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Timeline of Gulf of Mexico oil spill disaster

Text by FRANCE 24

Latest update : 2010-07-29

A timeline of the BP oil spill disaster.

April 20: Explosion on the Deepwater oil rig in the Gulf of Mexico sets off the worst oil slick in US history.

May 3: Reinsurers give their first verdict on the cost of the catastrophe: between 1 and 1.5 million dollars.

June 1: After several unsuccessful attempts at stemming the leak, BP warns that oil could flow into the Gulf of Mexico until August.

June 9: US Congress opens an inquiry into the oil slick and BP’s responsibility in the disaster. The White House orders BP to submit a calendar of operations and an assessment of the chances of getting the spill under control.

June 17: BP’s CEO, Tony Hayward, testifies before US Congress. The share price of BP falls three days in a row before reaching a historical low of $27.05 on June 19.

July 11: BP announces that it is in talks with Apache to sell 12 million dollars of its assets to reduce its debt.

July 15: BP announces that it has succeeded in containing the oil spill, nearly four months after the explosion.

July 26: Tony Hayward announces his resignation, effective October 1. He will be replaced by an American, Bob Dudley.

Date created : 2010-07-29