horizon oil rig that had been working on a well for BP in the Gulf exploded and went up in flames. 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